Free Trade Agreements a global perspective March 2015 Agenda Part - - PowerPoint PPT Presentation

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Free Trade Agreements a global perspective March 2015 Agenda Part - - PowerPoint PPT Presentation

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www.pwc.com/ch Free Trade Agreements a global perspective March 2015 Agenda Part 1 Introduction by Ambassador Thomas Kupfer Part 2 European Overview Part 3 Free Trade Agreement an overview Part 4 Practical and operational challenges

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Free Trade Agreements – a global perspective

March 2015

www.pwc.com/ch

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Agenda

Part 1 Introduction by Ambassador Thomas Kupfer Part 2 European Overview Part 3 Free Trade Agreement – an overview Part 4 Practical and operational challenges in Free Trade Agreements Part 5 Future Free Trade Agreements Part 6 Q&A - Closing

2

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Introduction by Ambassador Thomas Kupfer

3 3 March 2015 Free Trade Agreements

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European Overview

4 3 March 2015 Free Trade Agreements

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Estonia France Germany Greece Italy Luxembourg Portugal Spain Switzerland US

  • 20

40 60 80 100 120 140 160 180 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 % of GDP Austria Belgium Cyprus Estonia Finland France Germany Greece Ireland Italy Luxembourg Malta Netherlands Portugal Slovak Republic Slovenia Spain Switzerland US

Public debt as % of GDP

Source: IMF

Evolution of the Euro crisis

stimulation Public debt as % of GDP Late 2009: Increasing government debt Early 2010: Intensified concerns in certain European countries May-2010: 1st Greece bail-out package (€ 100bn) Creation of European Financial Stability Facility (EFSF) Nov-2010: Ireland bail-out package (€67.5bn) Jan- 2011: Created European Financial Stability Mechanism (EFSM) May-2011: Portugal bail-out package (€70bn) Oct-2011: 2nd Greece bail-out package (€130bn 50% write-off Greek debt €100bn) Jun-2012: Spain bail-out package (€100bn) Mid-2013: Replace EFSF & EFSM with European Stability Mechanism (EFM)

Free Trade Agreements 3 March 2015 5

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  • 1.0
  • 0.5

0.0 0.5 1.0 1.5 2.0 2.5 3.0 3.5 4.0 2000 - 05 2006 - 09 2010 2011 2012 2013 2014 2015 2016 2017 % GDP Growth EU UK US

EU Growth forecast

Sources: European Commission, IMF, World Bank, Oanda, Bloomberg, Reuters,Scotiabank, PwC Analysis

European Union % GDP Growth, 2000 - 17

2014 Slow recovery: Unfinished macroeconomic adjustment Slow implementation of reforms Failure in recovery of investments 2015 – 17 Brighter outlook: Sharp decline in oil prices Depreciation of the Euro ECB’s QE easing and EU Investment Plan

Stimulating Growth Restricting Growth Key Risks

  • Decreasing costs for input factors

(e.g. oil, metals)

  • Weakened Euro increasing

competitiveness of EU products and services

  • Increasing consumers purchasing power

stimulating private consumption

  • ECB quantitative easing and EU

economic programs stimulating investments and demand

  • Lack of economic and social reforms of

EU member states weakens competitiveness

  • Uncertainty with outcome Ukraine /

Russia crisis (Sanctions)

  • Countries debts and cost cutting

programs negatively impact domestic growth

  • Unemployment rate and high economic

uncertainty cause social unrests and prevent long-term investments

  • Greek’s EURO exit and bankruptcy
  • UK’s EU exit and cancellation of

agreements

  • Economic sanctions and energy supply

disruptions relating to the Ukraine / Russia conflict

  • Armed conflicts between EU/US and

Russia

  • Increasing nationalisms in the member

states with negative impacts on workforce mobility and availability 3 March 2015 6

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Over the next 3 years the EUR is expected to meet the USD value

Sources: European Commission, IMF, World Bank, Oanda, Bloomberg, Reuters,Scotiabank, PwC Analysis

US$/Euro Exchange Rate, 2010 - 17

0.70 0.75 0.78 0.75 0.73 0.86 0.95 1.00 0.0 0.2 0.4 0.6 0.8 1.0 1.2 Jan-10 Jan-11 Jan-12 Jan-13 Jan-14 Jan-15 Jan-16 Jan-17 Euro

2014 - 15 18% depreciation against US$ Deviation of US monetary policy from EU 2015 – 17 Brighter outlook: Improve price competitiveness of European companies Further hike inflation in 2016 3 March 2015 7

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The impact of a Grexit on the EU growth significantly decreased in the last two years

  • 10
  • 8
  • 6
  • 4
  • 2

2 4 6 2000-05 2006-09 2010 2011 2012 2013 2014 2015 2016 2017 % GDP Growth EU Greece Sources: European Commission, IMF, World Bank, IEA, ING, Bloomberg, Reuters, Independent UK, PwC Analysis

Greece

148.3 171.3 156.9 174.9 176.3 170.2 159.2 152.0 0.0 20.0 40.0 60.0 80.0 100.0 120.0 140.0 160.0 180.0 200.0 2010 2011 2012 2013 2014 2015 2016 2017 % of GDP Govt Gross Debt Total Govt Revenue 2014 Rebound to growth: Rising private consumption Strong growth in exports, tourism & shipping 2015 - 17: Implementation of agreed structural reforms Exports growth due to euro depreciation

Assessment of Grexit:

  • 20 – 25% chance of Grexit in 2015
  • EU: Minimal impact - 2% share of EU 2014 GDP
  • Greece:
  • Restore wealth level by mid 2020s without Grexit
  • Huge growth in inward investments with Grexit

3 March 2015 8

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The UK is significantly contributing to the EU growth, however an exit would reduce the UK’s ability to influence and serve EU markets

Sources: European Commission, IMF, World Bank, IEA, ING, Bloomberg, Reuters, Independent UK, PwC Analysis

United Kingdom

  • 1.0
  • 0.5

0.0 0.5 1.0 1.5 2.0 2.5 3.0 3.5 2000-05 2006-09 2010 2011 2012 2013 2014 2015 2016 2017 % GDP Growth UK EU 2014 Solid growth: Strong domestic demand Formation of gross fixed capital 2015 - 17: Reduction in oil prices Buoyant private consumption Continued growth in investment

  • 1.0
  • 0.5

0.0 0.5 1.0 1.5 2.0 2.5 3.0 3.5 2000-05 2006-09 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 % GDP Growth UK leaves EU EU

Assessment of Brexit:

  • EU: Significant impact - 9% of EU 2014 GDP
  • UK:
  • Spike in inflation, 2.8% by 2018
  • Cuts in economic growth
  • Quicken formation of FTA agreements

Impact of Brexit

3 March 2015 9

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2014 - 15 2015 – 17 Outlook Severely impacted by global decline in oil prices 80% depreciation of Rouble against US$ Retaliatory sanctions hike inflation Dependent on geopolitical tensions & sanctions If low oil prices continue:

  • Huge pressure on the budget, limiting GDP growth
  • Large foreign currency reserve funds tides it through the short-term if sanctions are

removed 79.0 104.0 105.0 104.1 53.2 56.9 60.8 65.0 69.4 74.1 96.2 56.7 63.9 68.0 70.9 72.1 72.6 0.0 20.0 40.0 60.0 80.0 100.0 120.0 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 US$/barrel Historical World Bank IMF

Russia sharp slowdown spills over to CIS

Sources: IMF, World Bank, OPEC, Oanda, Bloomberg, Reuters, Forbes, Scotiabank, PwC analysis

CIS, Ukraine & Russia % GDP Growth, 2000 - 17

  • 10.0
  • 5.0

0.0 5.0 10.0 2000 - 05 2006 - 09 2010 2011 2012 2013 2014 2015 2016 2017 % GDP Growth Russia Ukraine CIS 2014 Sharp deceleration: Geopolitcal tensions – Russia & Ukraine Spillovers from weakness in Russia & Europe 2015 – 17 Moderate recovery: Russia & Ukraine: Oct 14 Ceasefire agreement Modest recovery in Euro area demand Ukraine: Uncertain outlook, 2016-17 recovery dependent

  • n relief of geopolitical tensions

29.9 29.2 29.8 30.2 35.2 63.5 63.0 60.0 0.0 10.0 20.0 30.0 40.0 50.0 60.0 70.0 Jan-10 Jan-11 Jan-12 Jan-13 Jan-14 Jan-15 Jan-16 Jan-17 Rouble

World Crude Oil Prices, 2010 - 20 US$/ Rouble Exchange Rate, 2010 - 17 Russia 3 March 2015 10

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Risks to consider when investing in EU

Key Countries Trend / Topic Consequences PwC Publications

GREXIT

  • Recession in Greece and possibly Eurozone
  • Increased spread for other Mediterranean countries, leading

to more austerity measures and a decrease in governmental spending

  • Interview with Andreas Riris,

PwC Greece Partner BREXIT

  • UK loses access to EU markets, making it more difficult for

UK firms to sell goods to continental Europe

  • 2015 Predictions for UK

economy

  • UK Economic Outlook, Nov

2014 EUR/USD

  • Investments in Europe would become less valuable in home

currency, however, could pay off as companies Ukraine crisis

  • EU and US trade embargo against Russia renders

investments in Russia less valuable and hits companies exporting to Russia hard

  • Exports to and production in Ukraine difficult due to ‚civil

war‘

  • Meeting the challenges of crisis

in Ukraine Surge in popularity of nationalist parties

  • Danger of reinstatement of border controls and limits to

freedom of movement or residence can be the result of nationalist movements in EU countries Free Trade Agreements 3 March 2015 11

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What does that all mean to your business?

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CEOs are more optimistic about mature markets this year

Q: Which countries, excluding the one in which you are based, do you consider most important for your overall growth prospects over the next 12 months? Source: PwC 18th Annual Global CEO Survey

2015 2014 2015 2014

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Country analysis should be reviewed regularly to avoid surprises

Average real wages % change p.a. Average wage per month (US = 100)

“Five years ago, if you asked me the best place to set up a factory, first would be China, second would be China, and third would be China”, he says. “Today it’s very different.”

Harry Lee, Chief Executive Officer, Tal Apparel, Hong Kong garment maker Source: The Economist Source: PwC, ‘Global wage projections to 2030’ (September 2013

“The utopia for one-stop sourcing for quality and low price has been China … but utopias never last”

Matt Rubel, Chief Executive Officer, Collective Brands Philippines India Mexico China Poland South Africa Turkey Spain UK US 20 40 60 80 100 2013 2030

  • 6
  • 4
  • 2

2 4 6 8 10 12 14 2008 2009 2010 2011 2012 2013 China India Indonesia Malaysia Philippines Thailand Vietnam

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Europe is the largest and most accessible market

Private consumption at current market exchange rates

Source: Oxford Economics, PwC the 15th annual global CEO survey 2012

European is perceived to be the easiest market for export

0% 20% 40% 60% 80% 100% Sub-Saharan Africa China Russia and other CIS Middle East and North Africa Japan Australia and other Oceania Latin America Rest of Asia US EU Very difficult Somewhat difficult Not difficult at all Source: Oxford Economics

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Europe’s attractiveness to Chinese companies …..

  • Global and luxury brands and

advanced technology

  • Improve manufacturing competences

and capabilities

  • Deliver value for money - quality
  • utput offset start-up costs

Chinese FDI in EU-27 Chinese direct investments in EU-27 vs. US Chinese direct investments in EU-27 by industry

Automotive 12% Chemicals 17% Communica- tions 6% Natural resources 8% Electronics 6% Machinery 5% Other 18% Transportation 6% Metal mining & processing 6% Utilities 16%

Are European brands a steal?

  • Set up operations in regions with large

and strong domestic demand

  • Stability and transparency of political,

legal and regulatory environment

  • Quality and diversity of the labour

force

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European brands are a steal!

Eurozone confidence heat map

Source: PwC Global Economy Watch

“The kind of assets that Chinese companies look for overseas has also begun to shift, from natural resources and energy, to an emerging appetite for consumer brands”

Squire Sanders

Opportunities in brand and innovation base acquisitions as well as market access

Free Trade Agreements 3 March 2015 17

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Europe – a truly diversified continent

Eurozone & EU countries EU countries Other European countries 2011 average annual salary in constant USD

Note: China average wage in 2010 Source: OCED, Romania National Institute of Statistics, State Statistics Services of Ukraine, Turkish Statistical Institute

Average wage of selected Asian countries 20,273 United Kingdom Spain Portugal France Germany Italy Hungary Sweden Poland 50,366 53,069 46,984 22,549 37,583 39,112 47,704 13,811 14,177 Czech Republic 16,922 54,459 81,475 Norway Finland Ireland 66,822 Estonia 14,955 Greece 28,434 7,912 3,838 23,671 8,775 Russia Ukraine Bulgaria Romania Turkey China 5'747 Malaysia 5'824 Philippines 2'246 Vietnam 1'152 Indonesia 1'089 India 943

3 March 2015 18

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Germany

2'131

United

Kingdom 1'756 France 1'506 Italy 1'151 Spain 717

Netherlands

446

Switzerland

301 Belgium 272

Poland

262

Austria

231 Denmark 171

Finland

150

Greece

143

Portugal

123

Ireland

123

Czech

Republic 83

Hungary

57 15'000 20'000 25'000 30'000 35'000 40'000 0.0% 0.5% 1.0% 1.5% 2.0% 2.5% 3.0% 3.5% 4.0% 4.5% 2011 GDP per capita GDP CAGR% (2000 - 2011)

High potential markets Eurozone average GDP CAGR 1.2%

Different characteristics of individual countries, driving different value propositions

Mercedes-Benz C-Class EUR 35,000 Dacia Sandero EUR 9,000

Source: Eurostat

Switzerland as a pilot market for Europe

  • Diverse cultures
  • Diverse languages
  • High purchasing power
  • Brand awareness

Free Trade Agreements 3 March 2015 19

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1000km

Switzerland’s relevance to your European strategy

London 1:40 Paris 1:15 Berlin 1:25 Rome 1:30 Barcelona 1:40 Vienna 1:20 Warsaw 1:40 Prague 1:15

  • Three languages and cultures in one country:

a multi-cultural segmented consumer market for product research, providing pilot markets for the 3 largest EU neighbour markets (jointly account for 67% GDP of Eurozone and nearly 50% GDP of EU)

  • EU‘s biggest trading partner
  • Heart of Europe – allowing efficient business

travels to visit your customers and business partners

From Zurich From Dublin

Paris 1:15 1:45 Berlin 1:25 2:15 Rome 1:30 3:00 London 1:40 1:25 Barcelona 1:40 3:25 Prague 1:15 2:40 Warsaw 1:40 3:00 Comparison of flight time

500km

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Free Trade Agreements – An Overview

21 3 March 2015 Free Trade Agreements

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What does a Free Trade Agreement cover?

  • Fostering Trade in Goods
  • Primary focus in duty reductions
  • Trade related aspects
  • Reduction of non-tariff barriers to trade (e.g. procedures)
  • Geographical origin and intellectual property rights
  • Other topics
  • Trade in services, environment protection, etc.

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Different topics included to cover individual needs of contracting parties

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Free Trade Agreements: The Spaghetti Bowl Effect

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Quelle: WTO Discussion Papers No. 12 “The Changing Landscape of Regional Trade Agreements: 2006 Update”, via www.wcoomd.org

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Free Trade Agreement – an overview

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Figures according to World Trade Organization as of 8 January 2015

446

259

Agreements notified Agreements in force

Are they the same? Bilateral and multilateral agreements Asymmetric rules possible (e.g. different duty reduction on each side) Different rules in each agreement possible

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Implications of a FTA for a production company

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Business model alignment to build up presence in new markets and to gain customer base and to benefit from the geographic location, competencies, regulatory environment and

  • ther aspects.

In addition to the customs benefits provided in the FTA, a tax-optimized business model can be implemented taking into account the entire value chain which allows you to build an operationally robust business set-up that simultaneously allows you to manage your tax burden properly and in a suitable manner

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Value Chain Transformation

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Chinese Manufacturer EU Customer Swiss Trader No duties under the Free Trade Agreement Standard duty rates Textiles and textile articles: between 0,0% and 12,0% Footwear and the like: between 3,0% and 17,0% Chinese Manufacturer EU Customer Swiss Manufacturer No duties under the China – Swiss Free Trade Agreement No duties under the EU – Swiss Free Trade Agreement Semi-finished goods Finished goods

Transforming the Value Chain

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Customs Tariff Classification Important aspect for the customs handling

Example: Coffee Machine

  • For domestic use: 8516.7100
  • Usually commercial deployment: 8419.8100
  • Parts thereof?
  • Water heater / immersion heaters: 8516.10..

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Imports China under the FTA with Switzerland

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Impacts of currency exchange fluctuations on qualification

Exchange rate 1.20 Exchange rate 1.00 Raw Material EU (in EUR) 4’500 4’500 Raw Material EU (in CHF) 5’400 4’500 Raw material CH & value add 2’600 2’600 Profit 2’000 2’000 Ex-works price 10’000 9’100 No Swiss Origin Swiss Origin Freight costs 1’000 1’000 Customs duties China 32.0% / 3’520 19.2% / 1’939 Total costs procurement 14’520 12’039 Advantage 2’481 (17.1%)

28 Free Trade Agreements 3 March 2015

Coffee machine / Rule of Origin Swiss China FTA: Non originating material <50%

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How can a company prepare?

Building up know-how to be familiarised to apply the different rules Creating awareness amongst different departments Customs responsible or FTA champion Including free trade topic in the development of new products or in the purchasing and sales department Customs tariff classification Automated issuing of

  • rigin confirmations

Origin calculation Regular updates (e.g. new agreements, changed rules

People IT Processes

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Practical and operational challenges in FTAs

30 3 March 2015 Free Trade Agreements

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It’s all about interpretation… part 1

  • Company X gets a Certificate of Origin (Form D) under ATIGA stamped by

Department of Foreign Trade in Province A in Thailand to certify preferential

  • rigin for goods shipped to Indonesia to its client Company Y.
  • The port of loading of the goods is located in Province B in Thailand.
  • Indonesia Customs Authority requests a retroactive verification to the

Thailand Authorities.

  • Reason obtained: The Certificate of Origin has not been stamped by the

Authority located in the same Province as the port of loading.

  • Thailand Authorities never responded to the request.
  • As a consequence, Indonesia Authority rejects Certificate of Origin and the

preferential treatment of the goods at importation.

  • Company Y had to pay duty.

31 Free Trade Agreements 3 March 2015

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Multiple party transactions - Back-to-Back (B2B)

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  • Invoicing flow is different than physical flow of goods
  • To suit current business model: Usually manufacturing entity in one location

(cost-effectiveness as location consideration) and HQ in another (tax-

  • ptimisation as location consideration)
  • Reason? Price-Masking: End-customers should not know the actual cost
  • f manufacturing (HQ usually charge a mark-up)
  • Rules of Origin: FTAs are based on archaic business model where the seller

and manufacturer are the same, or at least located in the same country

  • What are the practical issues?

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Third Party Customer Third Party Manufacturer / Supplier

Third Party Invoicing

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Flow of goods Flow of invoices

China Singapore Company B Regional HQ USD $100 Certificate of Origin Malaysia USD $300

Trade Agreement: ASEAN – China FTA

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ACFTA – FORM E

34 Free Trade Agreements 3 March 2015

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Third Party Customer Third Party Manufacturer / Supplier

Third Party Invoicing – Back-to-Back CoO (MC)

Flow of goods Flow of invoices

China Singapore Company B Regional HQ USD $100 Certificate of Origin Malaysia USD $300

Trade Agreement: ASEAN – China FTA

CoO Movement Certificate

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(d) The product which is to be re-exported using MC shall be under control of the Customs Authority of the intermediate Party. The products shall not undergo any further processing in the intermediate Party, except for repacking and logistics activities consistent with Rule 8 of the Rules of Origin for the ACFTA Extracted from Rule 12 of the Revised OCP for the rules of origin of the ACFTA

Free Trade Agreements 3 March 2015

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ACFTA – FORM E

36 Free Trade Agreements 3 March 2015

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Last but not least, it’s all about interpretation… part 2

  • Third party invoicing
  • Does it mean it is limited to 3 parties?
  • Or does it refer to multiple invoicing parties as a technical term?
  • Some of the importing countries in ASEAN do understand under third party

invoicing that only 3 parties can be involved in the value chain. If there is a fourth party involved, or more, questions might be raised by the importing Authority and as a consequence, an interruption of the supply chain.

  • In a worst case scenario, Certificate of Origin may be rejected.

37 Free Trade Agreements 3 March 2015

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Future Free Trade Agreements

38 3 March 2015 Free Trade Agreements

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Global Trends

  • From local to regional to worldwide
  • “Distance” between trading partners becomes bigger, through

FTAs it becomes closer

  • Regional Blocks
  • E.g. ASEAN, AEC, EU, NAFTA, MERCOSUR
  • Race to establish template for future trade agreements

39 3 March 2015 Free Trade Agreements

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Trans-Pacific Partnership (TPP)

  • Proposed regional regulatory and

investment treaty

  • Market access
  • Recognising development of production

and supply chains among TPP members

  • Intellectual property provision
  • Investor-state arbitration
  • Postponed from March to April 2015

40 3 March 2015 Free Trade Agreements

Members 2005: Brunei, Chile, New Zealand, Singapore 2008: United States, Australia, Peru, Vietnam Malaysia (2010); Mexico, Canada (2012); Japan (2013) Potential members: China, Korea (announced interest in 2013), Taiwan, Philippines, Laos, India, Colombia, Indonesia, Cambodia, Bangladesh

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Transatlantic Trade and Investment Partnership (TTIP)

  • Market access
  • Including Trade in Service, Investment

and E-Commerce

  • Technical Barriers to Trade
  • Specific sectoral agreements (e.g.

textiles, chemicals, cars)

  • Broader rules (e.g. public procurement,

intellectual property, competition policy)

41 3 March 2015 Free Trade Agreements

Members European Union and United States Potential members: Albania, Iceland, The former Yugoslav Republic

  • f Macedonia,

Montenegro, Serbia, Turkey (EU accession candidates) TTIP indicated to be open for other members once in force

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Regional Comprehensive Economic Partnership (RCEP)

  • Broaden and deepen ASEAN+1 pacts
  • Minimization of FTAs “spaghetti bowl”

problems thanks to harmonization of Rules of Origin and faciliation

  • RCEP may conflict with TPP
  • 7 rounds of negotiation, outcome less
  • ptimistic
  • Issues:
  • India, South Korea and China to open
  • nly 40% of their tariff lines for benefits
  • India suggested that concessions may

vary depending the member country

42 3 March 2015 Free Trade Agreements

Members ASEAN +6 (Australia, China, India, Japan, Korea, New Zealand)

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ASEAN Economic Community (AEC)

  • 4 pillars: (1) Single Market &

Production base, (2) Competitive Economic Region, (3) Equitable Economic development, (4) Integration into the global Economy

  • Gradual harmonisation of certain

policies and gradual removal of restrictive policies

  • It is not an EU – no customs union, no

common external tariff, not a political union, customs borders will remain

43 3 March 2015 Free Trade Agreements

Members ASEAN  “Implementation date” 31 December 2015

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Looking ahead

  • More Free Trade Agreements
  • Spanning global network
  • Utilising benefits in global supply chains
  • Interplay between purchase, production and sales
  • Holistic approach
  • Duty benefits vs. administrative burden
  • Extended costs and savings opportunities

44 3 March 2015 Free Trade Agreements

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Q&A - Closing

45 3 March 2015 Free Trade Agreements

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Q&A - Closing

March 2015 46

Felix Sutter Partner Risk Assurance Services, Head Asia Desk PricewaterhouseCoopers AG, Zurich Phone: +41 58 792 28 20 felix.sutter@ch.pwc.com Simeon L. Probst Director Customs & VAT PricewaterhouseCoopers AG, Basel Phone: ++41 58 792 5351 simeon.probst@ch.pwc.com Michel Anliker Manager Customs PwC WMS Asia, Singapore Phone: ++65 6236 7307 michel.anliker@sg.pwc.com

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Customs & International Trade Compliance in Asia Pacific - doing the groundwork

Why should you attend?

Any professional involved in the cross –border buying or selling of goods is touched by trade compliance considerations. Whether employed in supply chain operations, planning, procurement, or finance, the failure to understand and plan around import/export regulatory requirements can lead to unanticipated costs and a lot of wasted time. Product delays, stock-

  • uts, emergency shipments, additional warehousing costs, and customs penalties are all

common consequences of compliance failures. Many businesses operating in Asia Pacific choose to have their logistics service provider (“LSP”) handle customs formalities at overseas borders; relying on their operational knowledge and relationships with customs officials. However LSPs often lack technical training and the legal responsibility for customs compliance remains with the owner of the

  • goods. Most customs authorities expect informed oversight over LSPs and customs brokers.

To equip Singapore based business professionals with the ability to take a more informed and pro-active role in the management of customs and trade risk in Asia Pacific, we will cover the following topics during this two-day workshop:

  • Recognising and monitoring customs and trade “hot spots” throughout the supply chain
  • Introduction to customs valuation, classification, and FTA compliance
  • Understanding the trade compliance roles and responsibilities of the various business

functions, LSP, and customs authorities

  • Essentials of customs rules and procedures in Asia Pacific
  • Identifying opportunities for duty savings and cash-flow improvement across the region

Expand your horizons with customs and international trade know-how

Workshop details

Date: 25 & 26 March 2015 Time: 9.00am to 5.00pm Venue: 8 Cross Street, PWC Building, Level 17, Singapore 048424

Fees PwC Clients, Alumni & Public: S$980 Fees includes 7% GST, refreshments and workshop kit. Who should attend?

Sales, procurement, logistics, supply chain planners, and legal and finance professionals who wish to build their knowledge of cross- border trade compliance to better manage business risk and identify trade savings

  • pportunities

PwC’s Academy