Upcoming Webinar: Building an Export Management Program
American Shipper is hosting an upcoming webinar, “Building an Export Management and Compliance Program.” Sponsored by Management Dynamics (in partnership with BPE), the webinar will take place on July 28th at 2 pm ET. The hour-long round table discussion will include the following expert panelists:
- Beth Peterson, President of BPE
- Joe Burks, Director of Trade Compliance for Cooper Industries
- Nathan Pieri, VP of Product Development and Marketing for Management Dynamics
These experts will discuss best practices for developing your company’s Export Management and Compliance Programs, including:
- Strategic value of your EMCP
- The core elements of an effective EMCP
- The steps required to build an EMCP
- Sharing your strategy with your C-level superiors
Learn how your company can implement processes and systems that ensure compliance with the Export Administration Regulations (EAR). Best of all – it’s FREE! Sign up today.
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Management Dynamics Releases End-Use Manager to Help Companies Reduce Trade Compliance Risks
New On-Demand Solution Enables Cross-functional Teams to Create and Manage End-Use Statements for Customers, Vendors and Employees
Management Dynamics, a leading provider of Global Trade Management solutions, today announced the release of End-Use Manager, an on-demand solution that generates end-use surveys for parties involved in any cross-border transaction. The new solution allows a trade compliance team to comprehensively survey and collect end-use statements from customers, suppliers and employees, establishing a standardized process for managing and ensuring compliance with international trade regulations.
“Companies that manufacture and export licensable goods must ensure that their customer and the intended end-use are approved and in compliance with export regulations. However, today this is largely a manual process that is difficult to administer, especially across a global enterprise,” said Adrienne Braumiller, Partner, Braumiller Schulz LLP. “Management Dynamics’ End-Use Manager provides companies with the tools necessary to ensure that their shipments are delivered to the approved trade party and destined for friendly end-use.”
End-Use Manager can be flexibly deployed as a Web-based portal across any global enterprise and configured to meet the specific requirements of different business units. Surveys can be developed by business unit, transaction type, origin country and destination country, and populated with a pre-configured list of questions. In addition, all parties to the transaction are screened against the major sanctioned party lists.
Management Dynamics’ End-Use Manager offers the following key capabilities for companies to simplify trade compliance around product use and related professional services:
- Enterprise Deployment – Implement an end-use process by geography, business unit, or product family with a flexible multi-organization deployment model and manage users with role-based security.
- Survey Configuration – Develop a comprehensive repository of questions and manage assignment rules to dynamically assemble a complete survey for end-use statements by customers, vendors and employees.
- Restricted Party & Critical Country Screening – Automatically screen each party to the transaction against a comprehensive list of restricted parties and embargoed countries.
- Generate & Distribute End Use Statements – Dynamically generate end-use statements based on all associated questions as well as the results of Critical Country and Restricted Party Screening in a PDF format for easy distribution via email.
- Review Audit Trail – Audit each transaction with complete visibility to the user and all survey questions and answers.
“Today many companies rely on an inconsistent and, often inaccurate, manual process to administer end-use surveys to determine if the intended use of their shipped goods is in compliance with export controls,” said Nathan Pieri, SVP Marketing & Product Management, Management Dynamics, Inc. “Our new End-Use Manager product makes it possible to manage the process centrally and distribute via a simple web-based solution for employees that must interact with customers, suppliers and contractors.”
House Votes Extends Trade Programs
On Monday, the House voted to extend two trade programs for one more year, according to the Journal of Commerce. The General System of Preferences and the Andean Trade Preference Act will expire December 31st and have been enacted for several years.
The General System of Preferences allows developing nations to export selected goods to the United States duty-free and the Andean Trade Preference Act gives similar benefits for exporters in Ecuador, Colombia, and Peru in exchange for cooperation in counter-narcotics efforts.
“As Congress and the administration increasingly shift their attention to job creation, we encourage them to remember the important role trade can play in boosting the U.S. economy through exports,” said Chuck Dittrich, vice president for regional trade initiatives.
Extending the programs for one more year will give the U.S. government opportunity to analyze all preference programs available.
To continue reading, click here.
A New Free Trade Agreement Between Peru and European Countries
The New York Times reports that Peru has recently signed a Free Trade Agreement with four European countries, Switzerland, Norway, Iceland and Liechtenstein.
Compared to last year, Peruvian imports and exports are more than a billion U.S. dollars in trade with these four countries, and Peruvian exports has risen by 18 percent .
The new trade agreement will benefit the fishing and industry sector in Peru.
To read more, click here.
Obama and Hu Jintao to Talk Trade Among Topics to Discuss
President Obama landed in China on Sunday to discuss some much needed topics with President Hu Jintao, according to Time magazine. One topic is trade. In recent months, trade issues has been heated between the two nations as both have thrown around the idea that each nation is participating in protectionism since the recession began.
“They’re working through a lot of scattered issues, but they are working through the WTO,” says James McGregor, the former chairman of the American Chamber of Commerce in China. “In the old days, every trade issue would become a very public and unstructured argument.”
China and the U.S. trade around $400 billion in goods each year. Many trade experts were concerned tension may get too high, making resolution difficult. But, U.S. officials dismiss that allegation, saying that the affected goods are only a small part of the total trade exchange.
Wanna read more: http://www.time.com/time/world/article/0,8599,1939536,00.html?xid=rss-topstories
Germany is Heading Out of the Recession
Germany has seen positive economic growth as exports has increased and the government’s stimulus package encouraged corporate spending. Exports and investment in construction and equipment has been the main drivers of its economics growth for Q3.
“The bad times are over but the good times have not started yet,” said Carsten Brzeski, senior economist at ING in Brussels. “The export-driven recovery is all well and good but in order to shift into a higher gear, the German economy needs domestic demand.”
Some fear a possible export slow down may happen as the Euro continues to gain strength. Competition is stronger than ever as exchange rates are more important and global exports is still recovering from the recession. But, many others are still optimistic.
“Orders and sentiment indicators suggest that the economy will continue to develop favorably in the months ahead,” said Alexander Koch, chief German economist at UniCredit in Munich. “Growth will slow somewhat, but the recovery remains solid.”
Wanna keep reading? Click here.
*all information used in this blog was from a Bloomberg article.
Webinar: Key Strategies for Establishing an Export Management System
This webinar will demonstrate how to improve your export management program and automate many aspects of compliance including maintaining reference data, screening trade parties, producing documentation and maintaining audit trails – all without having to hire additional staff.
The presenters will address key findings from an industry survey on how companies manage export compliance and highlight a number of best practices for your company to consider when implementing an export management system.
To view: http://www.managementdynamics.com/html/rl_wc_wtm-ec.html
Hosted by World Trade Magazine in partnership with Management Dynamics, Inc and Braumiller Schulz LLP
China – Leader in Global Trade
Anyone surprised by this new report? According to the New York Times, the recession has made companies more conservative on price. So now, these companies are looking to Chinese suppliers, who have reduced prices, making it possible to grab the majority of the market share. Companies around the world are switching to China to cut costs and save money, making it easier for Chinese suppliers to gain leads in old markets and obtain new ones. China has surpassed Germany on exports this year and has become America’s number one importer (formerly Canada).
How can China make such a leap into the global trade leader? According the New York Times, Chinese manufacturers cut wages, reduce production costs and hire migrant workers.
“China has a huge advantage,” says Nicholas R. Lardy, an economist at the Peterson Institute for International Economics in Washington. “They can adjust to market changes very rapidly. They have flexibility in their labor markets. And as consumers trade down the quality ladder, China can benefit.”
Recently, the European Commission is requesting an investigation into antidumping from Chinese exports and the International Montary Fund wants China to re-balance its economy by raising the value of its currency to match those of the Euro or the U.S. dollar.
Will China continue to hold the number one position in export?
“China is going to get stronger,” Mr. Tao at Credit Suisse says. “Its competitors are getting weaker in the downturn. And the Chinese state has helped bail out some industries, like the auto industry; so in the future some new industries may emerge as exporters.”
To read the full article, click here.
Defeating the Deficit, One Export at a Time
Even as oil prices rise, people are still worried about the state of the economy, but things are beginning to look up. Today the Wall Street Journal posted an article entitled, “U.S. Trade Gap Shrinks as Exports Rise.” This short but positive article by Tom Barkley states that the United States trade deficit shrank for the first time in months this past August.
This narrowing of the trade gap is mostly due to the increase in exports, which are at the peak for the year. Exports rose to $128.22 billion, the highest level since they were $132.92 billion last December. Imports also fell for the first time since May, dropping by about $1,000,000,000. This is a definite Global Trade Success!
Trade Export on the Rise in Asia?
Trade export may be on the rise, according to Forbes. South Korea reported a more slowed decreased than in the last eleven months. China and the United States have seen an increase in demand, which experts believe that global trade may be on the rebound.
‘Exports are on a clear recovery path and they will post positive growth in the fourth quarter helped by the base effect. It is hard to find a major obstacle to recovery,’ said Kim Jae-eun, an economist at Hyundai Securities.
Officials have cautioned that South Korean exporters, though their successful push to diversify markets helped leverage them away from the worst of the global economic downturn, but could very quickly lose competitiveness if they rely too much on a weak currency rather than in manufacturing costs.
To read more, click here.