Now that Brexit has finally materialised, traders based in the UK and the EU will have to alter their strategies significantly. The UK is no longer a part of the EU, and exporters need to keep track of numerous rules and regulations related to trade
Month: July 2020
The ongoing coronavirus crisis has highlighted the importance of supply chains. During these tough times, companies need to be able to source and supply goods without any hindrances. However, this is proving to be a difficult task because of the major complicacies that are currently being seen in global supply chains. For example, it has become harder for companies to obtain approvals and meet compliance requirements. Despite these challenges, the ongoing pandemic presents a major opportunity to companies in the form of improving supply chains for the long run. This blog focuses on discussing the ways in which companies can build more resilient supply chains.
Exporters based in the US are governed by various rules and regulations. One such set of regulations govern sensitive information, technology and software. These three areas are earmarked as extremely important because of their role in the US foreign policy and national security. It is worth noting that such regulations are not only limited to physical goods. Instead, they also apply to non-tangible aspects of the trade such as technical data exports. This article focuses on the key risks related to technical data exports and analyzes the reasons behind the spike that has been witnessed in such risks in recent times.
The sudden advent of the COVID-19 pandemic has meant that trade talks have been put on the back burner. Governments around the world are focusing their efforts towards relief and containment measures as they aim to minimise the impact of the coronavirus. However, this does not mean that trade talks between countries have ended. In May 2020, the UK and the US announced that they are commencing high-level talks related to a potential trade deal. This blog focuses on the new UK-US trade talks and discusses what these talks could mean for Great Britain.
The export of products is a multi-dimensional process that needs you to complete a series of steps. These steps include the negotiation of a contract, arranging for the documents, and meeting the compliance requirements. In addition to this, the export process also includes steps such as customs clearances, tariff payments, deliveries and checks. The entire process is a complex and time-consuming affair. In order to streamline this process, traders may look to seek the help of export specialists such as OCR. This article focuses on end-to-end export workflows and discusses how OCR could help you in streamlining them.
The global trade landscape has changed drastically over the past couple of years. Events such as the US-China Trade War and Brexit have meant that trade relations are being impacted. In such a rapidly changing environment, it can be hard for traders to keep track of changes in trade agreements. However, keeping an eye out for such agreements is important because it could have a direct bearing on your day-to-day operations. Even the smallest changes in trade agreements could mean that you may not be able to export or import the products that you need. This blog will help you in understanding how to manage changes in trade agreements.
The COVID-19 pandemic has emerged as one of the most disruptive global events of recent times. The coronavirus has already resulted in over 200,000 deaths and has infected over 3.6 million people around the world. Almost all industries globally have been negatively impacted by this pandemic. COVID-19 has also had a significant impact on international trade, disrupting supply chains, reducing trade volumes, and limiting product availability, causing serious concerns for traders.
According to estimates, the global trade volumes during the year 2020 are expected to decline sharply and the EU &UK are not immune to this crisis. The rapid rise of globalisation has meant that products are being sourced from all over the world, making it harder for traders to conduct their business in a usual manner.
This article analyses the real impact of the coronavirus crisis on global imports and exports and focuses on discussing how import and export activity has changed.
The global trade industry continues to evolve on a consistent basis. Regulations tend to change, trade flows continue to evolve, and pricing is also not static. Therefore, it is extremely important for traders to keep a tab on the latest happenings in international trade. This is because the state of the industry has a direct bearing on their current operations, their ability to grow in the future, as well as the degree of challenges that they face. This article focuses on discussing the latest happenings in international trade so that importers and exporters are aware of the rapidly evolving market.
Importers and exporters need to fulfill a range of compliance requirements before their transactions can be completed. If you wish to achieve faster clearance from the customs department, you need to have a robust trade compliance program in place. This blog focuses on helping traders in speeding up their transactions by providing three reasons to review their trade compliance program.