Screws and Hexagon Heads Anti-dumping Duty On 04 May the South African Revenue Service (Sars) announced the imposition of a provisional payment for full threaded screws with hexagon heads (excluding those of stainless steel), classifiable under tariff subheading 7318.15.39, imported from or originating in the People’s Republic of China (China). At present an anti-dumping duty of 55.4% applies to bolts and nuts imported from or originating in China. Stainless Steel Sinks Duty Increase On 04 May Sars announced an increase in the rate of customs duty (duty) on stainless steel sinks, classifiable under tariff subheading 7324.10. The increase is only applicable to the “General” rate of duty and not the European Union (EU), the European Free Trade Agreement (EFTA), and the Southern African Development Community (SADC). At present three antidumping duties (10.84%, 20.62%, and 62.41%) apply to imports from China, and two anti-dumping duties apply to imports from Malaysia. Montenegro and Samoa WTO Members The World Trade Organisation (WTO) on 29 April advised that Montenegro had became its 154th member, and that Samoa would become its 155th member on 10 May. Montenegro applied for WTO membership on 10 December 2004, and on 30 March 2012 informed the WTO it had accepted its membership package, which is the final step in the accession process. Samoa applied for WTO membership on 15 April 1998, and on 10 April 2012 informed the WTO it had accepted its membership package. Under WTO rules, a country becomes a member 30 days after national ratification. WTO Provides Technical Assistance On 30 April the WTO advised that officials from 26 developing countries were meeting, at a week-long event organised jointly by three Geneva organisations (WTO, International Centre for Trade and Sustainable Development (ICTSD), and Advisory Centre on WTO Law (ACWL), to explore new ways of handling legal disputes and trade litigation. According to ICTSD research, 88% of developing countries say they are at a disadvantage in trade disputes because they have a more limited capacity to handle legal issues. The rest blamed the design of the dispute settlement system. The Advisory Centre on WTO Law advises developing and least-developed countries on all issues relating to WTO law, including free legal advice in general or at discounted rates on WTO dispute settlements. March 2012 Trade Statistics On 30 April Sars released the March 2012 import and export statistics that reflected a trade balance deficit of R5.5 billion. According to Sars the trade deficit for March 2012 narrowed to R5.5 billion, from a deficit of R7.5 billion in February 2012. Exports increased by R5.1 billion (9.0%) to R61.3 billion and imports increased by R3.1 billion (4.8%) to R66.8 billion. The reduced trade balance deficit of R5.5 billion in March was mainly due to increased exports of mineral products, products of the chemicals or allied industries and precious and semi-precious stones, and decreased imports of animal or vegetable fats and oils and their cleavage products. The cumulative trade balance deficit for 2012 is R26.3 billion compared to a cumulative deficit of R5.1 billion in 2011.
