The North American Free Trade Agreement (NAFTA) came into being on the first day of 1994. While the US and Canada had been having free trade agreements that go back at least three decades culminating in the US-Canada Free Trade Agreement of January 1, 1989; NAFTA became a reality following Canada’s entry in 1991 into the bilateral talks between the US and Mexico, creating the trilateral FTA.
One of the primary objectives of the NAFTA was the elimination of a number of duties and restrictions, which were the stumbling block to free trade between the three neighbors of North America.
Duties on eligible goods traded among these North American markets are almost reduced or eliminated. NAFTA negotiated and created the Rules of Origin with the purpose of determining the eligibility for favorable treatment under the Agreement. The intention behind the Rules of Origin was to also exclude third countries from obtaining benefits by simply passing goods through North America.
NAFTA’s Rules of Origin are based on the 1988 US-Canada, by which FTA goods generally must undergo sufficient processing within North America if they have to merit a change in tariff classification.
NAFTA has chapters covering a host of aspects of trade, such as:
- Rules of Origin
- Protection of intellectual property rights
- Customs procedures
- Procedures for dispute settlement
- Trade in services
- Agriculture and sanitary and phytosanitary measures
- Government procurement
Understanding NAFTA is important for businesses in North America and beyond
For businesses in not just North America, but also Asia and Europe, a thorough grasp of the present and emerging NAFTA opportunities and challenges is essential for formulating a sound business strategy. If they have to gain advantage and exploit the huge North American market; they need to be aware of the way the regulations and laws concerning NAFTA operate.
All the aspects of the NAFTA will be explained in detail at a webinar that is being organized by Compliance4All, a leading provider of professional trainings for all the areas of regulatory compliance.
The speaker at this webinar is Douglas Cohen, Senior Manager, Global Trade and Contracts at Worldwide Trade and Legal Associates (WWTL), who has been at the forefront of international trade and transactions with positions in private law practice, US Department of Commerce, the European Union, IATA, and American Airlines, where he has developed significant expertise in import-export operations and compliance, global transactions, international negotiations, intellectual property, and cross-cultural business communication.
To benefit from the rich experience that Douglas brings into his areas of trade, please register for this webinar by visiting North American Free Trade Agreement (NAFTA)
Full explanation of Rules of Origin and the Certificate of Origin
At this webinar, Douglas will help import-exporters in understanding the NAFTA requirements. This understanding and the way the rules, especially the Rules of Origin, apply will help the participants to take advantage of NAFTA to reduce their costs. The way in which import-exporters classify their potential NAFTA products has major implications for their overall costs of doing business and their profit margin.
Douglas will show how participants can properly complete the NAFTA Certificate of Origin so that they gain advantages such as being able to receive duty free treatment and preventing errors that can result in severe civil/criminal penalties by each countries customs administration. He will also explain how to prepare for a NAFTA audit.
Douglas will cover the following areas at this webinar, which will be of great benefit to those who currently trade in North America, those considering trading within North America, compliance departments, import-export departments, Trade Consultants, Chambers of Commerce, Business Development Centers, and Foreign Trade Agencies:
- Fundamentals of NAFTA
- How do you take advantage of NAFTA to obtain duty free treatment for your NA trade?
- What is the intent of the NAFTA rules of origin?
- What is the applicable rule of origin in NAFTA?
- How do you obtain the certificate of origin?
- Recordkeeping Requirements
- Questionnaires, Verifications, Audits