Learning can be easier with EX - Library.

Explore our newest feature, a reliable informational resource you've been looking for!
Join |
< Back to questions :: Q&A / Trade Associations / Business and Industry Services

Global compliance

Trade Associations
Business and Industry Services
From Bangladesh
To India
419 views / 0 experts
Jul 10, 2020
What is global trade compliance / what is customs and trade compliance?

1 answer

Jul 10, 2020

Trade compliance is the process of ensuring adherence to all the laws, rules, regulations and procedures governing all trade between two or more countries. As these system of obligations is determined per country (or economic region), compliance entails dealing with requirements of multiple countries. Compliance covers, among others, the following aspects: 1. Fiscal: classification of cargo, valuation, payment of duties and taxes; 2. Health, safety: measures to protect measures to protect humans, animals, and plants from diseases, pests, or contaminants; safely packing hazardous materials to avoid accidents during transport; measures to prevent dangerous products (posing risks to public safety) from entering the country, such as toys, fireworks and medicines that do not adhere with safety regulations; 3. Security, counter terrorism: measures to prevent the smuggling of weapons, the financing of terrorism or organized crime; 4. Strategic goods: measures to prevent enforce political decisions that strategic goods (e.g. weapons) should not be obtained by specific regimes, organizations or people; 5. Cultural goods: measures to protect cultural goods, i.e. goods that are deemed to belong to a country’s cultural heritage because of their great artistic, historical or archaeological value; 6. Counterfeit goods: measures to prevent the trade in counterfeit goods; 7. Environment: risks associated with the transport of waste substances.

read more

Top Rated Experts

Raymond Yang
Raymond Y.
Leon Lacroix
Leon L.
Amber Stellingwerf
Amber S.
This website uses cookies. By using this website, you consent to our use of these cookies