About Trade Agreements
Welcome to Trade Agreements Info – resources for trade agreement news, analysis, and other global trade management musings.
What Are Trade Agreements?
In case you’re just starting out or need a refresher, Trade Agreements are cooperative policies between two or more nations that reduce or eliminate duties and taxes on goods traded between the members – provided certain rules are met. There are a few different types of trade agreements, such as:
- Bilateral Trade Agreements: reduced or zero duties exclusively between two countries. Examples include US-Australia and US-Singapore.
- Multi-lateral Trade Agreements: reduced or zero duties between multiple countries. This includes DR-CAFTA, and ASEAN.
- Free Trade Agreements: Unless the word “free” is in the agreement, don’t assume that you will not pay any duties! There are many agreements in effect, but not all of these eliminate duties (i.e. Belarus Trade Relations Agreement)
- Trade & Investment Framework Agreements: Not a ‘free trade agreement’ but opening the door to advancing trade between two or more countries.
Companies looking to optimize their low-cost country sourcing strategies realize the value within free trade agreements. In fact, many large exporters save $1,000,000 or more by sourcing from free trade agreement partners.
However, even through you see “free” doesn’t mean there is no cost – setting up and maintaining a trade agreement system within a company can be costly and frustrating. Companies must not only ensure their items are properly classified and meet the FTA requirements, but their suppliers or customers must also maintain strict documentation and accurately comply with these rules. To manage this, importers and exporters need a Trade Agreement Solution.
Visit these pages for more Trade Agreement resources:
Short from qualifying your products for free trade agreements, I’d like to provide useful information, alerts for upcoming seminars and webinars, and more global trade news here at TradeAgreements.info.
We love feedback! Please feel free to comment on any and all posts!
Save time! Instead of visiting TradeAgreements.info every day, subscribe to this blog in a Reader or by email. That way, you will never miss a new post!
Delivered by FeedBurner
This blog is created and maintained by Amber Road, Inc. Trade Agreements Blog reports on current issues, news and events associated with global trade management. The authors of this blog are not trade attorneys and in no way should any posting be construed as compliance advice; furthermore, the authors are not responsible for any comments posted by others.