CONFERENCE: Drastic Changes in Global Trade Leads to Compliance Hurdles
Recent Gauteng Business News
A leading provider of content-enabled workflow solutions, today announced it will host a Global Supply Chain conference on 25 March in Johannesburg. The aim of the conference is to assist all Southern African business and trade leaders involved in imports and exports to come to grips with new legislation in international trade law.
In line with new World Customs Organisation (WCO) regulations, and the revised Kyoto Convention, the South African Customs and Excise Act has been significantly amended with changes requiring commentary by 26February this year. The focus of these changes will be on trade facilitation and security. These WCO instruments have already been introduced into EU and US legislation.
“Amateurs will no longer be tolerated in world trade and non-compliance practices will have a tangible bottom-line effect on global operators,” says Mark Goodger, senior advisor to Trusted Trade Alliance and director of Global Maritime Legal Solutions, speaker at this year’s LexisNexis Global Supply Chain Conference.
“Expected changes in the legislation indicate that Southern African companies that wish to participate in international trade will be required to apply for certified Authorised Economic Operator (AEO) accreditation in order to prove that their trade is secure and does not represent a threat of terrorism.”
A company applying for AEO or similar accreditation will have to be inspected and audited by their regional customs authority before accreditation will be issued. This audit will include thorough inspections of the company’s finances, information technology, training, security, site and packaging of goods, as well as employee background screening checks.
“The AEO accreditation and numerous other supply chain compliance developments will carry significant financial and economic benefits that will continue to breathe life into the global supply chain, which is the lifeblood of many Southern African businesses,” points out Goodger.
The LexisNexis Global Supply Chain conference will present and address the impact of an empirical analysis of recent developments in international trade law which have already had a significant effect on South African trade. The conference will examine the goals, strategic alignment of risk and business practices that should be adopted by Southern African enterprises to secure their current position and to increase Southern Africa’s future role as a leading trader in the global supply chain,” says Billy Last, CEO LexisNexis South Africa.
Acclaimed Swedish lawyer and commercial law specialist Professor Emeritus Jan Ramberg is the headline conclusion speaker at the conference. Presenting for the very first time in South Africa, Prof. Ramberg will give business leaders a high-level perspective on the challenges and opportunities that face companies in meeting the requirements of international trade benchmarks. Prof. Ramberg is the author of the ICC INCOTERMS, a series of international sales terms widely used in international commercial transactions. These terms are amended and adjusted every ten years and Prof. Ramberg’s keynote address will summarise the effect of these changes on companies in global supply chain agreements.
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