What is the Pan Euro Med Zone?

What is the Pan Euro Med Zone?

The Pan-Euro-Mediterranean (PEM) convention on preferential rules of origin aims at establishing common rules of origin and cumulation among the partner countries and the EU to facilitate trade and integrate the supply chains within the zone.

What is cumulation in rules of origin?

Cumulation is the term used to describe a system that allows originating products of country A to be further processed or added to products originating in country B, just as if they had originated in country B. The resulting product would have the origin of country B.

What is the PEM Convention?

The Pan-Euro-Mediterranean Regional Convention on preferential origin rules sets out the rules to be met by goods to obtain originating status in a certain country and enables the application of the diagonal cumulation of the origin of goods between the member countries of this Convention.

What is Pan-Euro-Mediterranean cumulation of origin?

The system of Pan-Euro-Mediterranean cumulation of origin allows for the application of diagonal cumulation between the EU, EFTA States, Turkey, the countries which signed the Barcelona Declaration, the Western Balkans and the Faroe Islands.

How does the Pan-Euro-Mediterranean cumulation zone work?

Pan-Euro-Mediterranean cumulation zone The convention operates on the basis of an accumulation system whereby contracting parties can use originating products from each other as though they were domestically produced.

What is the Pan-Euro-Mediterranean System of preferential rules of origin?

Proposal for a Council Decision on the conclusion of the regional convention on pan-Euro-Mediterranean preferential rules of origin [COM (2010) 172 final – Not published in the Official Journal]. The draft convention lays down rules allowing the origin of goods traded under free trade agreements in the pan-Euro-Mediterranean zone to be determined.

Is the Regional Convention on Pan-Euro-Med preferential?

CONSIDERING that the following regional Convention does not lead overall to a less favourable situation than in the previous relation between the free trade partners which apply the pan-euro or pan-euro-med cumulation,

Is the Faroe Islands part of the Pan-Euro-Mediterranean?

hereinafter referred to as “the Faroe Islands”, hereinafter referred to together as the “Contracting Parties”, CONSIDERING the pan-Euro-Mediterranean system of cumulation of origin, which is made up of a network of Free Trade Agreements and provides for identical rules of origin allowing for diagonal cumulation,