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.
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Management Dynamics Releases Trade Wizards 10.0 Web-based Research Tool
Improves Compliance with International Trade Regulations and Advisories
EAST RUTHERFORD, NJ, November 18, 2009 — Management Dynamics, a leading provider of Global Trade Management solutions, today announced the release of Trade Wizards 10.0, a Web-based portal to trade content from 122 countries that facilitates the research of complex trade questions. The new release makes it easier for companies to classify products, calculate landed costs and perform document determination at the Harmonized Schedule (HS) level. In addition, a new user experience allows users to manage their searches and ultimately find information faster.
“Trade Wizards is an invaluable tool for our global trade team and we use it daily to quickly and accurately classify our products, determine applicable import or export controls, or to answer a question from the business on total landed cost,” said Glenda Welch, Director of Corporate Logistics and Transportation, Belkin International. “The latest version of Trade Wizards is much easier to use, allowing us to conduct our research more efficiently and to fully tap into Management Dynamics’ trade content library including the new HS-based document templates.”
Management Dynamics’ Trade Wizards 10.0 enables the user to make quick, interactive queries using a standard Web browser to calculate landed cost, screen for restricted trade parties, search for HS and Export Control Number (ECN) classifications, identify applicable regulatory controls, and determine trade documents. Management Dynamics maintains the trade content needed to answers these questions for 122 countries or approximately 99 percent of the world market. What used to require many hours to manually research trade rules and regulations can be achieved in minutes using Trade Wizards 10.0.
New key features available on Trade Wizards 10.0 include:
- New Classification Workflow – Perform complex searches that include the tariff number and either a legal or common term to quickly find relevant classifications. Also, searches may be defined with complete Boolean logic and search results are displayed in a tree format to simplify the navigation to a classification.
- Landed Cost Calculator Scenarios – Build landed cost scenarios with multiple origin countries to quickly identify the minimum landed costs with respect to product invoice, duty, VAT, excise, other governmental charges, transportation and insurance.
- Restricted Party Screening – Screen with an improved screening engine and access to Management Dynamics’ coverage of 94 restricted party lists offering the highest level of compliance with the lowest rate of false positives.
- Document Determination – Determine the documents required for exporting and importing based on country of export, country of import, and HS number. Results returned include hundreds of documents required for exports, imports, preferential agreements and product specific documents based on the HS number provided.
Trade Wizards 10.0 functionality is available in a highly intuitive user experience with online help that can be used immediately with no user training.
“As businesses continue to globalize at a fast pace, it is important for supply chain teams to have the resources they need to keep up with the ever-changing trade regulations and supporting content,” said Nathan Pieri, SVP Marketing & Product Management, Management Dynamics, Inc. “The latest Trade Wizards 10.0 release takes a big step forward on usability and ultimately makes it easier for users to accurately answer their toughest trade questions.”
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
Office of U.S. Trade Representatives to Focus on Small to Mid-Size Business
According to American Shipper magazine, The U.S. Trade Representatives (USTR) have asked the International Trade Commission this week to determine the size of small to mid-sized enterprises (SME) in export throughout the U.S.
“USTR is sharpening its focus on small- and medium-sized American businesses to craft new trade policies and enforce existing ones in ways that will help these firms grow exports around the world, and grow jobs here at home,” said U.S. Trade Representative Ron Kirk in a statement. “American companies of all sizes must export their goods and services to get our economy growing again.”
Management Dynamics offers a solution to SME exporters, who are interested in expanding its exports and to ensure compliance. Export On-Demand is a complete trade automation solution that helps U.S. SMEs establish an Export Management System, automate many aspects of compliance and demonstrate reasonable care.
For more information on Export On-Demand, click here.
For more information about the article, click here.
Calling All Exporters: We Need Your Help!
We would like to invite you to participate in an industry survey on companies’ uses of an Export Management System. With the results, we hope to advance industry knowledge of best practices and better understand export compliance operations and processes across a wide spectrum of organizations.
Take the 2009 Export Compliance Survey
Your answers will be kept strictly confidential and will be reported anonymously.
The findings of the survey will be shared during an upcoming webinar on ‘Key Strategies for Establishing an Export Management System’ on October 13, 2009.
Management Dynamics is a leading provider of global trade management solutions that improve the performance of global supply chain for importers, exporters, logistics service providers, and carriers. Our solutions are used by more than 13,000 global users at some of the world’s most successful 3PLs, carriers, manufacturers, retailers, and high technology companies.
Survey Reveals China Plans to Strengthen Exports
World Trade Magazine recently published the results of a survey that asked Chinese toy and game suppliers its plan to strengthen its export markets within the next 12 months.
”Even amid the major economic slowdown in the U.S. and EU markets, these
remain the top export markets for China’s toy and game manufacturers,” said
report publisher, Spenser Au.
Many of the suppliers are opting to use more expensive raw materials to make the toys and games for higher quality, but have to pay higher cost to remain compliant. The biggest challenges for the suppliers are:
-47 percent cited stricter overseas compliance standards;
-19 percent said price competition; and
– 19 percent cited the cost of raw materials.
More than half reported they plan to focus more on the EU market rather than the U.S. Similarly, suppliers are also branching out to Africa, the Middle East and Eastern Europe to help boost export.
”Suppliers are upgrading product lines with the expectation that the
market may recover in the next 12 months,” Au said. “More than half of
respondents predicted exports to grow in the year ahead.
The survey was conducted by China Sourcing Reports.
To read more findings from the survey, please click here.
Exporters Happy About Export Controls Review
According to the Journal of Commerce, U.S. exporters are pleased with the White House’s decision to launch a review on export controls to help establish a new streamlined system and update to modern technology.
“The economic and security challenges our country faces continue to grow more complex, and we must have a modern export control system that protects U.S. technology while allowing us to cooperate and trade with our close allies and partners,” said Marion Blakey, president of the Aerospace Industries Association.
The House of Foreign Affairs Committee will review potential changes and hopes to make a decision by next year.
To continue reading, click here.
Small to Mid-sized Companies Push Forward in Export Despite of Recession
According to American Shipper magazine, many government officials believe the small to mid-sized companies will be in the forefront of the United States’ economic recovery, particularly with several federal programs to assist their export efforts.
“More than a quarter of a million U.S. firms export goods. Ninety-seven percent of those firms are small- and medium-sized businesses who particularly need our help accessing global markets,” said U.S. Trade Representative Ron Kirk in a May 18 speech to the U.S. Chamber of Commerce about the Obama administration’s trade agenda.
The Small Business Exporters Association (SBEA) has dedicated its programs to help small and mid-sized businesses succeed in exporting. James Morrison, president of SBEA believes it’s easier in a recession for small businesses to grow as more companies are reducing costs and purchasing at a lower rate.
“Small businesses are often more agile than larger ones, and can do well based on small sales,” said James Morrison in an interview. “There are currently a lot more overseas buyers at the $200,000 and $500,000 level than at $2 million or more.”
Once the small to mid-size company exports grows, it’s recommended to purchase global trade management solutions to ensure compliance at each stage of the export. Managment Dynamics offers a great solution that is cost effective and is flexible and on-demand. Export On-Demand can be quickly deployed and configured for an small to mid-sized exporter.
To learn more about Export On-Demand, click here.
To read the full article by American Shipper magazine, click here.
Export On-Demand Offers Savings for Companies in Compliance
In May, Journal of Commerce wrote an article, Compliance Applies Growth about the importance of compliance and HS classification. Many Global Trade Managment companies have seen a growth in business in this recession.
“The growth is the result of the large cutbacks companies are going through to keep financially above water,” says Wayne Slossbrg, vice president of Sales at QuestaWeb.
Nathan Pieri of Management Dynamics spoke of the importance of developing trade compliance products geared towards the unique needs of a small business. Management Dynamics released its Web-based Export On-Demand compliance software solution in April with a focus to small to mid-size companies.
“Companies of all sizes need compliance,” Nathan Pieri says. “All companies play by the same rules. We need to make it easy for them.”
Many companies are intimidated by the complexities and costs of trade compliance software. Management Dynamics’ new product provides only those capabilities it believes small companies need. Export On-Demand can be adapted to each companiy’s business processes and its level of technological sopistication.
Learn more about Management Dynamics’ Export On-Demand, click to view its brochure.
To read the full article, view Journal of Commerce’s digital edition.