With new expectations for the New Year, foreign trade companies have started operations one after another. However, according to the survey, last year’s “box worry” is difficult to solve, with tight shipping spaces and high prices still plaguing foreign trade companies.
“Currently, bookings need to be made about a month in advance before space is available. For a shipment we exported to Vietnam this month, if we booked it more than a week in advance, we would already be late for this month’s shipping schedule.” said the relevant person in charge of the export sales department of a company in Guangzhou People say so.
China’s export container freight index reached a new high of 3587.91 points in the last issue. Although the index fell in the latest period.
Behind the problems of shipping container capacity and freight rates is the imbalance of supply and demand caused by the global epidemic. As for shipping prices that have been soaring for two years, industry insiders and industry analysts predict that overall freight rates will remain high in 2022.
At the same time, various policy adjustments in the destination country are also touching the hearts of foreign traders from time to time.
Previously, new regulations issued by Egypt further restricted Egyptian importers to only pay through letters of credit. Now, Algeria, a large country in North Africa, has also made new adjustments to its import and export rules.
According to the latest version of the “World Tariff Profiles 2021” released by the World Trade Organization (WTO) and the United Nations Commission on Trade and Development (UNCTAD), Algeria ranks as the fourth country with the highest import barriers in the world, with an average tariff of 18.9%.
Algeria operates a licensing system for the import of all final products.
In addition, many Algerian importers will require 100% letters of credit, but some Algerian banks have defaulted on letters of credit, or failed to pay, refund orders, or return calls without legitimate reasons, which has harmed the interests of exporters, including some. some state-owned banks.
On the other hand, new regulations issued by the local government of Algeria are rarely notified in advance and are usually implemented immediately with large variables. Therefore, Chinese exporters must carefully evaluate Algerian buyers.
In 2021, after the Algerian Ministry of Trade launched a business registration cleanup operation, the number of Algerian importers dropped from 46,000 to 9,000, and 37,000 importers disappeared from the Algerian market!
The latest news is that Algeria signed into effect the “Finance Law 2022” (LA LOI DE FINANCE POUR 2022) on December 30, 2021. Traders need to pay special attention to the fact that this adjustment shows that Algeria encourages domestic production and restrains imports. Policy Guidance.
The French financial media “Le MOCI” (Le MOCI) quoted the online seminar description of Akram Hamouda, director of legal compliance of the French Chamber of Commerce in Algeria (CCIAF), on January 26, 2022, stating that the specific adjustments are as follows:
Import payment rules for Afghanistan
1. Cancel the requirement that when importers import final products (Produits destines à la vente en l’etat), their payment date should be deferred to 45 days after the goods are shipped.
2. The importer must open a bank account and register in the country before making payment, transfer or customs clearance, and complete the registration procedures at least 30 days before the exporter ships the goods. The account must have a balance of at least 1.2 times of the total import payment.
3. Maintain the upper limit on deposits that foreign exporters can request at 15% of the invoice value.
4. Maintain the maximum payment term that local importers can require as 360 days after shipment.
5. In view of the official regulations of Afghanistan, import and export insurance premiums should be paid within the country. It is recommended to use FOB trade terms for trade with Afghanistan. If other trade terms are adopted, the freight and cost of goods must be clearly distinguished on the invoice.
Import tariffs
Algeria has legislated to implement DAPS on imported products since 2018, authorizing the Ministry of Commerce to impose additional tariffs ranging from 30% to 200% on imported products every year, with the purpose of reducing imports and encouraging domestic production.
Starting from October 4, 2021, a temporary additional defense tax (DAPS) will be levied on 992 imported products already produced in the country, with tax rates ranging from 30% to 120%. This may be expanded to 2,608 imported products in the future.
Algeria has legislated a 1% mutual aid tax on imported consumer products since 2018 to subsidize the payment of pensions. This year’s new law will increase the mutual aid tax (contribution de solidarite) applicable to imported consumer products from 1% to 2%.
Importer requirements
1. Importers must comply with the new regulations on the return period of empty containers that will take effect on August 30, 2021, otherwise they will be punished.
2. Final product importers must select exclusive import items and are prohibited from importing unspecified goods at will.
3. Expand the ban on the import of stone, marble, engines, generators and other items already produced in the country. Imports are prohibited unless the importer uses them for his own use.
Product labeling requirements
New regulations stipulate that food and peripheral product packaging must be accompanied by product information barcodes.
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