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KAFTA moves towards implementation in 2014

In the last week, there have been a number of significant events in the process towards implementation of the KAFTA with the apparent aim to do all things possible to have implementation commence in 2014.

New KAFTA legislation introduced

The first event was the introduction into Parliament of the 2 Customs Bills required to be passed to implement the “customs aspects” of the KAFTA.  In accordance with previous practice there are 2 Bills, the first Bill being the amendment to the Customs Act 1901 to gives effect to the Rules of Origin in the KAFTA by way of a new Division 1J to Part VIII of the Customs Act..  The second Bill comprises the amendments to the Customs Tariff Act 1995 to implement the KAFTA.  This includes: More…