We have asked senior managers at Allyn International to investigate the top trends in Trade Compliance. On this 5th day of May, we have compiled the top 5 topics that are #trendingnow. Are you interested in knowing more about these trends? Just tweet us using the hashtag #allynintl or email us at [email protected].

Cheap Oil Will Lead to Increased Spending
 

The average American family will have revenue in the family budget and manufacturers and importers will benefit from lower transportation and production costs. For manufacturers, lower energy costs provides a significant boost by lowering transportation and production costs. For consumers, the lower oil prices increase the cash in their wallets. Retailers expect that this extra cash will result in more spending for 2015.

 

Many countries across the globe are handling the effects differently, some negatively and some positively. Read more here!
Modernization of Free Trade Agreement with Chile
 

In an aggressive plan to modernize past Trade Agreements, Canada and Chile reached an agreement to modernize the Canada-Chile FTA. The modernized FTA includes a new chapter on sanitary and phytosanitary measures, as well as technical amendments "to the existing government procurement chapter". Additionally, importers should keep an eye out for amendments to the Canada-Chile rules of origin in the near future. Allyn International can assist companies in navigating the Canada- Chile FTA and determining whether their company can take advantage of the FTA's duty saving benefits. Read more here.

 

Allyn can help! We can assist companies in navigating the Canada- Chile FTA and determining whether their company can take advantage of the FTA's duty saving benefits.

Schlumberger, PayPal, and Sanctions Violations
 

Quarter one ushered in two major sanctions violations. The Oil and Gas mogul Schlumberger plead guilty to violating US sanctions to Iran and Sudan paying $232.7 million in penalties. Likewise, Ebay Inc's PayPal settled with the U.S. treasury Department for $7.7 million for alleged sanctions violations for goods and services going to Cuba, Sudan and Iran as well as processing payments for a man allegedly involved in black market sales of nuclear weapons. Read more details.

 

Allyn International can assist importers in avoiding sanctions violations by providing restricted party screening, export code classification and consulting to ensure that exports are compliant and legal.

WTO Cuts World Trade Growth Forecasts 
 
On April 14th, 2015 the World trade organization lowered its trade forecast to 3.3% for 2015 and 4.0 % in 2016 due to slow economic recovery and growth estimates from other global organizations including the International Monetary Fund. 

Read about  WTO Director, General Roberto Azevedo , on the growth forecast. 

Allyn International can assist importers no matter the economic outlook, providing Tax, Global trade Compliance and Logistics packages customized to exceed client expectations in both services and price.
The AGOA Extension
 

On April 16th, 2015 the U.S. Senate Finance Committee and House and Ways and Means Committee announced a bill- the AGOA Extension and Enhancement Act of 2015 that would renew both the African Growth and Opportunity Act (AGOA) and the Generalized System of Preferences (GSP) agreement which allows duty free importation on a variety of products from developing nations. The new bill will extend AGOA for 10 years and will renew and extend the GSP agreement that expired in 2013 until 2017.  Read more on representative, Paul Ryan, helps introduce bipartisan bill to extend AGOA.

Allyn International Services, Inc is dedicated to providing high quality, customer centric services and solutions for the global marketplace. Allyn's core products include transportation management, logistics sourcing, freight forwarding, supply chain consulting, tax management and global trade compliance.  Allyn clients range from small local businesses to Fortune 500 firms. Allyn conducts business in more than 20 languages and has extensive experience in both developed and emerging markets. Highly trained experts are positioned throughout North America, Europe and Asia and Allyn regional headquarters are strategically located in Fort Myers FL USA, Shanghai P.R. CHINA and Prague, CZECH REPUBLIC. For more information, log on to www.allynintl.com.