EU: Proposal for Ukraine to join “common transit convention” customs network
Ukraine could be formally invited to join the conventions by as early as 1 October 2022
Ukraine could be formally invited to join the conventions by as early as 1 October 2022
The European Commission today announced a proposal for Ukraine to be invited to join the “common transit conventions”—an international framework for the customs transit of goods with simplified procedures between the EU and partner trading countries.
As explained in an EC release, this would mean that goods can move much more easily between the EU and the seven “common transit countries” (Norway, Iceland, Switzerland, North Macedonia, Serbia, Turkey, and the UK). The simplified rules include items such as mutually recognised financial guarantees for customs transit and less controls, and these would reduce costs while facilitating and boosting trade.
If endorsed by the EU Council and other steps are completed, Ukraine could be formally invited to join the conventions by as early as 1 October 2022.
For more information, contact a professional with KPMG’s Trade & Customs services:
Doug Zuvich |
John L. McLoughlin |
Andy Siciliano |
Steve Brotherton |
Luis (Lou) Abad |
Irina Vaysfeld |
Amie Ahanchian |
Christopher Young |
Gisele Belotto |
George Zaharatos |
Andy Doornaert |
Jessica Libby Principal E: jlibby@kpmg.com |
The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 3712, 1801 K Street NW, Washington, DC 20006.