Are you obtaining the lowest possible duty rate on your trade in goods with Canada, Mexico, and US? The North American Free Trade Agreement (NAFTA) reduces or eliminates duties on eligible goods traded among these North American markets. To determine eligibility for favorable treatment under the Agreement, and to preclude third countries from obtaining benefits by merely passing goods through North America, the NAFTA rules of origin were negotiated. NAFTA adopted the same basic origin rule as has governed the 1988 US-Canada FTA: goods generally must undergo sufficient processing within North America to result in a change in tariff classification.
In addition, NAFTA provides for a uniform certificate of origin to be prepared by the exporter and possessed by the importer when the goods are entered into the importing country. This certifies that a good being exported from one Party into the territory, of another Party qualifies as an “originating good” These rules of origin and certificate of origin rules are complicated, complex, and not well understood by import-exporters.
Understanding NAFTA opportunities and challenges is an essential element of business strategy not just for US, Mexican, Canadian companies but also Asian and EU firms competing for position in the NA space.
This webinar will assist import-exporters in understanding the NAFTA rules of origin and the Certificate of Origin requirement. Understanding these rules and how they apply will allow you to take advantage of NAFTA to reduce your costs. How import-exporters classify their potential NAFTA products has enormous implications for their overall costs of doing business and profit margin.
Participants will learn how to properly complete the NAFTA Certificate of Origin, in order to receive duty free treatment, prevent errors that can result in severe civil/criminal penalties by each countries Customs administration, and preparing for a NAFTA audit.
For more than 20 years, Mr. Douglas Cohen has been at the forefront of international trade and transactions. With senior positions in private practice, the US Department of Commerce, the European Union, American Airlines, and the IATA, he has developed substantial expertise in import-export operations and compliance, international trade, global negotiations, and international contracts and transactions.
At present, he is a Senior Manager, Global Trade, and Contracts, at Worldwide Trade & Legal Consultants, where he provides legal and strategic advice to organizations seeking to enter or expand foreign markets. Mr. Cohen has been asked to teach his expertise at universities and corporate seminars on international business and law in the US, Europe, Asia, and the Middle East.