Each day TFO Canada publishes a sample of trade news on the Canadian import market along with any new, updated or changed regulations and legislations regarding international trade; countries in which TFO Canada offers services and on the export sectors which it promotes.
Withdrawal of Preferential Duty Status for Many GPT Countries- Request for CommentsThursday, January 10, 2013 > 12:57:40
The following was posted in the Canada Gazette Part 1:
Further to the Economic Action Plan 2012 commitment to review Canada’s preferential tariff regime for developing countries, the Government of Canada is seeking views on proposed changes to the General Preferential Tariff (GPT).
Duty-free or preferential status was introduced in 1974 under the GPT (General Preferential Tariff) to assist 175 developing nations. The global economic landscape has changed considerably since 1974, including significant shifts in the income levels and trade competitiveness of certain developing countries. To respond to these changes in the global economic landscape and to ensure that this form of development assistance is aligned with Canada’s development policy objectives, Economic Action Plan 2012 announced that the Government was undertaking a comprehensive review of the GPT.
Guided by the objectives of the review outlined in Economic Action Plan 2012, as well as the original policy intent of the GPT to encourage imports from developing countries as a means to promote their economic growth and export earnings, the Government is seeking views on proposed changes to the various elements of the GPT.
Canada's Department of Finance is proposing that preferential duty status be taken away from goods shipped direct to Canada from 72 countries (e.g., China, India, Brazil, etc.) (http://www.gazette.gc.ca/rp-pr/p1/2012/2012-12-22/html/notice-avis-eng.html#d109), effective July 1, 2014
I.E. Canada is seeking comments from our members regarding the impact that removing GPT will have on your business. Please submit your comments in writing to Amanda Neadow, Director Committees at email@example.com before COB Friday, February 8th, 2013.