On 18 June 2014, the European Free Trade Association (EFTA) announced that the free trade agreement (FTA) between the EFTA States – Iceland, Liechtenstein, Norway and Switzerland – and the Cooperation Council for the Arab States of the Gulf (GCC), comprising Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates, will become operational for all parties. The FTA, which was signed five years ago, covers activities such as trade in goods, trade in…
On February 24, 2014, the Treasury Department published in the Federal Register, in accordance with section 999(a)(3) of the Internal Revenue Code of 1986, a current list of countries which require or may require participation in, or cooperation with, an international boycott (within the meaning of section 999(b)(3) of the Internal Revenue Code of 1986). On the basis of the best information currently available to the Department of the Treasury, the following countries require or…
The US Foreign Agricultural Service (FAS), in a Global Agricultural Information Network (GAIN) Report dated December 8, 2013, reports that in November 2013, the Saudi Food and Drug Authority (SFDA) posted on its webpage a notice stating that it will fully implement a mandatory electronic customs clearance system (E-Clearance) for all food products imported into the Kingdom starting on January 1, 2014. It is the FAS’ understanding that this procedure includes prepackaged food products as…