Richard Mojica participated in Risk and Compliance Magazine's Hot Topic discussion panel on Developing and Managing a Global Customs Compliance Program, and commented on the impact of legal and regulatory developments on customs compliance and strategies for companies to employ in order to have the most effective programs. "It is more challenging than ever to comply with the many and complex laws which apply to the import and export of merchandise around the world. Against that backdrop, the value of having an effective, in-house trade compliance program is hard to dispute," Mojica said.
When taking advantage of multiple trading agreements, importers and exporters should ensure they do not forego any negotiated benefits. "The key to taking full advantage of FTAs [free trade agreements] is to understand the rules of origin used to determine whether a product qualities for preferential treatment," he said. "Navigating the FTA-specific rules of origin is no easy task, but companies that understand those rules tend to avoid common errors."