News, trends and best practices in the import/export and Foreign Trade Zone businesses
Advantages of Using a Foreign Trade Zone: Country-of-Origin Labeling
by Zachary Finnegan, International Trade Advisor
This post is the second in a series of posts about the benefits of doing business in a Foreign Trade Zone. Western New York Foreign Trade Zone Operators manages the Foreign Trade Zone in Lackawanna, NY, ten minutes from the Peace Bridge between the U.S. and Canada.
If you’re an importer into the U.S., you’ve often dealt with Country-of-Origin labeling, and know that the rules surrounding the process are often changing. One of the benefits of utilizing a U.S. Foreign Trade Zone is that merchandise being imported into the country can be labeled right in the FTZ, properly.
Why is this an advantage? Penalties and fines for improper marking on goods entering the U.S. can be steep. When you work with WNYFTZ, you’re dealing with experts who stay up-to-date on trade regulations such as Country-of-Origin labeling, minimizing your chances of your in-house personnel – who may be in another country or responsible for shipping exports to multiple countries with diverse rules – making a mistake.
In addition, these labeling services can shift some in-house process time at your facility to the FTZ facility closer to your customer or end-user, streamlining your supply chain in a way that you can have comfort that will yield the proper end result.
There are many benefits to using a Foreign Trade Zone. For easy reference, check out our web site at www.wnyftz.com, and then give us a call at (716) 823-2142, and let us walk you through how WNYFTZ can benefit you specifically.