Whypromoting import? Y= C+I+(X-M) Part of Eurozone Exports 2008: 91 % of GDP
Which strategy to follow? Big countries >< Small countries
Gateway to Europe 250km: 18% of EU market (GDP) 15% of consumers 500km: 60% of EU market (GDP) 38% of consumers 750km: 75% of EU market (GDP) 66% of consumers http://www.diplomatie.be
CUSTOMS UNION Free exchange of goods, people, money and services No customs duties or taxes when moving goods or money within EU Common external tariffs
Import procedures Realease for free circulation Transit procedure Customs Warehousing Inward processing Temprary importation Entry into a free zone or warehouse Find more information on: http://exporthelp.europa.eu/thdapp/taxes/show2Files.jsp?dir=/requirements&reporterId1=EU&file1=ehir_eu10_01v001/eu/main/ovr_eu_010_0612.htm&reporterLabel1=EU&label=Overview+of+Import+Procedures&languageId=en
Import duty regime Custom Union => same import duty all over European Union Import tariffs applied: Most Favoured Nation tariffs to all WTO-agreement signatories Import tariffs applied to goods imported to the EU can be found in the tariff schedule TARIC – Integrated Tariff of the European Communities (http://ec.europa.eu/taxation_customs/dds/tarhome_en.htm)
THE PERFECT TEST MARKET Gateway to European market Successful launch on Belgian market: good indicator of similar success on the greater European market High acceptance of foreign products Multi-cultural population (31% foreigners)
START A BUSINESS Time required to start a business (in days) Which legal form to choose for your company?
FLEXIBLE CUSTOMS System of ‘customs warehouses’ : offers possibility to store non-EU goods free of customs duties, trade policy measures, VAT & other taxes (and this for an unlimited period). Deferred payment of import duties and VAT, i.e. the payment of custom duties and VAT are put off until the importer releases the goods into the market for use in the EU. Network of public & private bonded warehouses (special scheme with the Customs Department) Simplified procedures for declaration & special rulings possible Flexible European transit system with tax suspension
1. BRUSSELS, FRONT DOOR TO EUROPE Brussels Import Agency is a new initiative of BECI (Brussels Enterprises Commerce and Industry) in partnership with VOKA (Kamer van Koophandel Halle-Vilvoorde). The two basic missions of BIA are: • Helping companies develop their commercial relations and import/export projects • Increasing the profit of our companies by opening their reference market (presentation of new clients, new suppliers, new products)
2. SERVICES Information on legislation and formalities Second opinion on business plan Contacts with potential client and suppliers Organisation of seminars
3. EXAMPLE Indian exporters to the European Union
must comply with the REACH regulation on chemicals, which requires the registration of substances imported in the EU. BECI can help you cope with the sometimes complex process of registration with the European Chemicals Agency (ECHA). Non-EU companies require a presence in the EU to register. This presence can be a subsidiary of the Indian company, an importer, or in the absence of both, a company-appointed “Only Representative”. BECI can help you select a qualified service provider to act as only representative.