UK government seeks views on barriers to trade in seven markets

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Industry News | Axonn Ltd | MIC Customs Solutions | 24 August 2016

The British government is to examine potential trade barriers stopping local companies from doing business in Brazil, Colombia, India, Kazakhstan, South Korea, Taiwan and Vietnam.

British businesses are to give their views on the barriers that are preventing them from forging stronger trade links with seven key international markets.

The UK's Department for International Trade is planning to hold joint economic and trade committee meetings with Brazil, India, Kazakhstan, South Korea, Taiwan and Vietnam by the end of 2016, and wishes to hear from UK businesses about their trade priorities prior to these talks.

Additionally, Colombian president Juan Manuel Santos Calderon will be paying a state visit to the UK in November, meaning issues of bilateral trade and investment with this country will also be on the agenda.

The department said: "The aim of these meetings is to discuss bilateral trade and investment issues and to strengthen the UK's economic, industrial and commercial ties with these markets."

Specifically, the British government is keen to find out businesses' greatest concerns about dealing with these countries and how these might be addressed, as well as recommendations for bilateral initiatives that could improve the business climate.

Companies are being called upon to complete an online survey to share their thoughts on these issues, as well as sharing specific examples of good business practice and measures that could encourage more firms to export to these markets.

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.

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

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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

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Export Controls

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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.