APEC Interactive Tariff Database Launch

February 1, 2011 at 7:00 am

The business community moves forward with initiative to make trade information in the Asia-Pacific region more widely available

Washington, D.C., January 27, 2011 – The National Center for APEC (NCAPEC) and the United States Council for International Business (USCIB) are pleased to announce the official launch of the pilot phase of the APEC Interactive Tariff Database. The APEC Tariff Database provides business in the APEC region with a tool to make cost-saving sourcing decisions based on up-to-date tariff information.

“This database will save Levi Strauss & Co. time and money by organizing information from many of our key trading partners in an easily searchable manner. Access to accurate and up-to-date information allows us to remain competitive in the global business economy,” noted Laurie Goldman, senior manager of worldwide government affairs and public policy with Levi Strauss & Co.

In 2009 APEC economies agreed to make their customs and tariff information more transparent and available to the public. Members of the business community expressed interest in taking that important progress one step further by creating a robust trade database that would be fully searchable based on Harmonized System classification numbers.

This long-term initiative supported by NCAPEC and USCIB, aims to draw attention to the lack of publicly available information on tariffs and preferential rules of origin which have made it difficult for companies to take full advantage of the many free trade agreements negotiated in the APEC region.

“The APEC economies account for 58 percent of all U.S. exports, while our direct investment in the region totals some $820 billion,” said USCIB Executive Vice President Ronnie Goldberg. “As we seek to increase our competitiveness, create good-paying jobs at home and achieve President Obama’s goal of doubling U.S. exports within five years, companies will need access to new sources of information and market intelligence. This database is an important step in that direction.” Read More

Source: USCIB, News Release, January 27

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Entry filed under: Asia, Trade.

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