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Harmonized System
(redirected from Harmonized code)

   Also found in: Wikipedia 0.02 sec.
Harmonized System
A nomenclature system for goods and services that countries import and export. The Harmonized System assigns numeric codes to goods and services. Participating countries are required to use this code when describing their tariff schedules. Nearly all international trade occurs under the Harmonized System. It was developed by the World Customs Organization.


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The good (and bad) news about having a harmonized code such as FSANZ is that a product, which is compliant and already selling in one market, will automatically comply with the other market.
Import duties on commercial fishing equipment range from 0% to15% of the CIF value and some items can be imported duty free as per the aforementioned product list by Harmonized Code.
Countries like Japan have more than 200 trade laws for each Harmonized Code, which create more than 17,000 different regulations on imports," Forrester said.
 
 
 
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