35+

years exclusive focus on customs & trade compliance software solutions

55+

countries on 6 continents in productive usage for customs filing

150+

countries covered with Global Trade Content Services

250+

free trade agreements in productive usage for automated origin calculation

Gulf Arab states 'keen for trade deal with post-Brexit UK'

Industry News | | MIC Customs Solutions |

A number of Gulf Arab states have shown a willingness to agree a trade deal with the UK once it leaves the European Union.


Several Gulf Arab states are keen to secure an early deal on free trade with the UK after it leaves the European Union, according to a report.

A number of officials have confirmed to Reuters that steps are already being taken to make sure that Britain is able to trade freely with key Gulf economies as soon as possible after Brexit.

Qatari finance minister Ali Sherif al-Emadi discussed a partial draft of a free trade deal with British chancellor Philip Hammond in December, according to an anonymous representative of the country.

The official added that a "signature-ready" deal with the Gulf Cooperation Council - which includes Qatar, Saudi Arabia, the United Arab Emirates, Kuwait, Bahrain and Oman - may also be prepared.

Another Gulf official said: "A free trade agreement with the UK ... This is something we would like to encourage and support."

The British government will trigger Article 50 of the Lisbon Treaty to formally commence the two-year process of leaving the EU this week. The country cannot formally sign any trade agreements while it remains an EU member, but the government is keen to start preparatory work now so any deals can be concluded as soon as possible after it leaves.


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MIC - Customs and Trade Compliance Software Solutions worldwide

Multinational companies are facing greater compliance challenges when addressing the continuously evolving international legal requirements. Customs and trade compliance management has a significant impact on production location and purchasing decisions, delivery times, cost savings and competitive advantages. Thus, it is crucial to establish processes that are accurately, effectively, and efficiently managed utilizing proven global IT solutions.

The international requirements for companies regarding customs and trade compliance management are complex and subject to ongoing legal changes covering a multitude of topics, such as: Correct product classification, compliance with export control regulations, numerous sanction list screenings, calculation of origin based on ratified free trade agreements, supply chain security initiatives, and management of special customs regimes as part of the import and export clearance processes. In addition, country-specific legal requirements that include legislative and technical changes make it increasingly difficult to completely fulfill the requirements of international customs and trade compliance.

A partnership with MIC strengthens a company’s ability to deal with the daily operational challenges of international customs and trade compliance management. MIC has a trendsetting Global Trade Management (GTM) software solution that allows companies to standardize and automate their customs and trade compliance processes. MIC’s software solution is available on 6 continents and can be configured according to the company’s specific needs to significantly improve legal compliance, thus saving time, money, and eliminating future business disruptions.

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Automated electronic export and import customs clearance processes, including special customs regimes and inventory management: Import, Export, Transit, Inward & Outward Processing Relief, Bonded Warehouse, Foreign Trade Zones, Intrastat, Central Clearance – SASP, EMCS and more. “We do the last mile!”

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Central Classification

Global part master data management with increased degree of automation in customs tariff & export control classification of products based on regularly updated national customs tariffs and export control commodity lists.

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FTA Management

Automated preferential and non-preferential origin calculation for 250+ free trade agreements as well as electronic exchange of customer supplier declarations. Management of supplier declarations via supplier web portal.

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Central export control check of business transactions, including sanctioning list check, embargo check, end-user / end-use check, determination of approval requirements and management of approvals.

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There are various customs regulations and requirements programs throughout the world. Examples include ACE, FTZ and Duty Drawback in the USA, IMMEX in Mexico, the Union Customs Code (UCC) in the EU (and its various national characteristics), the Free Zone in Thailand, and the China Single Window. All of these have the objective of making customs procedures simpler, more modern and more efficient.

MIC Global Trade Management (GTM) software helps companies maintain international visibility and to take advantage of these program changes in legislation. We know the intricacies of national and regional customs and export control requirements. Our software takes account of the respective regulations and uses similarities in global customs and export control law. This is done in 55+ countries on 6 continents with regularly updated trade content for 150+ countries. In addition, our data analytics & visualization tool enables improved decision making by identifying optimization potentials and supply chain trends across global customs and trade compliance processes. As a result, global business processes can be designed and automated more efficiently. This not only increases compliance, but also saves time, money and increases global competitiveness.

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