TNETS Customs and Trade Management News


Bracing for Brexit: “Diverse and secure supply chain” is vital for mitigating no-deal difficulties, says Ulrick & Short

By Benjamin Ferrer Aug 6 2019 / foodingredientsfirst. UK-based ingredients manufacturer Ulrick & Short has underscored the need for a diversified supply chain in contingency planning for a potential “no-deal” Brexit. The company is currently investing in the construction of a Netherlands-based facility, which will act as a trading and technical base for EU customers in the event of a no-deal. An overall lack of clarity from government is...

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Coastal hub upgraded in trade zone expansion

By Li Xinran Aug 6 2019 / Shine Shanghai’s free trade zone is being expanded to include Lingang on the city’s southeast coast, where Tesla is building its first overseas factory and the world’s largest planetarium is under construction. The Ministry of Commerce and city officials on Tuesday formally announced that the China (Shanghai) Pilot Free Trade Zone will expand from 120 square kilometers to 240 square kilometers. It...

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China plans to drop all duties at Shanghai Free Trade Zone

By Keith Zhai Aug 5 2019 / Reuters Business News SINGAPORE (Reuters) – China is planning a pilot project to drop all duties and ease procedures at its Shanghai Free Trade Zone, three people familiar with the matter said, as Beijing looks to position itself as a leader in promoting free trade amid its grinding trade war with Washington. The plan, which could be announced as soon as this...

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Ensuring synchronous post-customs clearance inspections

By THUAN HUU Aug 5 2019 / Nhandan NDO – Post-customs clearance inspection is an important activity of customs agencies in order to properly control export-import activities, prevent smuggling and trade fraud, and help prevent revenue losses for the government. In the first half of 2019, customs agencies conducted more than 1,700 post-clearance inspections and imposed total fines of VND838 billion (US$36 million), collecting total revenues of VND927.8 billion...

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DSV well positioned to manage this month’s Panalpina takeover

By Will Waters Aug 5 2019 / Lloyd’s Despite market slowdown, Danish freight and logistics group’s results last week show its ‘house is in order’ ahead of major merger with Swiss forwarder, expected around 19 August, says analyst Jefferies. The latest financial results of Danish freight and logistics group DSV, published last week, show that it is well positioned to manage its takeover of Swiss forwarder Panalpina, expected around...

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Digitization key to forwarders ‘reaching the next level’

By Mike King Aug 5 2019 / Lloyd’s Loading List Forwarders with aspirations to be modern businesses must embrace the services and efficiencies available via digital platforms, according to Wolfgang Lehmacher, leading logistics consultant and the former head of Supply Chain and Transport Industries at the World Economic Forum in Geneva and New York. “Performance and profitability in forwarding depends on capacity availability, capacity purchasing prices and utilization, operational...

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Plastic Waste Piles Up as Indonesia’s Import Crackdown Backfires

By Viriya Singgih Aug 2 2019 / Bloomberg Indonesia’s crackdown on waste imports is backfiring with its plastic recycling industry in disarray and hundreds of containers of used materials clogging its ports. Authorities ordered close scrutiny of trash imports after random inspections in May led to the discovery of more than 80 containers of illegal waste from the U.S., Australia and Europe. About 1,000 containers are now waiting for...

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Boardroom Brexit 2 August

By Paul Hardy/ Richard Bonnar/ Valerijus Ostrovskis Aug 2 2019 / Mondaq Welcome to the latest issue of Boardroom Brexit, covering developments since the election of Boris Johnson as leader of the Conservative party and, as a consequence, his replacement of Theresa May as the UK’s new prime minister. In this issue we: outline the new government’s Brexit strategy; run through the possible outcomes to the Brexit negotiations, and...

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South Korea looks to Asean for help in its ‘trade war’ with Japan

Aug 1 2019 / TODAY HONG KONG — South Korea is planning to appeal for help from its regional partners in its latest bid to convince Japan to roll back export restrictions amid an escalating trade dispute between the two countries. At a series of ministerial gatherings among representatives of Japan, South Korea and the 10-member Association of Southeast Asian Nations (Asean) set to take place in Bangkok next...

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