WCO headquarter adopted the amendments to the international HS goods nomenclature.
These amendments will be submitted to the WCO Council for approval in June 2009.
Main points to be amended are as follows:
- The use of HS as the standard for classifying and coding goods of specific importance to food security and early warning data falling within the ambit of the Food Security Information for Action Programme of the UN Food and Agricultural Organization (FAO).
- Create additional subheadings for the identification of chemicals and pesticides controlled under the Rotterdam Convention and ozone depleting substances controlled under the Montreal Protocol.
- Simplified by the deletion of more than 40 headings or subheadings due to low volume of trade. Certain products will be separately identified in either existing or new headings. Advances in technology are also reflected in the amendments.
Once approved by the WCO Council, all amendments, except those for which an objection has been timely notified to the WCO Secretariat, will enter into force for all Contracting Parties to the HS convention on 1st January 2012.
It looks far too away future, but good preparation always makes you smart guy.