New international tariff nomenclature enters into force

The World Customs Organization (WCO) announces the entry into force on 1 January 2012 of the new version of the Harmonized System Nomenclature, the world’s global standard for classifying over 98% of goods in international trade.

Used by over 200 countries and economic or Customs unions as well as by international organizations such as the United Nations Statistical Division (UNSD) and the World Trade Organization (WTO), the Harmonized System (HS) Convention currently has 141 Contracting Parties, making it the WCO’s most successful instrument to date.

Read the WCO press release.....