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.
Sanctions and embargoes tend to have a major impact on international trade activities. Companies must be aware of the key sanctions that are placed on entities from specific regions. Awareness of such sanctions is important for two reasons. Firstly, this ensures that your business is not illegally engaging in any transactions with sanctioned parties. Secondly, it also acts as a risk mitigation measure for your business. This blog focuses on reviewing the key EU and U.S. sanctions and embargoes that are in place for the year 2020.
International trade continues to evolve at a rapid pace. Exporters and importers must be fully aware of the latest developments in order to ensure that they are not missing out on growth opportunities. In recent years, global trade has been affected by a trade war and increasing political influence. However, these hurdles are not going to stop companies from transacting across borders. It is likely that global trade will continue on a growth path over the next few years. This blog analyses the current state of affairs and makes four major global trade predictions for the year 2020.
Compliance is a key aspect of international exports and imports. Traders around the world need to ensure that they are fully compliant with all regulations and audit requirements prescribed by the authorities. Such audits can be multi-dimensional and can include elaborate processes and procedures that are used to check all transactions conducted by a trader. There is a possibility that your business is not fully prepared for compliance audits. This blog will help your business in surviving a compliance audit by providing some key tips and tricks.
Businesses engaged in international trade need to comply with various local and international laws. Enforcement officers around the world are constantly on the lookout for import and export transactions that either violate export controls or are non-compliant with other regulations. Although various businesses are now making use of automated record-keeping solutions, using these may not fully protect them from the risks of non-compliance. This blog helps these businesses in understanding the nuances of export control record keeping. It also provides important information related to maintaining documents in such a manner that full compliance can be achieved.