Free trade agreements are gaining traction in the trade community as they provide unparalleled avenues to expand trade both regionally and globally.
Charlotte, NC, USA (PRWEB) February 24, 2010
Integration Point®, Inc., a provider of global trade management compliance solutions, announces a strategic relationship with Samjong KPMG Advisory, Inc. to address the rapid expansion of free trade agreements (FTAs) in South Korea. This relationship solidifies both companies as the leading providers of free trade agreement solutions for the South Korean market. The Integration Point – Samjong KPMG Advisory relationship will provide unmatched capabilities to those companies looking for expertise in leveraging benefits of FTAs as well as automating the compliance requirements of existing FTAs such as Korea – India, Korea – EU, Korea – ASEAN, and future FTAs being negotiated such as Korea-US.
South Korea, in particular, has recently taken an aggressive approach to forming free trade agreements with countries around the world. South Korea currently has 14 free trade agreements either signed, in process or under joint study. In the next 10 years, South Korea is expected to sign free trade agreements with more than 60 countries. This will make South Korea a true “hub” of FTA activity with spokes extending out in all directions and will position South Korea in a historic role of leading the international trading community toward multi-lateral free trade with far-reaching geo-political and economic implications.
“South Korea continues to emerge as a leader in FTAs, and more and more companies are looking for assistance in understanding all the compliance rules of FTAs as well as how to benefit,” said Young Hyo Kim, Managing Director of Samjong KPMG Advisory, a business unit of KPMG Sejong Customs Corporation. “In anticipating this need, we chose to partner with Integration Point to provide companies with the best automated solution for managing all aspects of free trade agreements. Together we will be able to offer unmatched consulting services and automation tools to companies looking to fully utilize and benefit from the actions being taken by the South Korean government to become the primary FTA ‘hub’ in Southeast Asia.”
Integration Point FTA Management allows companies to:
- Manage qualifications for multiple free trade agreements
- Solicit and manage supplier documentation and certificates of origin
- Generate certificates of origin for customs agencies based on eligibility criteria
- Analyze Bills of Materials against multiple free trade agreements
- Access up-to-date global free trade agreement rules in an on-demand environment
“Like South Korea, many countries see the value in expanding trade opportunities via the use of free trade agreements, and Integration Point looks forward to facilitating the adoption of trade agreements in each of these countries,” said Kevin Shoemaker, Director of Global Solutions at Integration Point. “Free trade agreements are gaining traction in the trade community as they provide unparalleled avenues to expand trade both regionally and globally. Integration Point automates the compliance process to ensure benefits are realized for those that participate.”
About Samjong KPMG Advisory, Inc.
Samjong KPMG Advisory, Inc. is a professional service firm comprising of people whose knowledge covers a broad range of economic, social, and cultural issues. Our deep understanding of a variety of issues means we are prepared to respond to complex questions raised by governments, enterprises, and individuals. For more information, visit http://www.kr.kpmg.com
About Integration Point, Inc.
A leading provider of global trade management solutions, Integration Point, Inc. assists international companies by providing import and export visibility globally, delivering up-to-date global regulatory information and facilitating connectivity to supply chain partners and government agencies around the globe. Built on a single, web-based platform, Integration Point allows organizations to secure their supply chain and comply with global regulatory requirements while improving visibility and realizing savings opportunities. Integration Point Global Trade Management includes solutions for: import/export management, supply chain security, entry validation, importer security filing, restricted party screening, product classification, free trade agreement qualification and duty deferral program management (US FTZ, Mexico Maquiladora, EU Customs Warehousing, etc.). Contact Integration Point at http://www.IntegrationPoint.com or 704-576-3678.