EU Introduces Fastener Import Licensing

The European Union has begun requiring fastener companies to obtain a license to import a range of steel fasteners and some stainless steel fasteners from any country outside the EU.

The surveillance system, reports Fastener + Fixing Magazine, is part of wider ranging measures on steel imports, which EU Trade Commissioner Cecilia Malmstrom says will “assist the Commission to better monitor market developments in the steel sector and will give a strong political message to third countries that the EU is actively following the situation.”

Licenses are required for fasteners imported from the United States impacting subsidiaries of US Corporations operating in the EU.

EU countries are required to administer licensing and report import data to the Commission within ten days of the month end – far quicker than normal compilation of Eurostat import data.

It seems to add a new shadow to EU and china fasteners trade. But at the same time, chinese fastener products is still competitive and quality satisfied. A import license will not lead a fatal strike on this trend. Companys like BaiLian Hardware in China are confident and ready to welcome a new prosperity of EU fastener market!