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Foreign trade zones can benefit from logistics companies

It might be worthwhile to speak with a third-party logistics company if your business imports products from foreign countries. This will help you learn about Foreign Trade Zone access, and what a 3PL could offer your business in an FTZ. FTXs are considered secure locations that have been under the supervision of US Customs and Border Protection (CBP) and are generally not subject to CBP jurisdiction once activated. They are located near CBP entry points or ports and can be considered the United States' equivalent of free trade zones.


Foreign Trade Zones (FTZ), are available to facilitate imports in the country. No duty is levied on products that are not yet at their destination in the United States. FTZs are able to store products for longer periods. You can return them if they are no longer needed. Trudy Huguet (senior director, FTZ Product, GEODIS Americas) stated that the FTZ program was an initiative of the U.S. government that focuses on compliance. She stated that the program was intended to cover all aspects in the supply chain.

Huguet pointed out that while foreign trade services are valuable, 3PLs can also be helpful in compliance and efficiency. 3PLs may have better access to many operational systems and data flows for managing FTZs. These systems can also be connected to foreign trade zone systems. Some shared costs, such as warehouses and other facilities, may be serviceable by a 3PL.

She claims that 3PLs are driven primarily by consumer wants such as personalization and square footage. They will require services, personnel, and team members to manage the FTZ. According to US trade data, it is important to ensure that a company can manage its needs during peak holidays season or earlier. Although firms might have managed their zones in the past, it was necessary to bring in competence. This was why cross-training was necessary. Huguet claims that contracting to a 3PL will eliminate "risks associated" with these programs.

Huguet asserts that the U.S.a U.S.FTZ Sister Scheme is the global free trading area. Huguet claims our work is unique. We have strong compliance with all industries and producers. They can also benefit from the FTZ scheme if they import into the United States. Huguet explains that you can participate in an FTZ by following three steps. To obtain the FTZ designation, first consult the FTZ board. After activation, security, and construction of an operational section of FTZ parallel to the in-house system are completed,

Paul Killea is GEODIS' senior vice-president for Freight Services Compliance Security in the Americas. He is responsible both for the United States and Canada's import and export compliance. Killea defines compliance as ensuring that all services are in compliance with all applicable regulations. It is our responsibility ensure that all processes are in place, and that customers and the government have the information and tools necessary to audit them and make reports on them.

They can also assist with government trade issues, such as China.

US import data shows that many companies have experienced problems as a result of the COVID-19 pandemic, port congestion and other factors. 3PLs that can help with storage or warehousing have access to FTZs.

 

Related Search:-

US trade data
US customs data
import export data 

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