December 11, 2023
EY TradeWatch | Issue 3, 2023
The latest issue of our regular TradeWatch publication is now available.
As we approach the end of 2023, we continue to explore many of the themes that we have dealt with in previous issues of TradeWatch including supply chain disruption, the changing trade function, customs reforms, trade facilitation and sustainability and ESG.
Supply chain disruption continues to become the new normal. Trade functions must continue to keep abreast of changing developments and closely monitor their effects. Brexit continues to affect trade in Great Britain, Northern Ireland and the EU - our update on the UK-EU Windsor Framework looks at the current situation and upcoming measures.
Sustainability and ESG continue to be hot topics for trade. In this edition, we focus on carbon measures that have been recently introduced in the EU and are being considered in Australia, and also look at waste reduction measures and the need for a more circular economy. We also consider specifically how trade functions are responding and adapting to the challenge posed by new obligations and priorities related to sustainability.
Customs authorities are being challenged to keep pace with how goods and services are being traded internationally in the digital age. In this edition, we look at the status of customs reforms including WTO harmonized classifications, and the proposed changes to the EU's Union Customs Code that respond to these challenges.
The interplay between customs valuation and transfer pricing continues to be of interest — in this edition, we look at the different approaches and practices adopted by customs authorities in Asia Pacific and outline possible strategies for businesses. We also consider trade facilitation measures, specifically in Latin America and enhancements to the AEO program in Brazil.
From the regions, this issue includes the following insights:
Europe, Middle East, India and Africa
In today's global economy, moving goods internationally can be a complex and costly activity. TradeWatch provides information about customs and international trade developments to help you develop strategies to manage duty costs and the risks of global trade, to improve trade compliance and to increase the operational effectiveness of international supply chains.
Trade Watch 2023 | Issue 3