US-Cyprus Trade Agreement Boosts Firearms Exports
A recent bilateral trade agreement between the United States and Cyprus has facilitated an increase in the export of sporting shotguns and rifles from the US to Cyprus under HS Code 9303. The deal aims to streamline customs processes for such goods.
2023-10-15
Impact: This agreement is expected to increase US exports of firearms like sporting shotguns by reducing tariffs and administrative barriers, potentially boosting trade volume by 15% in the next year.
Cyprus Imposes Stricter Import Controls on Blank-Firing Pistols
Cyprus has introduced new import regulations on blank-firing pistols and revolvers from the United States, citing concerns over potential misuse. Importers must now provide additional documentation for compliance.
2023-09-22
Impact: These controls may slow down the import process for blank-firing pistols, potentially reducing US exports of these items to Cyprus by 10-20% in the short term due to increased compliance costs.
US Manufacturer Expands Market for Signal Flare Devices in Cyprus
A leading US manufacturer of Very pistols and signal flare devices has entered the Cypriot market, securing a deal with a local distributor to supply maritime safety equipment.
2023-08-30
Impact: This expansion is likely to increase US exports of signal flare devices to Cyprus, contributing to a niche but growing segment of trade under HS Code 9303.
