Monday May 23 2016
News Source: Global Disclosures
Focus: Foreign Investment
Type: General
Country: Canada
On 07 May, 2016, Global Affairs Canada announced that Canada intends to legally remove Belarus from the Area Control List (ACL). Belarus has been on the Area Control List since 14 December, 2006. This is consistent with actions taken by the United States and EU since October 2015.
The ACL is a Canadian regulation pursuant to the Export & Import Permits Act. In Canada it is an offence to export or transfer goods or technology to a destination on the Area Control List, unless the transaction is covered under the authority of an export permit.
North Korea will be the only country remaining on the ACL, following the removal of Belarus from the list.
Please click on the link above for further details on the ACL.