Only 30% of companies fully use all of the Free Trade Agreements (FTAs) available to them. It’s one of the many startling findings in the Thomson Reuters Global Trade Management survey, conducted in partnership with KPMG, exploring significant trends impacting international trade and supply chain professionals today.
Thomson Reuters Tax executive and Global Trade expert Taneli Ruda speaks about why companies underutilize FTA’s – and how your organization should be making the most of them.
Don’t leave money on the table: How to make the most of Free Trade Agreements
“Even large companies tend to underutilize FTAs. Sometimes this is driven by lack of knowledge, but more often by concerns about the difficulty of compliance and fear of penalties. With more FTAs coming on stream every year, not using FTAs is going to mean a major competitive disadvantage.” Hoon Sung, head of FTA, Thomson Reuters, ONESOURCE Global Trade
Thrive Globally. The rebalancing of global markets brings new possibilities, new ways of finding customers, and new sources of growth. But how do you identify where the right opportunities are for your business? Thomson Reuters has created an in-depth resource providing a clear path forward, illuminated by trusted answers that can help you not just survive, but thrive in the new global reality.
ONESOURCE® Global Trade is an all in one trade management solution. Keep track of fluctuating regulations to ensure you remain export and import compliant, and integrate your existing Enterprise Resource Planning (ERP) software, including modules for import, export, special programs, FTAs and more.