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
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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!
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.
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.
Wheat Production Highest in Two Years
For all of us carb-lovers, this is the year to devour.
The weather is key to the recent drop in wheat prices, the lowest in over two years. The U.S, China and Australia have all seen favorable weather causing a boost in production.
Wheat global output will exceed demand by 17.6 million tons in 2009-2010 as the four largest exporters, U.S., Canada, Russia and Australia, are expected to expand production.
Wheat demand fell by 38 percent in the past year as the economy sank into a recession. Farmers expanded in its importing and exporting curving global trade. But the high supply will allow the price to drop in wheat, which will be beneficial as the economy begins to recover and consumers are more willing to spend their money on wheat and other grains.
Want more info, 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 – Import Bank Expands to Support Small to Mid-Sized Businesses
Leaders will have greater flexibility to serve the needs of small to mid-sized companies under the Export-Import Bank of the United States Super Delegated Authority and Fast Track programs announced in its press release on Monday, June 8th.
The bank combined the two programs aggregate limit allowing leaders to increase its overall limit to $450 million working capitol loans. Under the Super Delegated Authority program, leaders can guarantee working capitol loans to U.S. exporters without prior approval from the bank. In the Fast Track program, approval from the Export-Import Bank is needed for transactions more than $25 million per borrower. With this new flexibility small to mid-sized companies will see positive change in the economic recovery. The press release states:
Ex-Im Bank’s working capital loan guarantees help small and medium-sized U.S. companies build inventory to fill foreign orders. Pre-export costs can include purchase of raw materials or finished products, export production, and coverage of standby letters of credit serving as bid bonds, performance bonds, or advance payment guarantees.
“Ex-Im Bank looks forward to using this new feature to help our lending partners increase support of U.S. exports by small and medium-sized companies,” said Ex-Im Bank Chairman and President Fred P. Hochberg. “Enhancing financing flexibility is important at a time when credit is tightening around the world.”
To read the full press release, click here.