CO not needed for exports to EU
CO not needed for exports to EU
Those wishing to export their goods to the EU under the tax-free preferential scheme, Everything but Arms (EBA), are no longer required to apply for a Certificate of Origin (CO), according to a joint announcement from the ministries of Commerce, and Economy and Finance on Monday.
However, exporters are required to register in the EU’s Registered Exporter System (REX) to self-certify the Statement on Origin of their goods instead of applying for a CO.
Member of the REX system
The export of goods to the EU under the Generalised System of Preferences (GSP) as well as to Norway, Switzerland and Turkey is also exempted from the CO requirement if the companies have registered in the REX system, said the ministries’ announcement.
Ministry of Commerce spokesman Seang Thay said the cancellation of the CO requirement for the export of goods to the EU came as Cambodia became a member of the REX system, which comes into effect on January 1.
Having registered in the REX system, exporters need only self-declare the type and quantity of goods to the Ministry of Commerce without requiring a CO, and the EU will recognise them, he said.
“The government wants to facilitate the business of traders and businessmen. We agree that there is no need to have a CO. The company will save on fees and save a lot of time in applying for it,” Thay said.
However, exporters are required to report to the Ministry of Commerce no later than 30 days from the date of shipment, so that the ministry verify the inventory of imported raw materials and keep a record, the joint statement added.
