Lenoir County Leaders Work to Better Economic Partnership with South Korea

As the global recession continues to plague economies at home and abroad, local and state officials are working to establish better working relationships with internationanl markets.

The partnership between North Carolina and South Korean markets has improved in recent years. The state exports tobacco, cotton and corn to South Korea, which has enabled NC to become South Korea's 11th largest exporter of goods and services this year. The state exported nearly $575 million worth of goods to South Korea last year.

Eastern North Carolina's Global TransPark is encouraged to be evaluated as a place to ship pork products from North Carolina to South Korea. The Global TransPark is one of seven approved general purpose Foreign-Trade Zones in the state and Lenoir County is one of only six locations in the state that has been designated an "Export Ready" site by the NC Department of Commerce. International markets are using the trade zones to ship their goods without charge to other ports nationwide.

To view the full article, please visit ENC Today.

Expansion Sought for Another Kansas City Foreign-Trade Zone

An application has been submitted requesting the authority to expand Kansas City's Foreign-Trade Zone #17. It was formally filed to the Foreign-Trade Zones Board only 5 days after the submitted request for changes to FTZ #15.

The applicant is requesting authority to expand the general-purpose zone to include the Midwest Commerce Center, located at 17159 Mercury Street in Gardner, Kansas. The proposed new site would be designated Site 8 and will be used for warehousing, storage, and distribution activities. No specific manufacturing requests are being made at this time.

The FTZ Board is inviting public comment on the application. Submissions shall be addressed to the Board's Executive Secretary. The closing period for their receipt is June 19, 2009.

For more details on the request for expansion of FTZ #17 in Kansas City, please visit Import Industry News.

Closing the Loop with Entry Visibility

Managing the import process requires visibility into the entire importing process especially when it comes to entry validation. Companies need to be able to validate 100% of their entries 100% of the time to ensure compliance with regulatory requirements around the globe. But how can companies validate entries without spending an inordinate amount of time and resources?

The white paper “Closing the Loop with Entry Visibility” does an excellent job of explaining the challenges companies face in their importing process, how closing the loop by validating entries and facilitating a post-entry amendment process can greatly increase compliance as well as provide bottom-line savings.

Click here to download this entry visibility white paper and learn how your organization can start closing the loop and saving money.

Aventure Aviation Named Top Exporter in Southeast

Aventure Aviation, a supplier of aircraft parts headquartered in Peachtree City, has been selected by the US Small Business Administration as the winner of the 2009 Exporter of the Year for Georgia and Exporter of the Year for the Southeast US.

The Exporter of the Year award is presented to companies based on the total number of export deals completed in 2008, increase in sales in 2008 compared to previous years, exports as percentage of total sales, the company's commitment to exporting and to customer service, and the company's innovation and originality in marketing their products or services.

Aventure has grown substantially since its formation in 2001 when it began with only one international account and three staff members. Today, exports account for over 90% of its sales and Aventure has increased its staff to thirteen employees. To accomodate this growth, in June 2008, Aventure Aviation expanded and moved into their new custombuilt facility on six acres in Peachtree City, GA, located in the Foreign Trade Zone.

To view the full article on Aventure Aviation, visit The Citizen.

Reorganization and Expansion Sought for Kansas City's Foreign-Trade Zone #15

An application has been submitted to the Foreign-Trade Zones (FTZ) Board by the Greater Kansas City Foreign-Trade Zone, Inc (grantee of FTZ 15) requesting authority to reorganize and expand the zone in the Kansas City, Missouri, area within the Kansas City Customs and Border Protection port of entry. The application was submitted pursuant to the provisions of the Foreign-Trade Zones Act and the regulations of the Board. It was formally filed on April 8, 2009.

In accordance with the Board's regulations, Christopher Kemp of the FTZ staff has been designated examiner to investigate the application and report to the Board.

For more details on the application in review, please visit Import Industry News

Foreign-Trade Zone Bill Passed Both Houses in Baltimore City's Annapolis

This year the City Administration did pretty well in Annapolis - of the 11 cross-filed bills introduced at the administration's request, only one was withdrawn. Seven passed through both the House and Senate, one of which being the Foreign-Trade Zone bill.

This emergency bill brings Baltimore into compliance with the definition of Foreign Trade Zone of the US Department of Commerce. Foreign Trade Zones are like the duty-free shop at the airport, except for companies!

The Baltimore City Paper provides a full list of the eleven bills discussed at this year's session.

Expansion Sought for Kentucky's Foreign-Trade Zone #29

An application has been submitted to the Foreign-Trade Zones Board by the Louisville and Jefferson County Riverport Authority, grantee of Foreign-Trade Zone #29, requesting special-purpose subzone status for the aluminum foil liner stock manufacturing plant and warehouse of Reynolds Packaging LLC (Reynolds), located in Louisville, Kentucky. The application was submitted pursuant to the provisions of the Foreign-Trade Zones Act, as amended (19 U.S.C. 81a-81u), and the regulations of the Board (15 CFR part 400). It was formally filed on March 25, 2009.

FTZ procedures could exempt Reynolds from customs duty payments on the foreign aluminum converter foil used in export production (about 15% of annual shipments). On domestic shipments, the company would be able to elect the duty rate that applies to finished aluminum foil liner stock (duty free) for the foreign aluminum converter foil. Reynolds would also be exempt from duty payments on any aluminum foil for consumer use that becomes scrap or waste during the repackaging activity. The application indicates that the savings from FTZ procedures would help improve the facilities’ international competitiveness.

To view the full article, visit The Official Export Guide at
http://blogs.officialexportguide.com/news/?p=2430