Portugal, Trade Compliance, Unfair Business Practices & Arbitration

With 10 million inhabitants, Portugal is a small European country. But trade and investment opportunities are to be found there. Visit these links to learn more about the country. Trade compliance is a major concern when doing business abroad. But the concept is complicated. Take a look at a few sites that can help. Trade and business practices can be unfair. Better to be aware and informed rather than be cheated! Read some stories and cases on this blog dedicated to unfair business practices. When involved in disputes, arbitration can be a good resolution. Get information about it from the website of the International Council for Commercial Arbitration.
INTERNATIONAL COUNCIL FOR COMMERCIAL ARBITRATIONA Guide to Resolving Disputes

PORTUGALOur Featured Country
http://www.portugalglobal.pt/EN/When exploring new markets in Europe, don’t forget Portugal. Located on the Atlantic coast, in the south-west of the European continent, the country can be interesting for investment, imports or exports. Purchasing power is weak at the moment. The government’s priority is to revive the economy, stimulate employment and increase standards of living and consumer spending.
Main import products are machinery and transports commodities, chemicals, petroleum, textiles and agricultural products. Imports of consumer goods are low, although there may be some room in the market for innovative products. And there are many opportunities for foreign companies to invest in Portugal. To boost the recovery, the government has launched large infrastructure projects (highways, trains, airports, hydraulic dams) and privatized public utilities.
In terms of overall competitiveness, the World Economic Forum’s Global Competitiveness Report on Portugal ranks it 43rd position out of 134 countries. Fisheries and agriculture account for about 4% of the GDP, employing 13% of the labor force. The tertiary sector (trade, transport, telecommunications, tourism) has grown, producing 66% of the GDP and jobs for 52% of the working population. The remaining 30% of GDP is mainly produced by the building and energy sectors (oil refineries, petrochemicals, cement electrical equipment). Agricultural products, wood and paper products, combustibles, chemicals, textile, clothing and footwear, machinery and electrical equipment are the country’s main export items.

For an economic overview of the country, you can find statistical data on the website of the Bank of Portugal. And to learn more about investment in or to sourcing from Portugal, visit Portugal Global.
US TRADE COMPLIANCEA Confusing Concept
http://www.bis.doc.gov/licensing/exportingbasics.htmTrade compliance in the US is an often overlooked but crucial aspect of international business. Unfortunately, there are several definitions of it, as it encompasses several concepts and involves many different government agencies. A general definition would be that trade compliance is the need to obey laws, rules and regulations regarding the goods and services entering and leaving a country and the companies and countries involved in importing or exporting.
The main US government agencies that deal with the various aspects of trade compliance include:
The Bureau of Industry and Security (BIS) of the US Department of Commerce's mission is to protect U.S. foreign policy and economic interests in case of sensitive exports to hostile entities: items that have both commercial and military or proliferation applications, exports submitted to license, restricted destinations (embargoed countries, countries designated as supporting terrorist activities), etc. The BIS is responsible for implementing and enforcing the
Export Administration Regulations (EAR) and issues export licenses for these products. Click here for an introduction to US Department of Commerce export controls. And click here for a summary of the BIS's enforcement duties and activities. In July, FITA is sponsoring several seminars on BIS compliance issues. Click here for more information about the seminars.
The U.S. Customs and Border Protection agency of the US Department of Homeland Security regulates most US imports. The Trade Compliance section of their website has links to most CBP compliance programs. Take a look at the Compliance Measurement (CM) program, which aims to verify if goods can be imported, if they are safe for the consumer, if the labeling is correct and other standards and regulations.
The Directorate of Defense Trade Controls of the US State Department regulates the sale, export, and re-transfer of defense articles and defense services under a different set of regulations, the International Traffic in Arms Regulations (ITAR). Consult both BIS and DDTC if you export any product or service that may be regarded as sensitive for national defense or security.

The Market Access and Compliance (MAC) division of the US Department of Commerce’s international Trade Administration ensures access to world markets for American companies and workers. Its Trade Compliance Center monitors foreign compliance with trade agreements.
The Food and Drug Administration regulates import and export of food and medical products.
The US Department of Agriculture's, Foreign Agricultural Service Office of Administrative Operations regulates agricultural products.
The Office of Foreign Assets Control (OFAC) of the US Department of the Treasury administers and enforces economic and trade sanctions based on US foreign policy and national security goals.

http://www.arbitration-icca.orgThe International Council for Commercial Arbitration (ICCA) is a worldwide non-governmental organization dedicated to promoting and developing arbitration, conciliation and other forms of international dispute resolution. Its conferences, publications and spotlights can help save money and time in litigation and lawyers fees. Take a look at the list of useful links. One of the difficult aspects of using arbitration is the difficulty in identifying the relevant international treaties and national laws. Just click to find what you need.
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