INTERNATIONAL TRADE


INTERNATIONAL TRADE COURSES


SPOTLIGHT ON: KOSOVO


By Elmaze Pireva, Counsellor – Head of Economic and Commercial Affairs, Embassy of Republic of Kosovo


MARCH


Understanding commodity coding Date: Time:


17 March 9:15am – 1:30pm


Location: Nottingham Price:


Intrastats explained Date: Time:


2 April 9:30am – 12:30pm


Location: Nottingham Price:


£139+VAT (members), £199+VAT


(non-members)


New incoterms 2020 rules Date: Time:


7 April 9:15am – 1:30pm


Location: Chesterfield Price:


Rules of Origin and international trade preferences Date: Time:


8 April 9am – 12:30pm


Location: Chesterfield Price:


£139+VAT (members), £199+VAT


(non-members)


Inward/outward processes Date: Time:


15 April 9:30am – 1pm


Location: Nottingham Price:


£139+VAT (members), £199+VAT


(non-members)


Customs declaration training Date: Time:


16 April 9:30am – 4:30pm


Location: Nottingham Price:


£280+VAT (members), £350+VAT (non-members)


For more information and to book your place on any of the Chamber’s upcoming International Trade courses, call our dedicated team on 0333 320 0333 (option four) or visit www.emc-dnl.co.uk/enabling- international-trade


60 business network March 2020


Free Trade Agreement (CEFTA) - enabling its producers to access the regional market of 28 million consumers, with no customs duty. In addition to having created free access throughout the European Union market, with over 500 million consumers, Kosovo has preferential trade measures with USA, Japan and Norway. With the purpose of facilitating production at a lower operational and export cost, free economic areas have been created, which are available to foreign and local investors. Being a country with 70% of the


£184+VAT (members), £244+VAT (non-members)


£139+VAT (members), £199+VAT


(non-members)


Kosovo is located in the heart of the Balkans and, in this regard, acts as a bridge between the Balkan countries. Kosovo’s capital, Prishtina, is


within a one-hour drive to any neighboring country. Constitutional regulation of the economy of Republic of Kosovo is based on the market economy principles with free competition. Therefore, the government of the Republic of Kosovo has a liberal trade regime based on these principles. Since 1999, Kosovo’s legal


system has been rebuilt and is now completely compatible with the EU legislation and standards. All the laws and regulations in Kosovo are available online in English on a dedicated portal that has been created by government and foreign organisations (gzk.rks-gov.net). According to the law on Foreign


Direct Investments, foreign investors enjoy protection against expropriation and nationalisation. The repatriation of profits and transfer of invested capital is free and unrestricted. Kosovo, as the newest state in


Europe, has already managed to establish political and macroeconomic stability, and has established a package of laws that not only create facilities for investment, but also a safe climate for doing business. The government is promoting


very favorable fiscal policies for businesses. Kosovo has the lowest taxes in Europe, offering foreign investors a tax of only ten per cent in corporate profits, progressive


personal income tax of a maximum ten per cent; VAT standard rate 18% - in basic living goods eight per cent, in basic living services including health services and education zero per cent; only five per cent compulsory pension contributions and zero per cent tax on dividends.


‘In addition to having created free access throughout the European Union market, with over 500 million consumers, Kosovo has preferential trade measures with USA, Japan and Norway’


Kosovo is well stocked with


natural resources and agricultural land and is strong in the sectors of agriculture, food and wood processing, construction, textile and IT. According to Eurostat's publication Basic figures on Enlargement countries, Edition 2019, Kosovo had the highest percentage of households with home-based Internet access in the region (93%) in 2018; while automotive components, energy and mining offer the most opportunities for foreign investors as well as many more possibilities for investing in other sectors. Kosovo currently enjoys free trade within the Central Europe


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