Harmonized System
Harmonized System: formally the Harmonized Commodity Description and Coding System. An international nomenclature developed by the World Customs Organization. It is arranged in six-digit codes under 97 chapters. It allows all participating countries to classify traded goods on a common basis. Beyond the six-digit level, countries are free to introduce national distinctions for tariffs and many other purposes. The Harmonized System's aims are (a) to achieve international uniformity in the classification of goods for customs purposes, (b) to facilitate the collection, analysis and comparison of world trade statistics, (c) to provide a common international system for coding, describing and classifying goods for commercial purposes, and (d) to provide an updated nomenclature to take account of technological developments and changes in international trade patterns.
Source: http://ctrc.sice.oas.org/trc/WTO/Documents/Dictionary%20of%20trade%20%20policy%20terms.pdf
Web site to visit: http://ctrc.sice.oas.org
Author of the text: W. Goode
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