CCC seminar to help enhance export earnings

Thursday, 15 September 2011 00:17 -     - {{hitsCtrl.values.hits}}

US Customs valuation and enforcement initiatives have significant bearing on any Sri Lankan manufacturer exporting to the USA.

US Customs valuation techniques and enforcement initiatives are complex in nature. A better understanding of these techniques can help you to identify how such information can be used to enhance the export earnings of your organisation.

The painfully slow recovery of the Western economies from the 2008 recession and probability of these economies experiencing another recession increasing, have stiffened competition on exports to these markets.

With the view of facilitating exporters to improve the competitiveness of their exports to US and EU, the Ceylon Chamber of Commerce (CCC) with PricewaterhouseCoopers will be organising a seminar on ‘New Insights into US Customs Valuation and Enforcement Initiatives’ on Thursday 22 September from 2:45 p.m. onwards at the Chamber auditorium.  The seminar will provide an insight in to the US Customs valuation techniques and enforcement initiatives such as First Sale for Export (FSFE), The Supportability of Related-Party Pricing & Customs- trade partnerships against terrorism.

The seminar will be addressed by Maytee Pereira from Pricewaterhouse USA. She has significant experience in assisting multinational clients with developing, executing and maintaining successful FSFE valuation programmes. In particular, she has worked with several Sri Lankan apparel manufacturers and their US importing customers to implement successful FSFE valuation programs, which have been acknowledged by US Customs & Border Protection.

For example, in the apparel and footwear manufacturing industry, FSFE is particularly advantageous since these products typically carry high Customs duty rates.  An apparel/footwear importer in US who is able to utilise FSFE can realise significant ‘above the line’ savings with regard to its Customs duty.

With the continuing global interest in manufacturing in South East Asia with its competitive environment, companies utilising the FSFE valuation are expected to grow in appeal to US importers. The seminar will provide a valuable opportunity for all exporters interested in US and EU markets to learn about the Custom valuation and enforcement initiatives to increase the export gains.