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New global HS standard enters into force

The new version of the Harmonized System (HS) Nomenclature entered into force on January 1, 2017.

Developed by the World Customs Organization (WCO) and adopted in 1983, this is the Sixth Edition of this global standard, used by over 200 countries and Economic or Customs Unions (including the 154 contracting parties to the HS Convention) for classifying goods in international trade.

The 2017 edition of the HS Nomenclature includes 5,386 six-digit subheadings (compared to 5,205 in the 2012 edition). The majority of the changes in this latest edition were prompted by the Food and Agriculture Organization of the United Nations (FAO). These include amendments for fish and fishery products, the objective being to further enhance the coverage of species and product forms which need to be monitored for food security purposes and for better management of resources.

HS 2017 also features certain classification provisions introduced in order to monitor trade in products such as substances controlled under the Chemical Weapons Convention, hazardous chemicals controlled under the Rotterdam Convention, and persistent organic pollutants controlled under the Stockholm Convention.

Source: JIFFA



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