When governments talk about reducing dependence on the Strait of Hormuz, the discussion usually turns to pipelines in Saudi Arabia and the United Arab Emirates. For Asian importers, that is only part of the story. The physical bottleneck is in the Persian Gulf, but much of the economic exposure sits thousands of kilometers to the […]
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Trade Commissioner Maroš Šefčovič and MEP Dirk Gotink (EPP, Netherlands) Photographer: Mathieu Cugnot © European Union
The European Parliament has approved a major overhaul of the EU’s customs system, tightening requirements on e-commerce platforms, introducing a new handling fee for goods ordered from outside the bloc and creating a central EU customs authority.
“This is the biggest reform of European customs since 1968, supporting trade and the enforcement of EU rules,” said MEP Dirk Gotink, (EPP, Netherlands) who steered the legislation through Parliament. Gotink said European customs authorities had been overwhelmed by a “tsunami of Chinese parcels” and that the reform would give customs officers stronger tools to enforce EU standards.
Under the new rules, e-commerce platforms and sellers shipping goods directly from non-EU countries to European consumers will be treated as importers. That will make them responsible for providing customs data, handling applicable charges and ensuring products comply with EU law.
The reform also introduces an EU-wide handling fee on goods ordered directly from non-EU countries, with member states required to begin collecting it no later than 1 November, 2026. The European Commission will determine the amount and review it every two years.
Companies that repeatedly breach EU customs rules could face fines ranging from at least 1% to as much as 6% of the value of goods they imported into the EU during the previous 12 months.
The overhaul will also establish an EU Customs Data Hub, designed to replace at least 111 existing customs IT systems. A new EU Customs Authority, based in Lille, France, will manage the hub and coordinate customs cooperation and risk management across the EU.
The Council has already given the reform its final formal approval, making Parliament’s vote the final step in the legislative procedure.
ISLAMABAD: Pakistan is set to sign long-delayed agreements with five oil refineries, unlocking more than $6 billion in planned upgrades to modernize aging plants and cut reliance on fuel imports, officials said. But industry warnings that changes to the financial framework could derail the projects overshadowed the announcement. The agreements with Pak-Arab Refinery Ltd., Pakistan ... Read more
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APTMA said testing in several inspected consignments reportedly found the use of food coloring instead of proper dyeing.
The post APTMA praises FBR action against fabric import misdeclaration under EFS appeared first on BOL News.
Pakistan exported about 169,000 metric tons of rice to Saudi Arabia in 2025, worth around $163 million.
The post Pakistan, Saudi Arabia set $3 billion agricultural export target within two years appeared first on BOL News.
KARACHI: State-run Pakistan LNG Limited (PLL) has issued a fresh tender to procure one spot cargo of liquefied natural gas for delivery between September 4 and 8, as global supply disruptions stemming from the Middle East war continue to strain the country’s gas-fired power generation. PLL invited bids from international suppliers for a single cargo ... Read more
The post Pakistan returns to spot LNG market with fresh tender as power generation takes a hit appeared first on BOL News.
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