Foreign trade law

Definition of foreign trade law

Foreign trade law includes all legal provisions that affect economic transactions that go beyond the boundaries of an economy. Due to the German membership in the EC, the legal framework for foreign trade can also be found in the respective EC regulations and EC directives.

A distinction must be made for Germany:

The Foreign Trade Act (AWG), which regulates the handling of all foreign trade. According to this, German trade with foreign economic areas as well as trade with foreign assets and gold is basically free (§ 1 AWG). However, there are general and special restriction options. The extensive import list is attached to the AWG as an annex, which contains goods that do not require approval and that require approval.

The Foreign Trade Ordinance (AWV), in which the ordinances based on the AWG are summarized and the import and export procedures are regulated.

The jurisdiction ordinance that determines who is authorized to issue import and export permits.

Was the explanation to "Foreign trade law"Helpful? Rate now:

More explanations too