News

European Commission presented online tool to ease cross-border trade

The tool is suitable for companies already active with cross-border commerce and for those that are just starting to explore opportunities

European Commission

European Commission presented online tool to ease cross-border trade. Source: shutterstock.com

According to Ecommerce News, the European Commission has launched the online portal Access2Markets. This tool offers information, tips, and guidelines for companies engaged in cross-border trade.

This way, the executive arm of the EU wants to simplify access to information, by better explaining trade agreements and helping companies make sure their products are eligible for duty discounts.

The portal is meant for companies that are already active with cross-border e-commerce, but also for those that are just starting to explore opportunities abroad.

In particular, it will prove extremely useful to the SMEs, which not always have the necessary means to compete internationally or are not fully aware of the trade opportunities that the EU is making possible
European Commission

Access2Markets is basically a combination of two formerly existing databases: the Market Access Data Base and the EU Trade Helpdesk. But now it’s a lot easier to look up the information product-by-product and country-by-country.

Access2Markets provides all practical information on topics such as tariffs, taxes at the national and regional level, rules of origin – including a self-assessment tool called ROSA, product requirements, customs procedures, and formalities, VAT/excise duties/sales taxes, trade barriers, and trade statistics by individual goods and country.

We’ve reported that Worten has closed 17 physical stores in Spain and will instead focus more on its online sales channel. The Portuguese electronics retailer has entered into dissolution several times and, according to its auditor PwC, hasn’t provided all the information required to guarantee a viability plan.

SEE ALSO:

Pay Space

6991 Posts 0 Comments

Our editorial team delivers daily news and insights on the global payment industry, covering fintech innovations, worldwide payment methods, and modern payment options.