Innovation Partner - Amber Road
Innovation Partner - Amber Road
As the year comes to a close, several experts reflect on the global trade trends that made heads turn and how they might play out in 2018.
In April, the World Trade Organization reported that global trade was expected to recover in 2017 and 2018, even amidst the maelstrom of policy uncertainty and growing protectionism. Hoping for a rebound in economic performance, governments would need to pursue “the right policy mix.” Did that happen? What do importers and exporters need to think about now?
Amber Road’s sourcing and global trade experts discussed these topics during this webinar. Speakers included:
- Eric Johnson, American Shipper's Research Director & IT Editor, who will talk about sourcing challenges including supplier optimization strategies, the under-utilization of free tradeagreements, and risk concerns in the early stages of product development.
- Kristine Bols, Director of Global Trade Content for Amber Road, who will discuss export topics including sanctions, screening, and export controls.
- Aleks Aperans, Associate Product Manager for Amber Road, who will provide updates on importing and the ACE PGA program.
- Moderator: Gary Barraco, Director of Global Product Marketing for Amber Road
Webinar Recording: https://attendee.gotowebinar.com/register/1521627722219156739
Amber Road's Trade Trends Report: https://info.amberroad.com/rl_
It can be a challenge to build internal trade compliance expertise when regulations shift, requirements change, and your team is dispersed across functions and geographic locations.
Take a well-planned approach to team training and reduced risk of non-compliance. Global Trade Academy’s new e-Learning program provides ongoing training with a reasonable care approach, testing your key personnel who are critical to safeguarding your firm’s global risk.
During this webinar, Jean-Pierre Geronimi, Director of Amber Road’s Global Trade Academy, will review the benefits of Amber Road’s e-Learning platform:
- Access to fundamental and advanced training programs that suit the needs of your purchasing, supply chain, accounting, HR, import, and export groups
- Support your organization’s trade compliance goals
- Ensure employees understand and commit to trade compliance
- Nurture a team culture of continued learning
Don’t miss out on this key component of any compliance training budget – register today!
Global trade and policies are changing quickly. Leaders of the world’s biggest economies are trying to have it both ways on trade – protectionism with a commitment to free trade. This leaves companies that move goods and services across borders between a rock and a hard place when it comes to sorting out their business.
USFIA's Innovation Partner Amber Road has gathered a team of global trade content experts who will shed some light on recent trade policy changes and discuss how you can remain complaint through it all, including:
- The proliferation of bilateral and multilateral trade agreements
- The European Union’s new trade pacts with Vietnam, Canada and Japan
- Restrictive measures being placed on importers into the Netherlands
- India’s new GST that simplifies the archaic system currently in place
- More stringent denied party screening lists
Stay current, stay compliant. Join Amber Road to learn more about reducing your global trade risk and improving process efficiencies.
Speakers will include:
- Gary M. Barraco, Moderator
- Kristine Bols
- Farooque Nayyer
- Arne Mielken
As companies continue to increase their exports, their risk profile also increases. If you are not actively screening your customers and all the parties in between - you are opening yourself up to high monetary, civil and criminal penalties, as well as potential loss of export privileges. All of this will severely damage your brand reputation in your industry and with government agencies, which can be detrimental to your business
Join Amber Road for an educational webinar to learn how you can know your customer better, as well as all of the parties in between that you may not even know you should be screening.
- When did you last evaluate your risk profile with these questions?
- Should I be screening the contact person at my customer, freight forwarder, customs broker, suppliers, manufacturers or vendors?
- Should I be screening addresses, as well?
- Should an address return a match when a customer’s name or any one of these parties’ names did not?
Recently, USFIA’s Innovation Partner Amber Road announced new expansions to its solutions to help companies doing global business. Amber Road significantly increased the global coverage of its Free Trade Agreement (FTA) Management solution, with the addition of 89 global trade agreements, bringing the total to over 120. In addition, Amber Road expanded their Restricted Party Screening (RPS) tool to include Politically Exposed Persons (PEP) lists.
Amber Road has significantly increased the global coverage of its Free Trade Agreement (FTA) Management solution, with the addition of 89 global trade agreements, bringing the total to over 120. FTA identification and qualification in Amber Road’s solution is powered by its Global Knowledge® database of global trade content, which contains the rules of origin, product classifications, and duties and taxes for the major trade agreements.
Amber Road now supports new agreements in North America, Asia, Europe and South America. This includes many of the bilateral/multilateral agreements such as the African Growth and Opportunity Act (AGOA), the ASEAN-Japan Comprehensive Economic Partnership Agreement (AJCEP), the European Free Trade Association (EFTA), the China-Switzerland FTA, the Mexico-Central America FTA, and the many Generalized System of Preferences (GSP) programs that have emerged recently.
Utilizing Amber Road’s FTA Management solution can help open up new markets for companies by simplifying the compliance and qualification processes. With new FTAs just passed or on the horizon, such as the EU-Canada FTA, sourcing decisions can be made with an eye towards potential trade benefits from the start.
In addition, Amber Road added advanced Politically Exposed Persons (PEPs) lists to its Global Knowledge® database. In addition to being the industry’s most comprehensive database of government regulations and international business rules, Amber Road’s Global Knowledge helps automate Restricted Party Screening (RPS) processes to quickly vet customers, suppliers and other trading partners against 570+ restricted party lists sourced from government institutions worldwide.
To ensure that businesses do not engage in bribery to obtain or retain business, many countries around the world have passed anti-corruption laws, such as the US Foreign Corrupt Practices Act, the UK Bribery Act, the Canadian Corruption of Foreign Public Officials Act, Chinese Anti-Corruption Laws and more. Some of these laws do not distinguish between small and large bribery payments, thus prohibiting any facilitation payments. PEP screening is a risk-assessment tool to help businesses protect themselves from the regulatory, reputational and economic risk associated with these types of laws.