International Trade Roundtable: Back to Basics — Phone Calls, Carnets, and Cargo

Boomerang carnets® hosted a roundtable discussion with some noteworthy international trade experts as the last of our four-part webinar series, Leading Through Crisis.  One of the things to come up was that the industry is getting back to basics.  This period of quarantine saw a transition in the workplace from office locations to working from home, resulting in simultaneous challenges in communication, both with each other and with customers.  New shifts in the movement of goods were also discussed.  

One of the panelists, Darie Achstein-Conway, an expert in Trade and Compliance Practices said, “From talking to people in the industry and continuing to talk to colleagues, I have found that, more than anything, people are going back to basics.  They are really going back to revamping the supply chain and really going back to, if you would, square one.”

“Business travel completely stopped, so we are going back to our staff and digging back in the cold cases, if you will.  As an example, if there was a trade lane in Vietnam or Thailand, for instance, can we continue using that?  Does it make sense?  We are reaching out to the supplier base, and reaffirming relationships with brokers, freight forwarders, and carriers.” 

“I’ve talked to people I haven’t really talked to in two to three years in this industry who are looking for a new option and are going back to the carnet option.  Using a carnet is a fantastic way to move goods and a lot of people just may not be aware of the dynamics involved in being able to do that.  The beauty of the carnet is that it is online, and you do not have to go out, you do not have to wait for somebody to file it for you.  So, I think the efficiency is probably the main key to that.”

Carnets and Cargo Shift

Curt Wilson, President and CEO of boomerang carnets® weighed in with some observations on the shift, due to COVID-19 concerns and restrictions, in the use of ATA Carnets. Where previously we saw most carnet use was for hand-carried shipments, it has moved to cargo, largely with industries familiar with using them.  There is, however, a learning curve with companies not familiar with their versatility.    

“One of the main things I’ve seen in the production industry, for example, is the shift from hand-carry to cargo shipments and then hiring people on the ground as opposed to bringing your own crew, which is not an option in most cases right now.  The usage of carnets can be done both by hand-carry or cargo, so it is a very flexible way to move your cargo or goods.”

“Another change we’re seeing is the use of carnets for goods that might, ultimately, be permanently entered overseas.  The carnet assists at getting the goods out, but if a sale results, and it goes from a temporary import to a permanent one, the process to convert it is very easy and we have people who can assist with that, both in the U.S. and the U.K.  We partner with the Liverpool Chamber of Commerce in the U.K. and are establishing permanent entry assistance there as well.  It’s a slow crawl back for everyone, but things are moving forward and information like this will increase options for carnet users.” 

Everybody is looking at duty optimization right now. They should be looking closely at the ATA Carnet, its benefits and flexibility for optimal import-duty and -tax savings.  When you step back and look at what companies are doing to get through this period, companies are trying to survive and one of the best ways to survive is to be able to optimize savings on duties and leverage international trade opportunities.

Boomerang carnets® is here to help.  If you are interested in expanding your business internationally with economy and ease the ATA Carnet could be the tool you are looking for.  The ATA Carnet is an internationally accepted customs document for the temporary import/export of goods.  Its many benefits have assisted companies expand into new global markets and its flexibility can easily accommodate these changeable times.  Please share this information with whomever you think may benefit.  We want all our colleagues and customers to survive and thrive. 

You can view any of our webinar recordings, Leading Through Crisis Part 1, 2, 3, or 4 by contacting Monika Jadeszko.  We value our customers and recognize the challenges of the day.