WTO Moves to Standardize Global Customs Valuation Rules

WTO Moves to Standardize Global Customs Valuation Rules

The 1983 Customs Valuation Committee Decision clarified that the English term "undertaken" in the Customs Valuation Agreement should be interpreted as "carried out." This aims to standardize international trade terminology, enhance the accuracy and consistency of customs valuation, reduce the risk of trade disputes, and facilitate international trade. The French and Spanish versions of the term remain unchanged. This clarification ensures a more uniform application of the agreement across different language versions, promoting fairness and predictability in international trade transactions.

02/02/2026 Customs Knowledge
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Taiwan and Outlying Islands Boost Global Trade Connectivity

Taiwan and Outlying Islands Boost Global Trade Connectivity

The Separate Customs Territory of Taiwan, Penghu, Kinmen, and Matsu actively advocates for trade facilitation, emphasizing its importance for SMEs. It faces challenges in technical assistance, capacity building, and the application of international standards. They call for a long-term mechanism to promote international cooperation, ensuring developing countries receive adequate support and bridging international standards gaps. This aims to build a globally interconnected trade bridge. This initiative focuses on supporting smaller businesses and fostering a more inclusive and efficient global trade environment.

02/06/2026 Customs Knowledge
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Key Regulations on Air Freight Weight Limits Explained

Key Regulations on Air Freight Weight Limits Explained

This article provides a detailed analysis of the single box weight limits in international air freight, covering specific requirements for commercial air transport and international express shipping. It also offers relevant precautions to help foreign trade professionals and cross-border e-commerce sellers avoid potential shipping issues.

08/04/2025 Logistics Encyclopedia
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Global Logistics Firms Adopt Advanced Strapping Strategies

Global Logistics Firms Adopt Advanced Strapping Strategies

This article explores palletizing operations in international logistics, highlighting their multiple roles in enhancing loading and unloading efficiency, optimizing space utilization, and facilitating cargo management. It analyzes commonly used pallet types and implementation strategies, emphasizing the critical role and importance of palletizing operations in international logistics.

08/04/2025 Logistics Encyclopedia
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Global Trade Boosted by Integrated Rail and Multimodal Freight

Global Trade Boosted by Integrated Rail and Multimodal Freight

Providing one-stop freight forwarding services including international railway, domestic railway, and multimodal transportation. International railway connects the world, while domestic railway ensures efficient and reliable transport. Multimodal transportation optimizes efficiency and reduces costs. We aim to provide customers with professional, efficient, and economical freight solutions.

08/21/2025 Logistics Encyclopedia
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Somali Shilling Faces Market Dynamics Amid Economic Challenges

Somali Shilling Faces Market Dynamics Amid Economic Challenges

The Somali Shilling (SOS) is the official currency of Somalia, significantly impacting the national economy and international markets. This article analyzes the fundamental information about the Somali Shilling, its circulation status, and the factors influencing its exchange rate fluctuations, emphasizing its potential value in international investment.

08/19/2025 Exchange Rate Query
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Mastering SWIFT Codes for Secure Global Transfers

Mastering SWIFT Codes for Secure Global Transfers

This article provides a detailed overview of the SWIFT/BIC code CRPPIT2P007 for CREDIT AGRICOLE ITALIA S.P.A. It explains the significance of SWIFT codes in international remittances and offers steps to verify the validity of a SWIFT code, helping readers successfully complete their international money transfers.

08/14/2025 International Settlement
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