Talks over India-EU free trade deal 'to begin again in January'

36+

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

News

News 16 April 2024

The SaaS revolution: how MIC customers benefit from…

News 11 April 2024

Primark successfully transitions to DMS with MIC in the…

Events

Events 18 - 19 April 2024 | Mumbai, India

7th Customs & Trade Compliance India Summit 2024

Events 23 - 25 April 2024 | Dublin, Ireland

ICPA Europe Conference

Posts

Legislation | Axonn Ltd | MIC Customs Solutions | 17 December 2015

Talks over a new free trade agreement between India and the EU will recommence next month.

India and the European Union (EU) are to recommence their talks over a potential free trade agreement next month, it has been pledged.

An EU official has confirmed that discussions are to pick up again in Delhi in January 2016 following recent disagreements, with the first India-EU summit since 2012 to take place soon after in Brussels.

Newly-appointed EU ambassador Tomasz Kozlowski said: "The summit meeting will be held in the first half of 2016. We are now working on mutually convenient dates for the summit."

Key issues that have held up the initiation of new talks between the regions include the EU's recent decision to restrict the sale of around 700 generic drugs that had been clinically tested by an Indian firm, as well as diplomatic tensions following a 2012 incident in which two Indian fishermen were killed by Italian marines operating as part of an anti-piracy initiative.

However, Mr Kozlowski said the regions are now seeking to "open a new page", with a pact now being discussed to facilitate easier movement of people between India and the EU.

Software Solutions

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.

Software as a Service (SaaS) / Cloud

MIC provides the software via its data center infrastructure. On request, a MIC partner can take over the daily operational handling (managed services).

Low investment expenses and “pay per use” cost savings, as well as reduced time to value.

Customs Filing

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!”

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.

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.

Export Controls

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.

Global Implementations

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.