Amber Road is “En Marche!” with French Taxes

Posted by Arne Mielken on Mon, Jun, 19 2017 @ 12:00 PM

On May 14, 2017, the French Republic elected the youngest president of its history, Emmanuel Macron, who promised to reform the country and better prepare it for 21st century challenges. This is a big deal for the global trading community and the EU because France has the world's sixth largest economy by IMF estimates and the tenth largest economy by Purchasing Power Parity figures. It is the third largest economy in Europe.

In the wake of this historic election, there is one particular French trade aspect to consider and whether it’s ripe for reform: the peculiar French indirect taxes. Sure, France may have done away with their king a while ago, but some say France is still the King of Indirect Taxes!

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Topics: Landed Cost Calculation, Duty Management

How Automation Makes Trade with India Better

Posted by Arne Mielken on Fri, Jun, 16 2017 @ 9:00 AM

Free trade agreements (FTAs) help countries export more outside their borders, gain better access to raw materials and vital components, and compete more successfully in the global marketplace. For India and European Union member states, the EU-India FTA faces a tough uphill battle. However, once that battle is overcome, the FTA will increase trade and opportunity between the two powerful regions.

India is an important sales market for Europe; with a population of 1.3 billion it is the fastest growing economy in the world and a key supplier of a wide range of goods and services for many EU partners.  Germany, ahead of India’s Prime Minister’s visit to Europe in late May, made a strong pitch for resuming negotiations for the EU-India FTA. Germany is one of many countries that India terminated its bilateral investment protection treaties (BITs) with, following the country’s release of a new BIT model in December 2015.

If the new FTA is finalized, it will help both sides boost trade, create jobs, increase economic growth, and initiate new business opportunities. Companies need to prepare for the complex compliance processes that an FTA will bring when moving goods across these borders.

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Topics: Duty Management, Foreign-Trade Zones, Trade Agreements

Duty Drawback Success Story: A $1.3 Million Return on Investment

Posted by Suzanne Richer on Wed, Jun, 14 2017 @ 1:13 PM

Duty Drawback represents one of Customs’ most long-standing benefits to firms, as it offers companies a refund of up to 99% of taxes, duties and fees paid when imported merchandise is exported or destroyed within certain timeframes. The concept is simple – match your import entry documents with the corresponding export docs, file for expedited payment processing, and voila! Money will flow into your bank account.

As simple as it seems, drawback regulations are among the most complicated, and it is estimated that $2.8 billion dollars is left unclaimed by companies eligible for refund. Enter Amber Road’s Global Trade Academy – after attending the unique 3-day Duty Drawback Certificate Program, attendees have succeeded in securing incredible refunds for their firms.

One great success story is that of Tammy Anderson, Logistics Supervisor with an electronics firm, who in less than one year was able to secure $1.3 million dollars from her drawback program.  

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Topics: Import Management, Duty Management, Export Management, Import Compliance, Export Customs Filing

The China Factor: Global Trade’s Big Hub

Posted by Gary M. Barraco on Mon, May, 22 2017 @ 10:45 AM

Business often comes down to numbers, with bottom lines, profitability, growth and more, all part of the ongoing calculation of making a company succeed.  Unfortunately, the recent upheavals in global trade have made these calculations much more difficult. Unpredictability has become the new normal, with rising protectionism, saber-rattling from global leaders, and slow economic growth hindering financial projections. One factor that must be part of the equation for companies doing business globally is China.

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Topics: China Trade Management, Duty Management, Foreign-Trade Zones

Upcoming Webinar: Taming The Dragon

Posted by Chester Yavari on Mon, Apr, 24 2017 @ 11:01 AM

China is widely regarded as one of the most powerful economies and countries in the world, and with this being said China’s trade relationships face an uncertain time with the United States, forcing China to expand its relationship with the European Union. With these growing uncertainties and The New Silk Road on the horizon, navigating this dynamic market is more important than ever. However, paving your path through this market as importers and exporters alike is no easy task- implementing the proper policies and a China trade management solution is paramount to your company’s success.

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Topics: China Trade Management, Duty Management, Foreign-Trade Zones

The Noodle Bowl of Bilateral Trade in Asia

Posted by Julia Gorman on Tue, Mar, 14 2017 @ 2:00 PM

In the early 2000’s, bilateral trade agreements started popping up in Asia at a feverish pace. As opposed to multilateral trade agreements, bilateral agreements are negotiated between two individual countries. Although the removal of additional parties alleviates the process of negotiating terms and conditions, this is merely a short-term benefit. The quick fix of bilateral agreements ultimately results in an increased amount of free trade agreements as a means of compensating for unaccounted parties.

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Topics: China Trade Management, Duty Management

How to Maintain Trade Compliance in a Changing Environment

Posted by Anthony Hardenburgh on Tue, Feb, 28 2017 @ 9:45 AM

If 2016 taught us anything, it’s that the global supply chain can’t expect a continuation of the status quo, and even the surest predictions can be wrong. With last year’s tumultuous end in the rear-view mirror, global companies powering ahead into 2017 must be ready for regulatory change – both the predicted and unexpected.

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Topics: Duty Management, Import Compliance, Export Compliance, Trade Agreements

What Importers and Exporters Need to Know About the WTO Trade Facilitation Agreement (TFA)

Posted by Jonathan Dicks on Thu, Feb, 23 2017 @ 3:45 PM

Billed as a “major milestone for the global trading system”, the World Trade Organization (WTO) Trade Facilitation Agreement (TFA) entered into force on February 22, 2017. It is the first multilateral agreement concluded since the creation of the multi-country trade-focused body in 1995. The TFA negotiations concluded during the Bali Ministerial Conference in 2013, but finally went into force yesterday after two-thirds of its members ratified the agreement.

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Topics: Duty Management, Global Trade Management, Trade Agreements

EU Parliament Advances CETA

Posted by Arne Mielken on Fri, Feb, 17 2017 @ 3:00 PM

Amber Road has previously reported extensively on the Comprehensive Economic and
 Trade Agreement
(CETA). Under negotiation for almost five-and-a-half years, CETA
was approved in a close vote by the Members of the European Parliament (MEPs) on 15 February 2017. It was signed by both the European Union and Canadian representatives in October 2016, and first received a positive recommendation from the EU International Trade Committee in the European Parliament (EP) on 24 January 2017.

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Topics: Duty Management, Foreign-Trade Zones, Trade Agreements

A Day of Action Sets the Tone for Future Trade

Posted by Gary M. Barraco on Thu, Jan, 26 2017 @ 9:45 AM

On his first full weekday in office, President Donald Trump swiftly abandoned the Trans-Pacific Partnership (TPP) with an executive order, standing by his Inauguration speech that “now arrives the hour of action." President Trump also signed an executive order to renegotiate the North American Free Trade Agreement (NAFTA). The orders fulfill the pledge Trump made in mid-November to immediately make dramatic changes and put “America first” on his first day in office.

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Topics: Duty Management, Foreign-Trade Zones, Trade Agreements