IMPROVEMENT OF THE HARMONIZED COMMODITY DESCRIPTION AND CODING SYSTEM IN THE CIRCULAR ECONOMY ENVIRONMENT

Abstract

The article is devoted to the concept of a circular economy, which has attracted significant attention from the government and business as a sustainable approach to resource management and economic development. The author analyzed the implemented and planned stages of the transition to a circular economy within the framework of existing business models, as well as the potential for further development and the problems associated with such transition. Based on the data obtained, the role of the Harmonized Commodity Description and Coding System (HS) in ensuring identification, traceability and correct customs control of recycled goods. The material discusses several areas for improving the HS in this area: the development of specific codes for the accurate classification of secondary goods, the introduction of terminology to accurately identify goods within the circular economy, as well as the integration of the HS with other international instruments, such as the Basel Convention, to ensure full control of secondary goods.
 As a conclusion, this article argues for the need to discuss circular economy issues at future sessions of the World Customs Organization (WCO) and review the existing structure of the HS.