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Andean Community approves standard to mitigate the impact of high freight costs in international transport
By PPO Abogados
Faced with the current crisis in the international maritime freight transport sector and the disruption of the supply chain caused by the lack of ships, the intermittent closure of ports and the shortage of containers, the Andean Community approved a rule that allows its member countries to temporarily reduce the freight for customs valuation.The decision was adopted within the framework of the 126 period of ordinary sessions of the Andean Community Commission. It seeks to avoid cost overruns for producers and the increase of prices of final goods for consumers.
In accordance with the decision, each member country may temporarily apply, for the tariff subheadings that it determines, the reduction of a percentage of transportation expenses and/or related expenses. The member country that adopts the measure must communicate it to the General Secretariat of the Andean Community within 90 working days from its entry into force, so that it can be brought to the attention of the other member countries.
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