EU & Canada Confirm: “We Are Ready To Apply CETA This Autumn!”

Posted by Arne Mielken on Wed, Jul, 26 2017 @ 12:00 PM

On July 8, 2017, at the G20 meeting in Hamburg, Germany, the EU and Canada officially announced the provisional application of the Comprehensive Economic and Trade Agreement (CETA) - the modern-day Free Trade Agreement (FTA) between the EU and Canada. The date of implementation has been officially set for September 21, 2017. Canadian Prime Minister Justin Trudeau said that "98 percent of the CETA agreement will take effect on 21 September."

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Topics: Duty Management, Free Trade Agreements

EU and Japan Moving Forward with Historic Free Trade Agreement

Posted by Nick Boland on Tue, Jul, 25 2017 @ 1:56 PM

After four and a half years of negotiation, it is looking increasingly likely that the EU-Japan Economic Partnership Agreement (EPA) will be concluded toward the end of 2017. Successful meetings in April and July, backed by strong supporting messages from both sides, means that this landmark deal will create an agreement that aligns two economies accounting for more than a third of the world’s Gross Domestic Product (GDP).

To add some scale to what that translates into, there are about 74,000 EU companies that export to Japan (source: eu.europa.com) paying in excess of €1 billion per year in tariffs, along with some 600,000 jobs supported by EU trade with Japan.

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Topics: Duty Management, Free Trade Agreements

Amber Road Supports New Free Trade Agreements

Posted by Gary M. Barraco on Wed, Jul, 5 2017 @ 12:30 PM

Globalization and protectionism is driving a new business paradigm for supply chains – a vigorous international debate on the parameters of free or preferential trade. From a strategic and global perspective, Brexit could be the first wave of de-globalization and growing populism in other nations. But President Trump’s driven agenda continues to cause turbulence worldwide as other countries look to strike bilateral trade agreements rather than stay in the previous regional ones.

With approximately 500 regional and preferential trade agreements now in place across the globe, companies can benefit from the lowered duty rates and trade barriers that come with these free trade agreements (FTAs). But managed ineffectively they also pose huge compliance risks. FTA information needs to be constantly updated to ensure accurate origin determination for making a claim.

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Topics: Trade Regulatory Content, Free Trade Agreements

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, Free Trade Agreements

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, Free 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, Free 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, Free 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, Free Trade Agreements

Polaris Conquers Future Challenges in Digitization, Globalization, and Scalability

Posted by Kelsey Barker on Wed, Jan, 25 2017 @ 12:09 PM

Looking to 2017 and beyond, the stakes for supply chain leaders continue to rise. Executives at the SCM World Live Americas conference next week will learn how Polaris is automating its global supply chain activity to address current and future challenges in digitization, globalization, and scalability:

  • Eliminated or mitigated trade flow gaps
  • Ensured quality trade procedures
  • Optimized internal and third-party resource utilization

Using digital supply chain touch points and a new resource structure, Polaris has successfully created a strong foundation built for scale and flexibility. 

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Topics: Import Management, Free Trade Agreements, Global Supply Chain

Santa Replaces Reindeer-Based Visibility System to Tackle Cross-Border elf-Commerce

Posted by Kelsey Barker on Thu, Dec, 22 2016 @ 4:27 PM

The original pioneer in cross-border elf-Commerce, North Pole Industries (NPI) has had to adapt with the times just like any other retailer. The key, Santa says, is investing in technology and making process changes in advance of the holiday season.

“We needed to brace ourselves against disrupters that could send our supply chain into a tailspin the night before Christmas,” says Santa, Chief Executive Elf of NPI.

To that end, NPI has worked to automate and track nearly all of its global trade operations with Amber Road’s Trade Automation solution suite. The first step was the most crucial in a deadline-based industry: automating NPI’s trade compliance processes to ensure that Santa’s sleigh doesn’t get caught up in Customs on its way to chimneys around the world. Amber Road’s Restricted Party Screening tool, backed up by its extensive Global Knowledge® database, guarantees that only good little girls and boys are on the approved toy recipients list.

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Topics: Retail, Apparel, Supplier Management, Supply Chain Visibility, Free Trade Agreements, Global Supply Chain, Trade Compliance