Author (Corporate) | Council of the European Union |
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Series Title | Official Journal of the European Union |
Series Details | L 420, Pages 1-5 |
Publication Date | 25/11/2021 |
Content Type | Legislation, Policy-making |
Summary: Regulation (EU) 2021/2048 - adopted by the Council of the European Union on 23 November 2021 - temporarily suspending autonomous Common Customs Tariff (CCT) duties on imports of certain industrial products into the Canary Islands. Further information: Council Regulation (EU) No 1386/2011 provided for the temporary suspension of the autonomous CCT duties on imports of certain industrial products into the Canary Islands (Spain). These Islands belong to theĀ Outermost Regions of the European Union, for which special measures may be foreseen to overcome the economic disadvantages these regions suffer due to their geographical situation. The measures provided for in that Regulation were due to expire in December 2021. In April 2021, the Spanish government requested the prolongation of the suspension of CCT duties for a number of products. According to the request the constraints faced by the region, being structural and permanent, continued to be related to isolation, the small size of the market and its fragmentation. The Canary Islands, because of those limitations, have a higher cost of production and transport, and higher environmental costs. They are also unable to benefit from globalisation to the same extent as other European regions. The requested suspension scheme was intended to reduce these constraints on the Canary Islands market. The Spanish authorities requested the suspension of the CCT duties for seven new product categories. The draft law was tabled by the European Commission on 14 July 2021. The Council of the European Union adopted the proposed Regulation on 23 November 2021. The Act was published in the Official Journal on 25 November 2021. |
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Source Link | Link to Main Source http://data.europa.eu/eli/reg/2021/2048/oj |
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Subject Categories | Business and Industry, Taxation, Trade |
Subject Tags | Customs Union, Regional Dimension |
Keywords | Common Customs Tariff, Outermost Regions |
Countries / Regions | Spain |
International Organisations | European Union [EU] |