Select one of these statements and discuss in no more than 1000 words (I Chose Statement 3) Statement 1 “The classification of parts and accessories is the most complex task in the classification of goods process”. Statement 2 “The subjective nature of the concept of essential character is the weak link in the overall process of the classification of goods”. Statement 3 “The last few years have seen an overall decline in import duty rates around the world. This has been accompanied by a decline in the importance of the Harmonized System Nomenclature, and this trend will continue” Harmonized System Nomenclature http://www.wcoomd.org/en/topics/nomenclature/instrument-and-tools/hs-nomenclature-2017-edition/hs-nomenclature-2017-edition.aspx Rationale The purpose of this assignment is to enhance and assess your understanding of the Harmonized System Nomenclature structure and the classification process Marking The following criteria and weighting will be used in marking of this assignment: Your ability to: Correctly identify and articulate the selected issue or topic affecting the Harmonized System (0.15) Focus on, analyse and explain the key aspects of the HS topic selected (0.7) Provide evidence of research and due and appropriate referencing. (0.15)