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Logistics companies can benefit from the Foreign Trade Zone

If your business involves international product imports to U.S., a 3PL can assist you in learning more about Foreign Trade Zone Access.

FTXs are areas that are under U.S. Customs and Border Protection's (CBP) surveillance and generally considered to be out of CBP territory after activated. They are close to CBP entry points or ports and represent the U.S. equivalent of what is internationally known as free trade zones.


 

Foreign Trade Zones (FTZ), allow import products to enter America. There is no duty until the products arrive at their destination in the United States. FTZs are able to store products for longer periods. FTZs can store products for longer periods.

Trudy Huguet is the senior director for FTZ Products at GEODIS Americas. FTZ is an American government program that stresses compliance. She stated that the program can be used in any supply chain.

Huguet stated that, while foreign trade services can be great, 3PLs could also be a benefit for compliance and efficiency. 3PLs may have greater access to data flow and other operations systems required for multiple FTZ system. Shared costs, such as warehouses and other facilities, may be serviceable by 3PLs.

She explained that 3PLs are driven primarily by customer requirements such as customization and square footage. FTZ managers need services and staff to manage them.

According to US trade data it is crucial to respond to company needs during peak holiday season. While companies were able to manage their own departments, this meant that they needed to offer the expertise. This made cross-training necessary. Huguet stated that 3PLs could also be hired to remove "inherent risks" from these programs.

Huguet stated that the U.S.a U.S.FTZ is a sister program to the international free trade zone. She stated that the U.S.a U.S.FTZ was unique and had a strong track record of compliance with all sector, producers, distributors, manufacturers, and other stakeholders. They can benefit from this program if they import to the U.S.

Huguet stated that there are three steps required to join an FTZ. Consultation with the FTZ board is required for designation. After activation local customs and security, and construction of an operational FTZ Section that runs parallel to in-house systems.

Paul Killea is the senior vice president for Freight Services Compliance & Security for Americas, GEODIS. He is responsible for ensuring compliance with Canada's import and export regulations and managing FTZ products.

Killea explained that "compliance" refers to the ability to ensure customers and services adhere to all applicable regulations (internal as well as domestic). It is our responsibility ensure that we have the tools and processes to audit, report, and make compliance visible to all parties including government.

Huguet says that FTZs are increasing in popularity because companies want to improve their supply chains and eliminate bottlenecks. FTZs offer a better solution to all problems.

They can also assist with government trade issues like China. US import data information shows how companies responded the to the COVID-19 pandemic. FTZs can be used by 3PLs that require storage or warehousing support.

Huguet admits that port congestion and COVID can sometimes make it slow or impossible for merchandise to reach its destination. FTZ certainly has helped.

 

Related Search:-

US trade data
Us Customs Data
Import Export Data 

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