Rules of Origin circumvention prompts suspension of preferential copper exports and potential withdrawal of concessions under agreement. Surge in copper imports from Sri Lanka is attributed to circumvention of the Rules of Origin 35% value addition requirement via under invoicing and manipulation; Sri Lanka lacks upstream copper processing capacity to meet 35% value addition. Indian authorities have requested immediate cessation of exports of copper strips and profiles and suspension of other copper exports within six weeks, will honour existing origin certificates until further notice, and consider the situation a critical circumstance warranting possible withdrawal of preferential concessions under the Agreement.
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Rules of Origin circumvention prompts suspension of preferential copper exports and potential withdrawal of concessions under agreement.
Surge in copper imports from Sri Lanka is attributed to circumvention of the Rules of Origin 35% value addition requirement via under invoicing and manipulation; Sri Lanka lacks upstream copper processing capacity to meet 35% value addition. Indian authorities have requested immediate cessation of exports of copper strips and profiles and suspension of other copper exports within six weeks, will honour existing origin certificates until further notice, and consider the situation a critical circumstance warranting possible withdrawal of preferential concessions under the Agreement.
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