Croatia joins the euro area, Sweden takes over the presidency of the EU Council on January 1
The European Central Bank (ECB) and Croatia’s central bank Hrvatska narodna banka have agreed to monitor the development of the Croatian kuna against the euro on the foreign exchange market until January 1, 2023.
On January 1, Croatia will join the eurozone with a kuna conversion rate of 7.53450 per euro, Sweden will take over the rotating presidency of the Council of the EU for a six-month period, and the second phase of the woven bag rule. garments made from blue denim fabric under the US-Mexico-Canada agreement is implemented.
With the entry into force of the close cooperation between the ECB and Hrvatska narodna banka on 1 October 2020, the ECB became responsible for directly supervising eight significant institutions and supervising 15 less significant institutions in Croatia.
With Sweden taking over the rotating presidency of the EU Council, they will also work with the 18-month program drawn up together with predecessors France and the Czech Republic. Early completion of the India-EU free trade agreement will be among its priorities and it will act as an “honest broker”, Swedish Foreign Trade Minister Johan Forssell said earlier.
While the second phase will be implemented from January 1, 2023, the first phase of the pocket fabric rule applicable to woven garments made from blue denim under the United States-Mexico-Canada Agreement (USMCA) came into force on January 1 in year.
The first phase provides that for garments under Harmonized Tariff Schedule of the United States Code (HTSUS) chapters 61 and 62 that contain a pocket or pockets, the fabric of the pocket must be formed and finished within the territory of one or more USMCA countries from yarn wholly produced in a or multiple USMCA countries.
Fibre2Fashion News Desk (DS)