Amber Road now supports new agreements in North America, Asia, Europe and South America. This includes many of the bilateral/multilateral agreements such as the African Growth and Opportunity Act (AGOA), the ASEAN-Japan Comprehensive Economic Partnership Agreement (AJCEP), the European Free Trade Association (EFTA), the China-Switzerland FTA, the Mexico-Central America FTA, and the many Generalized System of Preferences (GSP) programs that have emerged recently.
Utilizing Amber Road’s FTA Management solution can help open up new markets for companies by simplifying the compliance and qualification processes. With new FTAs just passed or on the horizon, such as the EU-Canada FTA, sourcing decisions can be made with an eye towards potential trade benefits from the start. These capabilities are driven by Amber Road’s Global Knowledge® database of global trade content which contains the rules of origin, product classifications, and duties and taxes for the major trade agreements.
“The Free Trade Agreements solution is a cornerstone of our GTM platform and our customers have been accelerating investments in this area over the last few years,” said Nathan Pieri, Chief Product Officer of Amber Road. “By expanding the number of FTAs available on our platform, we can increase the percent of a supply base that qualifies for the duty savings benefit these special trade programs afford.”
The Amber Road GTM platform allows a multi-national company to manage all their FTAs under one centralized and common process. And since the Trade Agreement module is tightly coupled with the Export and Import modules, the “reduction of duty” benefits are seamlessly integrated with the global supply chain execution processes. With the recent addition of 89 new FTAs into its global trade content database, Amber Road has become the global leader in this area.
Jim Preuninger, CEO of Amber Road, comments, “We believe Amber Road supports more FTAs than any other vendor by a wide margin. Amber Road has witnessed exceptional demand for its FTA solutions from both new and existing customers over the past four quarters.”
Read the entire press release here.