Integration Point provides information that is educational and informative to anyone seeking knowledge on global trade compliance and management.
Managing Multiple Free Trade Agreements Through AutomationA White Paper by Integration Point
On October 21, 2011, US President Barack Obama signed three key free trade agreements with Korea (KORUS), Colombia (COL-US) and Panama (PFTA) ending an impasse that began during the George W. Bush administration. The passage of these 3 FTAs, along with the many that have been signed recently between other countries, has brought to light the need to manage multiple FTAs and their corresponding rules of origin in the most efficient and effective manner.
Going forward, it may not be as easy as adding another line item or worksheet to a spreadsheet. Manually managing all FTAs for a company may not be very feasible at this point. But what are the options?
This paper will delve into the recent trade agreement activity and what it means to all companies as well as offering a way to manage the web of rules of origin that is being created around the world with multiple FTAs going into force.
Topics covered include:
- Growth of free trade agreements around the world
- Impact of these FTAs on growing exports and expanding trade
- More free trade agreements is a good thing, right?
- Managing multiple free trade agreements