Foshan Kexun Cable Industrial Co., Ltd.

Tel : +86-757-85225523
Tel: + 86-13929926684

New Rules In March

Views:660     Publish Time: 2022-04-06 14:56:05      Origin:Site Inquire

In March , there are some new rules happened through out the world. Lets see what they are :


1. RCEP officially takes effect for Malaysia

The certificate of The Regional Comprehensive Economic Partnership will come into force for Malaysia on March 18, 2022. Certificates of origin exported to South Korea and Malaysia under the Agreement are self-printable certificates, which will be implemented from the date when the Agreement takes effect for the member.


2. Some Russian banks excluded from SWIFT payment system

The United States and the European Commission, Germany, France, the United Kingdom, Italy, and Canada issued a joint statement deciding to exclude some Russian banks from the Society for Worldwide Interbank Financial Telecommunication (SWIFT) payment system and to impose restrictions on the Russian central bank to prevent its deployment International reserves weaken the impact of sanctions.


The latest sanctions will ensure that Russian banks are cut off from the international financial system, "damaging their ability to operate globally," according to a joint statement issued by several countries. This means that Russian banks will not be able to communicate securely and efficiently with foreign banks.



 3. Adjustment of Bangladesh L/C Import Policy

According to the new "Import Policy Regulations (2021-24)" of the Bangladesh Congress. The regulation stipulates that Bangladeshi retailers importing goods not exceeding US$500,000 will be exempted from issuing letters of credit and settle settlements in accordance with contracts and wire transfers.


The new rules are an increase of $300,000 from the previous limit. The secretary of the Congress said at a press conference that after the implementation of the new policy, the development of Bangladesh's import trade will be more in line with the needs of the times and more competitive.


The new policy stipulates that exporting products or importing machinery should be completed within 24 months from the date of signing the contract, replacing the original 17 months. Under the new policy, individuals without an import registration can import products up to $10,000, and if the value of the goods exceeds $10,000, a permit is required.


In addition, in the bonded warehouse system part of the new policy, Bangladesh's 100% export-oriented enterprises import raw materials and goods required for six months without any back-to-back letters of credit, and the original import quota is four months of inventory preparation.


4. Egypt imports comprehensive requirements for letter of credit payment

Egyptian importers can only import goods using letters of credit and instruct banks to stop processing exporter collection documents. Even Egyptian customers have requested that the order is being shipped, and the bill of lading date should be changed to before 2.12, otherwise the shipping company needs to issue a certificate.


It is reported that the move is to facilitate the Egyptian government to strengthen import supervision and reduce its dependence on foreign exchange supply.

On February 17, Egypt's central bank eased some of the restrictions again, excluding essential goods such as wheat, corn, beans, poultry, milk powder, chemicals and medicines from the list of imported goods to which the new payment rules apply.


5. Algeria drastically adjusts import and export rules

Algeria signed the 2022 Finance Law (LALOIDEFINANCEPOUR2022) on December 30, 2021. Traders should pay special attention to the fact that this adjustment shows Algeria's policy orientation of encouraging domestic production and restraining imports.


On January 26, 2022, the French financial media "International Trade Observatory" (LeMOCI) quoted Akram Hamouda, director of legal compliance of the French Chamber of Commerce and Industry in Algeria (CCIAF), stating that the adjustments include:

Afghan import payment rules;

Import tariffs;

importer requirements;

Product identification requirements.


6. China, Russia/UAE implement mutual recognition of AEO system

According to the announcement issued by the General Administration of Customs of China, China, Russia and the United Arab Emirates have officially implemented the "Accredited Operator" (AEO) system for mutual recognition of each other's customs, providing customs clearance convenience for goods imported from each other's AEO enterprises.


When Chinese AEO enterprises export goods to the UAE/Russia, they need to inform the UAE/Russia importer of the AEO code (AEOCN + 10-digit enterprise code registered and filed with the Chinese customs, such as AEOCN1234567890), which will be declared according to the UAE/Russia customs regulations. The UAE/Russian Customs confirms the identity of the Chinese Customs AEO enterprise and provides relevant facilitation measures.


New rulses changes all the time , as foreign trade representative we should pay more focus on the news to win the trading game.


For more info about cables or export issue you can check with kexun cable factory .  


Kexun Cable, a cable company with exporting more than 20years to world . A factory you can believe. If you need cables , you can buy from us. Every year exporting 1000 containers to the world. At present, the company's products have a number of international and domestic quality certification certificates, like CE, ROHS, CPR, ISO9001 etc.


We are one of the biggest and professional manufacturer of coaxial cables (such as RG6 .RG11.RG59.RG58 with standard shield/tri-shield/quad shield. RG59+2DC. RG6+2DC FOR CAMERA) and also LAN cable (CAT5E/CAT6E etc).For more information about our production, would you please visit our website )


We have 3 factories, one produces the cables, one produces the inner conductor, another one produces the PVC jacket, and also we importing PE from Japan, Saudi, Taiwan etc, so we have the competitive prices in China.  


And we export our products for over 20 years, we have professional team for the export and document paper work.  


We sure our competitive prices, good quality, advanced service will help you to occupy the market in your country.


The company adheres to the tenet of "do everything possible to produce products that meet customers in order to benefit the company's economic booming. We believe that the company will never stop exploring and developing, and keep pace with China's domestic and world international companies.


So if you are interested in our coaxial cables, just come back to me for any needs.

Foshan Kexun Cable Industrial Co., Ltd.
Tel :+86-757-85225523
Tel: +86-13929926684
Fax : +86-757-85225512
Add : No.6, Zhiye Road, Songxia Industrial Park, Songgang, Shishan Town, Nanhai District, Foshan City, Guangdong, China. 528234

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