The Faroes and Sweitzerland sign a new Annex 3 on Rules of Origin (Pan-Euro-Med) to their Free Trade Agreement
Mr Hákun J. Djurhuus, Head of the Mission of the Faroes to the EU and H.E. Mr Bernhard Marfurt, Ambassador, Head of the Mission of the Swiss Confederation to the EU, today signed an agreement for a new Annex 3 to their Free Trade Agreement. This is required due to the entry of the Faroes into the Pan-Euro-Med Rules of Origin system on 1 December 2005.
The Faroes and Sweitzerland sign a new Annex 3 on Rules of Origin (Pan-Euro-Med) to their Free Trade Agreement Mr Hákun J. Djurhuus, Head of the Mission of the Faroes to the EU and H.E. Mr Bernhard Marfurt, Ambassador, Head of the Mission of the Swiss Confederation to the EU, today signed an agreement for a new Annex 3 to their Free Trade Agreement. This is required due to the entry of the Faroes into the Pan-Euro-Med Rules of Origin system on 1 December 2005. In order to use the Pan-Euro-Med Rules of Origin, countries within the system must have a bilateral Free Trade Agreement and these agreements must be amended with identical protocols on Rules of Origin.
With the Pan-Euro-Med it is possible for Faroese industry to use the system of cumulation with the EU, Iceland, Norway, Switzerland and vice versa.
The new protocol with Switzerland will take effect from 1. January 2006. |
Mr Hákun J. Djurhuus, Head of the Mission of the Faroes to the EU and H.E. Mr Bernhard Marfurt, Ambassador, Head of the Mission of the Swiss Confederation to the EU, congratulate each other after signing the agreement. |