Assistance in Taking Full Advantage of FTA
The proliferation of multilateral and bilateral FTAs over the last few years means that your products are now effectively competing with rival products from all over the world. In this situation, taking full advantage of free trade agreements is imperative to stay competitive. However, in a recent KPMG study it is reported that “70% of companies do not fully utilize Free Trade Agreements.”
Rules of Origin Compliance Service
Preferential rules of origin are applied by countries that offer certain trade partners zero-duty or reduced-duty access for their imports as a means of determining the eligibility of products to receive such preferential access. In a globalized world with complex supply chains, it may be difficult to determine where a product originates. In order to take advantage these agreements, it is essential that a product’s originating status be clearly defined.
Collecting & Analyzing Certificate of Origin
In order to take advantage of Canadian international agreements, it is essential that all of your suppliers should be able to provide you a valid certificate of origin each year. The burden on an importer like you is to make sure a valid FTA certification is in your possession when you make the claim for FTA benefits.
Reducing FTA’s Non Compliance Risk
Free trade agreements do not mean an “open border” with regard to the compliance requirements for merchandise trade among the parties. Complying with rules of origin and other requirements is sometimes so complicated and time-consuming that companies find it’s not worth the trouble or the risk of penalties for non-compliance.