The Background
International commerce is critical to sustaining economic growth, raising living standards, creating jobs, and allowing consumers access to a wide range of goods at affordable prices.
Compared to domestic trade, international trade is complex. When trading across borders, doing business is complicated because multiple countries with multiple government agencies, each governed by their own laws, regulations, and judicial systems, become involved. Each transaction can be subject to a wide range of policy domains, such as export control and sanction, customs, health, safety, and economic and environmental regulations. The number of regulatory updates keeps growing despite initiatives to harmonize regulations, reduce red tape, and reduce administrative burdens.
Customs authorities play a critical role in the economic competitiveness of nations by providing expedited clearing processes and implementing effective controls that secure revenue, ensure compliance with national laws and protect society. Next to efficient and effective customs procedures, they should be proactive in making it easy for organizations to comply with regulations, reduce the cost of participating in international trade, and thus stimulate a nation’s economic competitiveness.
In this whitepaper, we will show you how our International Trade and Transport Compliance Solution (ITTS) effectively helps customs organizations when it comes to screening customs declarations and assuring compliance with the rules and regulations that govern international trade.
