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.
![[Facebook]](http://www.globaltradesuccess.org/wp-content/plugins/bookmarkify/facebook.png)
![[Google]](http://www.globaltradesuccess.org/wp-content/plugins/bookmarkify/google.png)
![[LinkedIn]](http://www.globaltradesuccess.org/wp-content/plugins/bookmarkify/linkedin.png)
![[Twitter]](http://www.globaltradesuccess.org/wp-content/plugins/bookmarkify/twitter.png)
![[Email]](http://www.globaltradesuccess.org/wp-content/plugins/bookmarkify/email.png)
Doha Round Still Unresolved
On Wednesday, 153 nations met to discuss the Doha Round, but left with little to no progress, states the Wall Street Journal. The Doha Round plan was created with a mission of opening rich-country markets to import food from the developing world. After eight years, little development has been made. Furthermore, issues such as the drop in trade and the hot topic of protectionism has reduced the enthusiasm to create a plan that everyone agrees with.
What is on the table doesn’t deliver “meaningful market access in the part of the world that will be growing and driving GDP growth over the next few years,” U.S. Trade Representative Ron Kirk said, in a reference to countries like China, India and Brazil.
Not all countries are statisified with what is on the table so far. Some believe that the wealther countries will still profit more than the developing countries.
But, as Mr. Kirk puts it best:
The Doha Round “is like a cricket match. You don’t know the score and it takes a long time, but it does end, and there is a winner.”
To continue reading, click here.
NAFTA Trade Fell Each Month This Year
The Journal of Commerce reports the twelfth month of decline in trade for the NAFTA countries. U.S trade with Mexico and Canada dropped to $57.3 billion, 20 percent lower than in 2008.
More than 85 percent of trade between Mexico and Canada is through surface transportation. According to the article, it is believed 2010 will be in improvement as signs show a turnaround in trade and the value of surface trade has a 5 perfect raise.
To read the full article, 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.
Who Are the Biggest Trade Complainers?
The Economist received published an article with statistics about which country files the most complaints to the World Trade Organization(WTO)…and who receives the most trade complaints. Here’s what they found.
The United States and the European Community(a.k.a. European Union) are number one and number two for both filing the most complaints and receiving the most complaints. Rounding out the top five for the World Trade Organization members, who file the most compliants are:
5. Mexico
4. Brazil
3. Canada
2. European Community
1. United States
Thoses members, who are subject to the most trade complaints are:
5. Argentina
4. China
3. India
2. European Community
1. United States
Many of these disputes vary such as export curbs to the latest import ban of seal products from Canada. According to the article, more of the wealther nations tend to file complaints to the WTO dispute settlement body compared to other members.
To view the full lists, click here.
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.”
New European Trade Measure Not Caused by Protectionism
The New York Times reports that European exporters has been confronted with more than 223 new and restrictive trade measures since the beginning of the trade crisis last year, but has avoided protectionism. A new report out last Friday introduces the new trade measures issues by EU Commission and its trading partners.
“Proliferation of the kind of beggar-thy-neighbor protectionist policies of the 1930s has been prevented,” adds the document, which was reviewed by the International Herald Tribune. “The current multilaterally based world trade system seems to have passed one of the most serious stress tests in its entire history.”
The report concludes that the 18 percent decrease in trade since 2008 is due to financial crisis rather than protectionism.
Wanna keep up-to-date with all the latest trade measures?
Then, register for a FREE Management Dynamics’ GTM Newsletter that summerizes global trade content on a weekly basis.
To register: http://www.managementdynamics.com/gtm/
To read the full article, click here.
CTDI Reduces Corporate Risk with Management Dynamics’ RPS On-Demand Solution
Technology Services Company Improves Trade Compliance with Comprehensive Screening of Restricted Parties
EAST RUTHERFORD, NJ, November 5, 2009 – Management Dynamics, a leading provider of Global Trade Management (GTM) solutions, today announced that Communications Test Design, Inc (CTDI), a full service global engineering, repair and logistics company, implemented its RPS On-Demand solution, an advanced risk management solution that screens individuals and businesses to identify prohibited transactions based upon over 90 restricted party lists. Since automating restricted party screening, CTDI has significantly reduced corporate risk and improved compliance with global trade and security regulations while minimizing time and resources required for screening.
Providing repair and logistics services for major Telecom and Cable service providers and OEMs, CTDI also provides the service of screening shipments for many of its customers. CTDI needed to streamline its screening process across multiple order management systems and 25 locations. The company selected Management Dynamics’ RPS On-Demand solution for its functionality, ease of use, and ability to centralize its compliance with multi-org and team-based workflow to enable its global branches to easily manage their own customer shipments.
“We needed to prevent any illegal transactions with restricted entities or trade parties and avoid potential fines and penalties for CTDI and its telecom customers. We had previously relied on a fragmented, incomplete process,” said Greg Pugh, Global Compliance Manager, CTDI. “Management Dynamics provided the best value and came highly recommended by many authorities in the trade industry. It was also very important that the screening did not create a cumbersome distraction during high volume shipping processes. Since using the RPS On-Demand solution, we have significantly reduced our corporate risk, liability and exposure to prohibited transactions.”
Available on a flexible, on-demand architecture, Management Dynamics’ RPS On-Demand solution addressed CTDI’s needs with a secure, comprehensive method to automate screening of its customers, vendors, and other trading partners against all restricted party lists from governmental institutions worldwide. With improved screening algorithms based on computational linguistics, RPS On-Demand delivers at least a 30 percent improvement in screening accuracy with a 70 percent reduction in false positives over traditional methods. The Web-based solution integrates with any enterprise system and can be quickly and cost-effectively implemented.
“Today, exporters are held to a higher level of accountability to meet government mandates than ever before,” said Jim Preuninger, CEO of Management Dynamics. “CTDI uses our RPS On-Demand solution to centralize and streamline its compliance process to improve productivity and effectively manage supply chain risk.”
About CTDI
A premier Telecommunications service company headquartered in West Chester, PA., CTDI has provided groundbreaking maintenance and product service solutions to the global telecommunications industry since 1975. Today, CTDI offers the most comprehensive Service Portfolio in the industry that includes: Wireline Repair & Logistics, Wireless Repair & Logistics, Engineering and Installation services, Global Supply Chain solutions and Product Engineering and Manufacturing. Today, CTDI services Original Equipment Manufacturers (OEM) and Carriers with 42 international strategic repair and logistics locations supported by an experienced team of over 4,500 telecommunications professionals. For more information, visit http://www.ctdi.com/.
About Management Dynamics, Inc.
Management Dynamics is a leading provider of global trade management solutions that improve the performance of global supply chains for importers, exporters, logistics service providers, and carriers. The company’s solutions synchronize the flow of information among trading partners, optimize supply chain execution decisions, and streamline import and export processes to ensure regulatory compliance and minimize cost and risk involved in cross-border transactions. Management Dynamics’ time-proven 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.
For more information, please visit http://www.managementdynamics.com/html/press/mdi_press_ctdi.shtml
#
|
|
Chinese-Made Products to Be Made Safe
According to Industry Week, China and the United States are serious about combining efforts to reduce the number of issues with the safety of Chinese-made toys, drywall and other consumer goods that have made a number of people sick or injured.
China’s reputation of corruption in the manufacturing industry in recent years has pushed the General Administration of Quality Supervision, Inspection and Quarantine (AQSIQ) in China and the U.S. Consumer Product Safety Commission (CPSC) to work together to solve the problem.
“A systematic improvement of practices in the supply and distribution chain will be the most effective means of enhancing product safety,” the agencies said in a joint statement. The watchdogs will focus on improving the safety of toys, all-terrain vehicles, electrical products, lighters and fireworks, the statement said.
President Obama will have his first visit to China since taking office in three weeks. Issues on various trade issues will be discussed.
To view the whole article, click here.
The Recession May Be A Thing in the Past
According to the Journal of Commerce, the economy has seen a 3.5 percent increase in the third quarter, making experts believe the recession may soon be over. Economists feel the government stimulus plan helped consumers spend, particularly in the auto industry.
Imports of goods grew 20 percent after falling 16.5 percent in the previous quarter while exports of goods expanded 21.4 percent compared with a 6.3 percent decline in the second quarter.
Looking forward to see how the fourth quarter ends.