FORBES: Most Exporters Don’t Take Advantage Of Free Trade Agreements, Survey Finds

11/10/2015

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Most companies involved in import and export don’t use free trade agreements that are available to them, according to a new survey by Thomson Reuters TRI +% and KPMG.

The reason they don’t use them is that complying with rules of origin and other requirements is so complicated and time-consuming that companies find it’s not worth the trouble or the risk of penalties for non-compliance.

“Not only can compliance with the regulations be burdensome and non-compliance result in costly penalties, but the fear of non-compliance can lead to savings opportunities not taken,” said James Carneiro, a Thomson Reuters trade expert. “The complexity for both importer and exporters in dealing with FTAs is already significant and bound to increase over time.”

 

To read full report, please click here