As 2015 draws to a close and we ring in the new year, let’s take a moment to consider the year in review.

 

Regulatory updates

In terms of regulatory updates, 2015 experienced a record high. In September alone, the Integration Point system updated 108,911 denied party changes — primarily to the System for Award Management, SDN and Blocked Persons, and INTERPOL Wanted Fugitives List.

Between January and December of this year, Integration Point has accounted for:

  • 2,476 updates to tariff schedules, anti-dumping data, and binding rulings
  • 1,951,584 updates to HS numbers
  • 340,866 updates to denied party screening entities
  • 22,507 updates to export control numbers

That’s over 2 million updates in these categories alone.

 

Free trade agreements

2015 has also been a big year for free trade agreements (FTAs), with the entire world watching agreements such as the Trans-Pacific Partnership (TPP), Regional Comprehensive Economic Partnership (RCEP) and Transatlantic Trade and Investment Partnership (T-TIP).

So far this year, a total of 15 FTAs have been signed, including:

  • Colombia - Korea
  • Vietnam - Russia
  • Korea - China
  • European Union (EU) - Singapore
  • Poland - Georgia
  • Japan - Mongolia
  • Israel - Panama
  • Canada - Ukraine
  • Pakistan - Turkey
  • United Arab Emirates - Switzerland
  • New Zealand - Korea
  • Korea - Vietnam
  • Peru - Honduras
  • Australia - China
  • EU - Vietnam

And 7 FTAs have entered into force, which are listed below with the date of entry:

 

Automated Commercial Environment

Last but not least – how could we possibly leave out the Automated Commercial Environment (ACE)? 2015 experienced major milestones with the transition to ACE.

In fact, Integration Point was the first to file Type 06 Entries and Entry Summaries for foreign-trade zones (FTZ) in ACE, which were made available on October 17.

On September 24, Integration Point also held a webcast to review the amended November 1 filing deadline in ACE. If you missed that webcast, you can still view it on-demand here. For the following Q&A segment, refer to the Global Trade News blog series for answers to your questions about ACE preparedness.

As always, continue to refer to CBP.gov for their up-to-date deployment schedule.

 

What’s in store for 2016?

With predictions from the World Trade Organization and others, it looks like we will continue to see a positive, yet small, growth in global trade during 2016. That growth will depend on several key factors, including major regional trade agreements, China’s ability to regain stability on the export front, and the successful implementation of single windows in countries around the globe.

Global Trade News and Integration Point will be here for it all, offering more webcasts, white papers, blog posts, and resources on global trade compliance for 2016.

Until then, we wish you a Happy New Year!