New rules of origin for Pan-Euro-Mediterranean (PEM) countries
Brussels, 02/11/2020 - 11:08, UNIQUE ID: 201102_8
The European Commission has adopted a new package of proposals that aims to increase trade between the European Union and neighbouring countries in the Pan-Euro-Mediterranean (PEM) region, thereby facilitating to the economic recovery caused by the Covid-19 pandemic. The mentioned proposals will modernise the EU's preferential trade agreements with PEM trading partners, including Georgia. These provisions will make it easier for products to benefit from trade preferences, such as:
Simpler product-specific rules
Increased thresholds of tolerance for non-originating materials
The introduction of “full” cumulation, under which the manufacturing operations needed to acquire origin for most products can be split among several countries
The proposed new rules have potential to facilitate economic integration and development of integrated supply chains within the countries of the region applying them. The new rules could come into force in some countries as early as the first half of 2021.