Canary Islands: suspending duties on industrial products, administration of quotas on fishery products

PURPOSE : to temporarily suspend the autonomous Common Customs Tariff duties on imports of certain industrial products and opening and providing for the administration of autonomous Community tariff quotas on imports of certain fishery products into the Canary Islands. COMMUNITY MEASURE : Council Regulation 704/2002/EC temporarily suspending autonomous Customs Tariffs on imports of certain industrial products and opening and providing for the administration of autonomous Community tariff quotas on imports of certain fisery products into the Canary Islands. CONTENT : the Council adopted this Regulation which temporarily suspends Common Customs Tariff duties imports of certain industrial products into the Canary Islands. This measure aims to improve the competitiveness of the industrial sector in that region by enabling investors and economic operators to reach a level of industrial and commercial activity that makes it worthwhile for cargo transport companies to offer better services at reasonable prices. The Regulation also provides for Community tariff quotas on imports of certain fishery products into the Canary Islands to compensate for the additional costs entailed by their exceptional geographical situation. More specifically, from 1 January 2002 to 31 December 2006 the CCT duties applicable to imports into the Canary Islands of end-consumer products shall be suspended from 1 January 2002 to 31 December 2006 and from 1 January 2002 to 31 December 2011 the CCT duties applicable to imports into the Canary Islands of capital investment goods for commercial and industrial use shall be suspended in full. These goods shall be used for a period of at least 24 months after the release into free circulation by economic operators located on the Canary Islands. ENTRY INTO FORCE : this Regulation shall apply from 1 January 2002. �