The European Commission will allocate the equivalent of about $250 million to fund 2020 promotion activities for European agricultural goods, with more than half of the funding going toward campaigns promoting exports, the commission said in a Nov. 19 press release. The funding will raise the competitiveness of the European agricultural sector and help during “market disturbances,” the commission said. The commission will target several export markets with “high-growth potential,” including Canada, China, Japan, South Korea, Mexico and the U.S. The Commission said “eligible sectors” include dairy and cheese, olive oil and wine.

Italy introduced two value-added tax-related measures that are expected to be signed into law by Dec. 25, including a measure impacting VAT payments on fuel products in VAT warehouses and a change to the country’s frequent exporters’ scheme, KPMG said in a Nov. 14 alert.

The United Kingdom's Department for International Trade updated its guidance on continuity trade agreements with non-European Union countries in a no-deal Brexit scenario, according to a Nov. 14 notice. The guidance added Jordan to the list of signed trade agreements.

The United Kingdom's Office of Financial Sanctions Implementation updated its sanctions guidance for Venezuela with several amendments and changes to identifying information, OFSI said Nov. 13. The changes amend eight entries subject to asset freezes and correct identifying information for 16 additional entries, OFSI said.

In the Nov. 14 editions of the Official Journal of the European Union the following trade-related notices were posted:

The European Union-Singapore free trade agreement contains several significant rules of origin that may impact companies’ ability to benefit from the deal, KPMG said in a Nov. 13 post. The deal, which will take effect Nov. 21, is expected to eliminate Singapore tariffs on EU goods and remove all EU tariffs within a few years (see 1911080069). The deal’s rules of origin will be used to determine whether goods are eligible for preferential treatment and are product-specific, meaning the criteria that determines whether an item qualifies for a preferential tariff varies from product to product, KPMG said.

The European Commission will soon introduce the “world’s first comprehensive database” of procurement data and barriers to international trade and procurement, the commission said Nov. 13. The database will provide “detailed data” on government contracts and trade barriers faced by European Union companies, and aims to improve EU companies’ access to public procurement contracts in non-EU countries. The database covers nine “key EU trading partners,” the commission said: Australia, Brazil, Canada, China, India, Indonesia, New Zealand, Thailand and the United States.

The European Commission recently issued its 2019 report on “bottlenecks” in the supply chain that restrict the flow of materials used for technologies in Europe’s defense and civil industries. The report focuses on five dual-use technologies -- advanced batteries, fuel cells, robotics, unmanned vehicles and 3D printing -- and details how Europe can strengthen its position “along the selected technologies’ supply chains,” the commission said. The commission said “potential opportunities for common policy action” include increasing “collaboration between stakeholders” and increasing industry involvement with “special emphasis” on small and medium-sized businesses.

A European Union effort aimed at harmonizing value-added tax measures across member nations will take effect in Hungary on Jan. 1, 2020, KPMG said in a Nov. 11 post. The European Commission recently issued a draft version of its “explanatory notes” on the new rules, which will include four changes, KPMG said: a “simplified treatment for call-off stock,” unified rules to simplify chain transactions, a “mandatory” VAT identification number to apply the zero VAT rate and “simplified proof of intra-Community supplies.” The explanatory notes will provide guidelines for “adjusting to the new rules as well as guidance for possible practical challenges,” the post said.

In the Nov. 11-12 editions of the Official Journal of the European Union the following trade-related notices were posted: