Kerim Allam

An Arab Certificate of Origin is a non-preferential document that certifies what the origin of the products is in a shipment. This may be requested by a client for import for countries in the Arab League which are:

Algeria, Bahrain, Comoros, Djibouti, Egypt, Iraq, Jordan, Kuwait, Lebanon, Libya, Mauritania, Morocco, Oman, Palestine, Qatar, Saudi Arabia, Somalia, Sudan, Syria, Tunisia, United Arab Emirates, Yemen.

The Union Customs Code is the EU legislation which provides the legal basis and generic requirements of EU (including UK) customs formalities. Introduced on 1st May 2016, the Union Customs Code also covers special procedures including Customs Warehousing (CW),Temporary Admission (TA), Inward and Outward Processing.

Gross Domestic Product (GDP) is the gross market value of the total goods and services produced within the domestic boundaries of a country during a given period of time. It is also known as National Income (Y). Total imports and total exports are essential components for the estimation of a country’s GDP. They are taken into account as “Net Exports”.

GDP = C + I + G + X – M

Where:

• C = Consumer expenditure
• I = Investment expenditure
• G = Government expenditure
• X = Total exports
• M = Total imports

Contract logistics is the outsourcing of resource management tasks to a third-party company. Contract logistics companies handle activities such as designing and planning supply chains, designing facilities, warehousing, transporting and distributing goods, processing orders and collecting payments, managing inventory and even providing certain aspects of customer service.

A trade deficit can occur for a number of reasons, but typically a country has a deficit when it's unable to produce enough goods for its consumers and businesses.

For example, a country might have a limited amount of natural resources and as a result, needs to import raw materials such as lumber or oil to satisfy the country's demand for those commodities. Countries might also specialize in specific goods or industries.

For example, Canada exports seafood, oil, and lumber, while China exports electronics, clothing, footwear, and steel. A land-locked country would have no access to the sea and would need to import seafood to satisfy its' consumer demand.

As a result, a trade deficit isn't necessarily a bad sign for an economy. On the contrary, a deficit could be a signal that a country’s consumers are wealthy enough to purchase more goods than their country produces.