Definition: Preferential origin good information refers to the data that identifies the origin of a product or good in accordance with preferential trade agreements. This information is crucial in determining whether a product is eligible for reduced or zero tariffs under specific trade agreements. It includes details such as the country or region where the good was produced or manufactured, the materials used, and the processes involved in its production. In the context of information technology, this data is often stored and managed digitally, enabling efficient tracking, verification, and compliance with trade regulations. Source: EIRA team Additional information: Preferential origin good information refers to the data or details about a product or good that indicate its origin in a specific country or region, which is preferred or given special treatment under certain trade agreements or policies. This information is crucial in international trade, particularly within the context of the European Union's trade policies, as it can impact the tariffs, duties, and regulations applied to the good. The preferential origin good information typically includes details such as where the good was produced or manufactured, the source of its materials or components, and the processes involved in its production. It is used to determine whether the good qualifies for preferential treatment under specific trade agreements, such as reduced tariffs or simplified customs procedures. In the context of information technology, preferential origin good information is often managed and processed through specialized software or systems. These systems can automate the process of determining the preferential origin of goods, ensuring accuracy and efficiency in compliance with trade regulations. The accuracy of preferential origin good information is crucial, as errors or inaccuracies can lead to penalties, delays, or additional costs in the import or export process. Therefore, businesses involved in international trade must ensure that they have robust systems and processes in place to manage and verify this information. In addition, preferential origin good information is also important for consumers, as it can influence their purchasing decisions. For example, some consumers may prefer goods from certain countries or regions due to factors such as quality, sustainability, or ethical considerations. Therefore, providing accurate and transparent preferential origin good information can also be a valuable marketing tool. Example: 1. Automotive Industry: In the automotive industry, preferential origin good information is crucial. For instance, a car manufacturer in Germany might source components from various countries. If a significant percentage of these components are from a country with which the EU has a trade agreement, the finished car may qualify for preferential tariffs when exported to that country. The manufacturer needs to accurately track and document the origin of all components to take advantage of these potential savings. 2. Textile and Apparel Industry: In the textile and apparel industry, the origin of materials can significantly impact the final product's tariff classification. For example, a clothing manufacturer in Italy may source fabrics from India, which has a trade agreement with the EU. If the manufacturer can prove that a certain percentage of the final product is made from these fabrics, they may qualify for preferential tariffs when exporting to India. 3. Electronics Industry: In the electronics industry, preferential origin good information can be used to reduce costs. For example, a smartphone manufacturer in France might source components from various countries. If a significant percentage of these components are from a country that has a trade agreement with the EU, the finished smartphone may qualify for preferential tariffs when exported to that country. The manufacturer needs to accurately track and document the origin of all components to take advantage of these potential savings. 4. Food and Beverage Industry: In the food and beverage industry, the origin of ingredients can significantly impact the final product's tariff classification. For example, a wine producer in Spain may source grapes from South Africa, which has a trade agreement with the EU. If the producer can prove that a certain percentage of the final product is made from these grapes, they may qualify for preferential tariffs when exporting to South Africa. 5. Pharmaceutical Industry: In the pharmaceutical industry, preferential origin good information can be used to reduce costs. For example, a pharmaceutical company in the UK might source active ingredients from a country that has a trade agreement with the EU. If the company can prove that a certain percentage of the final product is made from these ingredients, they may qualify for preferential tariffs when exporting to that country. LOST view: OV-Information Base Identifier: http://data.europa.eu/dr8/egovera/PreferentialOriginGoodInformationBusinessObject EIRA traceability: eira:InformationBusinessObject ABB name: egovera:PreferentialOriginGoodInformationBusinessObject EIRA concept: eira:ArchitectureBuildingBlock Last modification: 2023-07-27 dct:identifier: http://data.europa.eu/dr8/egovera/PreferentialOriginGoodInformationBusinessObject dct:title: Preferential origin good information Information