Inside highlights the following articles and more...
• Foreign-Trade Zones Boost U.S. Exports and Re-Shoring
• Shortage of bonded truckers to carry FTZ goods
• U.S. encouraged by progress with Japan on Pacific trade pact, but ‘tough’ issues remain
• EU Member States Plead With New Commission Not To ‘Jettison’ ISDS
• REGULATORY UPDATE
Read more: NAFTZ’s November 2014 Zone Report
In September 2013, the Shanghai Free Trade Zone (FTZ) was launched with the high hopes of relaxing the controls of foreign trade and investments in the Shanghai markets.
Read more: Modern Arbitration Rules Implemented in Shanghai Foreign Trade Zone
In September 2014, it was announced that Stefan M. Selig, the Under Secretary of Commerce for International Trade along with Penny Pritzker, the Secretary of Commerce, will be doing the first President's Export Council (PEC) for the Obama administration.
Read more: Fact Finding Mission Will Be Done By the President's Export Council
When you are looking for an oversea supplier, there are many things that need to be taken into consideration. You need to make sure you have someone who can fill orders, process shipments, and fix wrong or inaccurate orders between the distributor and manufacturer.
Read more: What to Look For When Working With Oversea Suppliers
If you are looking to export your vehicle to Canada, there are some important things you need to know first.
There is now a requirement to file your information for exportation with the Automated Export System, or AES. A new requirement was issued in April 2014, that states that your used self-propelled vehicle must be filed at least 72 hours before export.
Read more: Do You Need to Export a Vehicle to Canada?
According to the U.S. Foreign-Trade Zones Board's Annual Report to Congress, the value of exports from U.S. foreign trade zones (FTZs) increased by more than 15 percent last year. This increase brought FTZ exports to a record high of $79.5 billion in 2013, a solid improvement over 2012's $69.9 billion.
Read more: The Value of Increased Exports Through FTZs
QP/WP is the electronic filing of a CF7512 form or In-Bond document to U.S. Customs and Border Protection. Import and export businesses can use QP/WP to move goods In-Bond to another location. In action, this electronic filing smooths out much of the process of moving goods, which used to be bogged down with unnecessary steps.
Read more: What Is QP/WP?
Investors in international trade and business are beginning to fully understand that Africa is the next big market to explore. This vast continent is beginning to come into its own economically, and this growth has created a strong demand for U.S. goods and services.
Read more: Overview of Trade and Investment with Africa
At the beginning of this year, the United Stated Department of Agriculture's Agriculture Marketing Service (AMS) presented its Cotton Outlook Report. This report called for a 10.5 percent decline in the average prices of cotton, which brought the price to 68 cents per pound for 2014. International traders note this projection marked a five-year low and was below the average 70 cents per pound production cost the industry faced.
Read more: Cotton Imports Saw a Decrease in Fees