India: Interest subvention scheme for designated exports
Effective 1 December 2008, the Reserve Bank of India (RBI) implemented an interest rate subvention scheme for export credit in designated sectors. The interest rate subvention takes the form of a lower...
View ArticleIndia: Interest subvention scheme for rupee export credit extended to...
On 9 August 2010, the Reserve Bank of India through Circular DBOD.Dir.(Exp).BC.No.36 /04.02.001/2010-11 increased the sectors eligible for the interest rate subvention scheme for rupee export credit....
View ArticleIndia: Incentives for leather products, garments exported to EU and USA
On 2 March 2009, the Government of India vide Notification No. 92 (RE-2008) / 2004-2009 read with Public Notice No. 156 / 2008, has permitted the issue of duty credit scrip under the Market Linked...
View ArticleIndia: Products added to Focus Product Scheme (2013)
On 10 July 2013, the Government of India vide Public Notice No. 19 (RE-2013) / 2009-2014 declared various products eligible to the benefits of the Focus Product Scheme (FPS). The FPS grants eligible...
View ArticleIndia: Export benefits extended to new sectors
On 8 September 2009, the Government of India vide Public Notice No. 08 / 2009-2014, widened the application of export benefits under the Market Linked Focus Product Scheme (MLFPS) and the Focus...
View ArticleArgentina: The Launch of the Ahora 12 Program
In 13 September 2014, Argentina launched the “Ahora 12” program. This program allows individuals to finance the purchase of certain domestically-manufactured goods, in 12 monthly installments without...
View ArticleIndia: Export of non-Basmati rice allowed on private account
On 19 July 2011, the Government of India vide Notification No. 60 (RE-2010) / 2009-2014 allowed the annual export of 1,000,000 MT of non-Basmati rice, where export is made from privately held stocks....
View ArticleGeorgia: Citizens of EU, NATO, CIS and certain other countries allowed to...
On 1 May 2015 the Parliament of the Democratic Republic of Georgia passed migration law amendments. The new migration rule extends the visa-free stay from 90 days to one year for the citizens of...
View ArticleIndia: Amendments to merchandise export incentive scheme of foreign trade...
On 14 July 2015, the Ministry of Commerce & Industry through Public Notice No. 27/2015-2020 introduced the following amendments to the Merchandise Exports from India Scheme (MEIS) - read more
View ArticleUK: Introduction of the Export Refinancing Facility
On 30 April 2014, the UK government launched its Export Refinancing Facility (ERF) with a volume of GBP 5 billion and the aim to allow UK exporters to provide favourable financing conditions to...
View ArticleUK: Support through Export Working Capital Scheme widened
On 10 July 2015, the UK Export Finance authority announced it would expand its eligibility of its Export Working Capital Scheme to include also direct supply chains of UK-based exporters. With the...
View ArticleRussian Federation: VAT-exempted imports of certain medical equipment
On 30 September 2015 the Russian Government approved Decree No. 1042. It has exempted from the payment of VAT the imports of a list of medical goods.
View ArticleIndia: Increase in fund allocation for exports incentive scheme for 2015-16
On 7 October 2015, as per an official Press release India increased the funds allocation for exports under the Merchandise Exports Incentive Scheme (MEIS) for the financial year 2015 (until 31 March...
View ArticlePakistan: Duty drawback rates increased for certain textile products
On 6 October 2015, Pakistan through SRO 979(I)/2015 increased the duty drawback rates on the manufacture and export of the following products - read more
View ArticlePakistan: Duty drawback introduced on certain cotton/polyester products
On 21 August 2014, the Federal Board of Revenue of Pakistan through SRO 754 (I)/2014 introduced duty drawback for manfacture and export of certain woven garments and fabrics of cotton and/or polyester...
View ArticleRussian Federation: Additional agricultural subsidies (ca. 60.16 million USD)...
On 24 October 2015 the Russian Government approved Order No. 2164-р. This Order was issued within the framework of the State program for agricultural development and regulation of agricultural...
View ArticleRussian Federation: Agricultural subsidies (ca. 209.55 million USD) in 2015
On 16 June 2015 the Russian Government approved Order No. 1110-р. This Order was issued within the framework of the State program for agricultural development and regulation of agricultural products,...
View ArticleIndia: Interest Equalisation Scheme - interest subsidy for exporters announced
On 18 November 2015, the Indian Cabinet Committee on Economic Affairs approved an Interest Equalisation Scheme (earlier known as the Interest Subvention Scheme) that essentially provides an interest...
View ArticleEC: Export refunds restricted as part of CAP reform
On 20 December 2013, the European Commission published regulation 1308/2013 on EU's single common market organisation for agricultural products. It replaces Council regulation 1234/2007 and inter alia...
View ArticleEl Salvador: Removal of the 6% drawback rate paid to exporters
On 23 December 2010, El Salvador via Decree 565, announced its decision to eliminate the 6% export drawback rate from 1 February 2011. This drawback rate was initially established via the 1990 Export...
View ArticleRussian Federation: State subsidies for partial re-imbursement of costs for...
On 16 February 2016, the Russian Government approved rules for subsidies intended to partially cover international regulation and certification costs of Russian enterprises that belong to the aircraft...
View ArticleKazakhstan: Development Bank of Kazakhstan financed export operations of...
According to a press report dated 3 September 2015, the Development Bank of Kazakhstan undertook the financing of export operations of Arcelor Mittal Temirtau JSC (part of the ArcelorMittal group) and...
View ArticleChina: Import tariff increases on numerous consumer goods
On 16 March 2016, the Chinese Ministry of Finance announced import tax increases for numerous goods. The rates (a combination of import tariffs, consumption tax & VAT) were increased from 10 to 15%...
View ArticleIndia: Trade implications of the 2016-17 Budget
On 29 February 2016, India's Finance Minister presented the 2016-17 Union Budget. Implications for trade and commerce from the measures within this budget are summarised below. read more
View ArticleIndia: Incentives extended to additional markets under products export...
On 4 May 2016, the Indian Ministry of Commerce & Industry published Public Notice No. 06/2015-2020 and thereby removed the requirement to procure and submit a Landing Certificate from the country...
View ArticleUnited States of America: Designation of certain travel goods for limited...
On June 30, 2016 the Office of the U.S. Trade Representative (USTR) announced the outcome of the annual product review under the Generalized System of Preferences (GSP) program. The GSP provides...
View ArticleChina: Central bank alters support for coal, iron and steel production
On 21 April 2016, the People's Bank of China issued a statement that it would tighten financing for new coal, iron and steel projects which are not part of national planning and which are financially...
View ArticleSaudi Arabia: SFD signs financing agreement with Turkish bank Al Baraka to...
On 16 September 2009, the Saudi Fund for Development (SFD), signed a financing agreement totalling USD 20 million with Turkish bank Al Baraka. The credit line is funded through SFD's Saudi Export...
View ArticleSaudi Arabia: SFD signs USD 40 million financing agreement with Saudi company...
On 3 September 2013, the Saudi Fund for Development (SFD), signed a USD 40 million financing agreement with the Saudi company National Petrochemical Industrial Co. The agreement is funded through SFD's...
View ArticleRussian Federation: Decreased export duties on sunflower seeds, lead, zinc...
On 15 August 2016, the Russian Government (according to Decree No. 797) unilaterally, and therefore not as part of the Eurasian Economic Union, decreased the export taxes on sunflower seeds, lead, zinc...
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