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The European Union prohibits trade in products obtained from deforestation. What obligations do importers and exporters have?

The European Union prohibits trade in products obtained from deforestation. What obligations do importers and exporters have?

Opinion material by Vladislav Dabija, Senior Manager, and Sorin Popa, Senior Consultant, Global Trade Advisory, Deloitte Romania

European Commission Regulation 1115/2023 regarding products from deforestation (European Union Deforestation Regulation - EUDR), which prohibits the sale, in the community, of products from deforested areas, but also their export to other markets, enters into force at the end of this year, in the first phase for large and medium-sized taxpayers involved in transactions with such products, and provides for a series of verification and reporting obligations for them.

For more information, please see the Romanian version of the article, here.

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DELOITTE CONSULTANTA SRL