TNETS Customs and Trade Compliance News


Citi digitises trade finance compliance with new NextGen project

Citi, in partnership with advisory firm EY and analytics company SAS, has launched an artificial intelligence-based solution to digitise its trade compliance processes. 01-05-19 BY ELEANOR WRAGGO The NextGen project brings together EY’s business, risk and technology consulting experience in the financial services sector with SAS’ analytics platform to create a risk analytics scoring engine which can analyse large volumes of trade transactions. The solution includes natural language processing...

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Platinum Equity Closes Acquisition of Customs Broker Livingston

Platinum Equity has completed its acquisition of Livingston International, Canada’s largest customs broker, for an undisclosed sum. May 02, 2019 Nate Tabak The deal puts Toronto-based Livingston, a member of the Blockchain in Transport Alliance (BiTA) in Platnium’s $13 billion portfolio. The companies announced the completion of the acquisition on May 2. “We are excited about the possibilities that lie ahead and look forward to benefiting from Platinum’s dedicated...

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Case Study – Customs Brokerage for a global group providing a wide range of integrated shipping, logistics and marine services.

Nature of Client’s Business Air freight and ocean freight services to the global marine and oil and gas industries Volume of Client’s Activity Ocean freight around 3,000 customs declarations per annum Air freight around 10,000 customs declarations per annum Client’s Work Processes Before Engaging TNETS As Customs Declaring Agent / Customs Broker Customs declarations performed by client’s operations staff who are required to multitask.Operations staff were required to make...

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Maersk Launches Online Digital Customs Clearance For Seven Countries in Europe

AP Moller – Maersk has launched a digital customs clearance platform for seven European countries, which claims to be an industry first, with an expand the system globally by year end. Marcus Hand Editor, Seatrade Maritime News As it seeks to streamline the trade processes around container shipping Maersk is taking customs clearance online – initially in the seven European countries of Germany, France, Denmark, The Netherlands, Poland, United...

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China Customs Announces Measures To Quicken Cargo Clearance

The General Administration of Customs (GAC) announced new measures Thursday to expedite cargo clearance and cut administrative charges as part of the efforts to facilitate foreign trade. Source: Xinhua| 2018-09-27 18:33:27|Editor: Yurou Clearance documents subject to verification at ports will be reduced from 86 to 48 by Nov. 1, Zhang Guangzhi, a senior GAC official, told a press briefing. Procedures will also be improved, Zhang said, citing unified customs, frontier...

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Govt, Exporters To Talk Customs Issues Today

The consultative meeting will also discuss quality and cost of services provided by intermediaries in the customs environment. By Kirtika Suneja, ET Bureau NEW DELHI: A working group set up by the government is set to meet exporters of traditional goods such as leather, apparel, handicraft, carpets and seafood on Monday to discuss ways to resolve customs-related bottlenecks and improve the competitiveness of Indian exports.  The consultative meeting will also...

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Guarantee for customs clearance to be piloted in 2021-22

HÀ NỘI — The execution of guarantee for customs clearance will be piloted in 2021-22 in an effort to enhance trade facilitation, a customs official said. Update: April, 19/2019 – 08:37 Cargo containers are loaded from a ship at Tân Cảng- Thốt Nốt Port in the southern city of Cần Thơ. VNA/VNS Photo Danh Lam Mai Xuân Thành, Deputy Director of the General Department of Customs, said the project was in its...

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Headwinds towards East African regional integration: Will this time be different?

From the near pinnacle of a customs union, the old East African Community (EAC) came crashing down in 1977. Why? Political differences between the erstwhile leaders and perceptions around unfair distribution of the benefits and costs of regional integration halted the momentum. Through rebirth and enlargement, though, the new EAC has again risen to great heights as one of the most successful integration schemes on the African continent. Then...

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Etihad Rail, Abu Dhabi Customs sign joint partnership agreement to develop freight transport solutions

Mon 22-04-2019 20:48 PM Etihad Rail, the developer and operator of the UAE’s national railway network, has signed a Joint Partnership Agreement with the General Administration of Customs in Abu Dhabi, aimed at developing freight transport requirements, and enabling trains to travel more efficiently through the adoption of best practices and smart electronic technology. ABU DHABI, 22nd April, 2019 (WAM) H.H. Sheikh Theyab bin Mohamed bin Zayed Al Nahyan,...

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China’s key land port sees rising imports and exports in Q1

Horgos Port in northwest China’s Xinjiang Uygur Autonomous Region saw a rise in imports and exports in the first quarter of this year, local authorities said. Source: Xinhua| 2019-04-22 17:18:18|Editor: Shi Yinglun URUMQI, April 22 (Xinhua) – From January to March, imports and exports at this land port bordering Kazakhstan reached 8.65 million tonnes, an increase of 17.1 percent compared with the same period last year, mainly driven by imports,...

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