Description: The WTO Nomenclature Agreements are a set of international rules and guidelines established by the World Trade Organization (WTO) to standardize the classification of goods and services for international trade. They aim to ensure transparency, predictability, and consistency in the application of customs duties and other trade-related measures. Additional information: The WTO Nomenclature Agreements are an integral part of the international trade system, providing a common language for trade to facilitate clear and consistent communication among trading partners. They cover a wide range of areas, including goods (Harmonized System), services (Central Product Classification), and intellectual property (Nice and Vienna Classifications). They are used by customs authorities, statistical agencies, and other government bodies to classify goods and services for the purposes of customs duties, trade statistics, rules of origin, and other trade policy measures. They also serve as a basis for trade negotiations and the settlement of trade disputes. Example: For instance, a company exporting goods from one country to another would use the Harmonized System codes specified in the WTO Nomenclature Agreements to classify its products. This would determine the customs duties it needs to pay and ensure that its products are correctly classified for statistical and regulatory purposes. Similarly, a service provider would use the Central Product Classification codes to classify its services for trade in services statistics and regulatory measures. Publisher: World Trade Organization Source: https://www.wto.org/english/thewto_e/whatis_e/tif_e/agrm1_e.htm LOST view: SV-Tax Semantic Agreements Catalogue Identifier: http://data.europa.eu/dr8/egovera/WTONomenclatureAgreementsContract EIRA traceability: eira:SemanticAgreementContract EIRA concept: eira:SolutionBuildingBlock Last modification: 2023-07-27 dct:identifier: http://data.europa.eu/dr8/egovera/WTONomenclatureAgreementsContract dct:title: WTO Nomenclature Agreements Contract