TRADE BRIEFS

TRADE BRIEFS

EC AUTHORIZES LIMITS

ON JAPANESE IMPORTS

BRUSSELS, Belgium - The European Commission said Wednesday it will allow Spain and Italy to limit until the end of the year the number of Japanese vehicles imported through other European Community states.

Under an EC rule that allows a country to limit foreign-made imports from another member state when a national industry is threatened by imports, the

Commission also allowed Italy to set limits on Japanese motorcycle imports.

CUSTOMS FORMALIZES

CANADA TRADE RULES

WASHINGTON - The U.S. Customs Service Wednesday announced its final regulations implementing the duty preference provisions of the U.S.-Canada Free Trade Agreement.

The regulations, published Wednesday in the Federal Register, clarify the value content requirement for tariff preference and describe the terms of the free-trade agreement, the records businesses are required to keep and the process they must follow to make claims for tariff preference.

The agreement provides for duty- free or reduced-duty treatment on merchandise produced in, and imported from, Canada. The final regulations take effect upon publication.

CHILE TO REDUCE PERIOD

FOR CAPITAL REPATRIATION

SANTIAGO, Chile - The government will change the Chilean foreign investment statute, DL600, to allow repatriation of capital after just one year instead of the previous three-year requirement, officials announced. Parliament still has to approve the modification.

This will be the most significant change to DL600 since the investment mechanism was launched in 1974, and is aimed at encouraging more foreign investment in the country, Alejandro Foxley, minister of finance, told a press conference here.

Last year, foreign investment under DL600 totaled US$1.1 billion, a figure the government hopes to repeat this year.