US businesses and workers can leverage maximum trade benefits by taking advantage of Global Free Trade Agreements (FTA's) especially in the United States. The reduction of trade barriers through FTA's and the creation of growing stable trading and investment environments make it easier and cheaper for U.S. companies to export and import key products and services. The challenge to utilizing these agreements is the compliance and management involved. Click here
to view the current list of countries the United States has trade agreements with.
The Multi-lateral NAFTA Free Trade Agreement is the Granddaddy of them all, and the most complicated to administer. To determine if a product qualifies for NAFTA your company must compile information such as materials used, (Complete BOM's), weights and units of measurement and certificates of origin, then determine the eligibility status based on applying the rules of origin.
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Companies are required to:
Manage and maintain updated rules of origin for the agreement
Research each product classification number and qualification status
Obtain product information and Certificates of Origin from suppliers
WatsonDavis can streamline the process and smooth out the roadway that leads to qualifying your products. We incorporate a step to step process that implements a database of material starting with the first qualification. Maintaining a shared parts database that correctly classifies the product and developing an electronic (or paper) repository for your supporting documents showing the proof of your claim for preferential treatment.
Even for a small company, leveraging NAFTA and other available free trade agreements in the global marketplace is like picking up free money left on the table.
Foreign Trade Assessments
Assessment for the application of Foreign Trade Agreements in your business model is simply a matter of knowing the availability and rules of origin for each trade agreement and applying that to your product. Sounds easy, right? Well, yes it is a bit more involved than a one size fits all process. This is the point at which WatsonDavis can use our expertise to your advantage. Let us evaluate and qualify your products for your expanding areas of international trade.
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There are approximately 400 Regional Trade Agreements that can help lower obstacles to trading in the open market and strengthen the trade rules between countries. Managing the entire life cycle of an FTA is equivalent to having the keys that open the doors to time and money applications in your business.
Country of Origin Research
Determining the country of origin of a product is important for labeling and marking requirements and for assessing tariffs and qualifications for FTA's. Rules of Origin can be very simple and noncontroversial as long as all the parts of a product are manufactured and assembled primarily in one country. However, when a finished product incorporates component parts originating in many countries determining COO can become a complex process.
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WatsonDavis has performed hours of research in the area of product origin. Does your product retain origin based on the "no tariff shift" rules, or must it incorporate regional value content to estimate percentages of origin for various countries. Our prior research experience can benefit your organization is several ways:
It allows us to validate a starting point across multiple industries.
It contributes to making the best assessment within a shortest amount of time, saving you money.
And it can utilize past research to apply technical support and documentation for your product.
Let us apply our expertise to work for you. Outsourcing research to experienced consultants not only provides you with the best information, it allows your organization to do what it does best - market your products to the world.