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EU sets out ambitions for closer relationship with China

Industry News | | MIC Customs Solutions |

The EU has adopted a joint communication mapping out the European Union's relationship with China for the next five years.


The European Union has laid out a new roadmap for establishing a closer political and economic relationship with China over the next half-decade.

A joint communication has been adopted by the European Commission entitled 'Elements for a new EU strategy on China', which identifies a number of major opportunities to expand EU-China dealings to create jobs and growth, while opening up of the Chinese market to European businesses.

For example, the EU is hoping to agree an ambitious and comprehensive agreement on investment and a Chinese contribution to the Investment Plan for Europe, as well as establishing joint research and innovation activities and connecting to the Eurasian continent via a physical and digital network.

In the longer term, a free trade agreement may be considered, assuming that reforms to level the playing field for domestic and foreign companies can be introduced, particularly in terms of cuts to China's industrial overcapacity - notably in the steel sector - to prevent negative consequences from unfair competition.

Efforts will also be made to further strengthen the effectiveness of the EU's Trade Defence Instruments, while the EU will continue to support China's economic and social reform programme to drive the elimination of state-induced economic distortions and the reformation of state-owned enterprises.

Additionally, the joint communication highlighted a number of opportunities for closer cooperation and partnership between the EU and China in the fields of foreign and security policy, and it will be presented to the European Council and European Parliament for further consideration.

Federica Mogherini, high representative and vice president for foreign affairs and security policy at the European Commission, said: "The EU and China already cooperate on so much: we work together on the global and political issues of our times, such as Iran, Syria, Afghanistan, migration and climate change.

"But we can and must do more to connect the EU and China. Our citizens, industries and organisations can all benefit from a closer, improved and better-defined EU-China relationship based on shared responsibility."


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MIC - Customs and Trade Compliance Software Solutions worldwide

Multinational companies are facing greater compliance challenges when addressing the continuously evolving international legal requirements. Customs and trade compliance management has a significant impact on production location and purchasing decisions, delivery times, cost savings and competitive advantages. Thus, it is crucial to establish processes that are accurately, effectively, and efficiently managed utilizing proven global IT solutions.

The international requirements for companies regarding customs and trade compliance management are complex and subject to ongoing legal changes covering a multitude of topics, such as: Correct product classification, compliance with export control regulations, numerous sanction list screenings, calculation of origin based on ratified free trade agreements, supply chain security initiatives, and management of special customs regimes as part of the import and export clearance processes. In addition, country-specific legal requirements that include legislative and technical changes make it increasingly difficult to completely fulfill the requirements of international customs and trade compliance.

A partnership with MIC strengthens a company’s ability to deal with the daily operational challenges of international customs and trade compliance management. MIC has a trendsetting Global Trade Management (GTM) software solution that allows companies to standardize and automate their customs and trade compliance processes. MIC’s software solution is available on 6 continents and can be configured according to the company’s specific needs to significantly improve legal compliance, thus saving time, money, and eliminating future business disruptions.

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MIC provides the software via its data center infrastructure. On request, a MIC partner can take over the daily operational handling (managed services).

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Customs Filing

Automated electronic export and import customs clearance processes, including special customs regimes and inventory management: Import, Export, Transit, Inward & Outward Processing Relief, Bonded Warehouse, Foreign Trade Zones, Intrastat, Central Clearance – SASP, EMCS and more. “We do the last mile!”

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Central Classification

Global part master data management with increased degree of automation in customs tariff & export control classification of products based on regularly updated national customs tariffs and export control commodity lists.

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FTA Management

Automated preferential and non-preferential origin calculation for 250+ free trade agreements as well as electronic exchange of customer supplier declarations. Management of supplier declarations via supplier web portal.

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Export Controls

Central export control check of business transactions, including sanctioning list check, embargo check, end-user / end-use check, determination of approval requirements and management of approvals.

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Global Implementations

There are various customs regulations and requirements programs throughout the world. Examples include ACE, FTZ and Duty Drawback in the USA, IMMEX in Mexico, the Union Customs Code (UCC) in the EU (and its various national characteristics), the Free Zone in Thailand, and the China Single Window. All of these have the objective of making customs procedures simpler, more modern and more efficient.

MIC Global Trade Management (GTM) software helps companies maintain international visibility and to take advantage of these program changes in legislation. We know the intricacies of national and regional customs and export control requirements. Our software takes account of the respective regulations and uses similarities in global customs and export control law. This is done in 55+ countries on 6 continents with regularly updated trade content for 150+ countries. In addition, our data analytics & visualization tool enables improved decision making by identifying optimization potentials and supply chain trends across global customs and trade compliance processes. As a result, global business processes can be designed and automated more efficiently. This not only increases compliance, but also saves time, money and increases global competitiveness.

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