Goods must be imported for processing and re-exported within a specified period; requires prior approval from PNG Customs.
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Last updated: 1 year ago
News and Updates
Recent News
US-Papua New Guinea Trade Agreement on IPR Goods
A new bilateral trade agreement has been signed between the United States and Papua New Guinea to facilitate the exchange of goods under the Inward Processing Regime (IPR). This agreement aims to streamline customs processes for specific HS Code categories.
2023-10-15
Impact: This agreement is expected to reduce processing times and costs for IPR goods, potentially increasing trade volume between the two nations.
Papua New Guinea Increases Exports of IPR Goods to the US
Recent data shows a 15% increase in exports of goods under the IPR from Papua New Guinea to the United States, driven by demand for processed agricultural products.
2023-09-20
Impact: The surge in exports may strengthen economic ties, but it could also lead to stricter US inspections to ensure compliance with IPR regulations.
US Customs Tightens IPR Compliance for Papua New Guinea Imports
The US Customs and Border Protection agency has introduced stricter documentation requirements for IPR goods imported from Papua New Guinea to prevent misuse of the regime.
2023-08-05
Impact: While this aims to ensure fair trade practices, it may temporarily slow down the clearance of goods and increase administrative burdens for exporters.
Policy Updates
Updated IPR Guidelines for US-Papua New Guinea Trade
The US Department of Commerce has updated guidelines for the Inward Processing Regime, specifying new documentation and reporting requirements for goods under specific HS Codes traded with Papua New Guinea to ensure transparency.
Date: 2023-10-01
Papua New Guinea Revises IPR Export Tariffs
Papua New Guinea has revised its tariff structure for exports under the IPR, reducing rates for certain processed goods to encourage trade with the United States.
