iCustoms Board Advisor Series – Mark Denney
iCustoms Board Advisor Series – Mark Denney From Banking Leader to Public Sector Trailblazer: A Technology Visionary We’re proud to feature Mr. Mark Denney in our ongoing “Insights & Expertise” series. Mark brings over two decades of experience in technology leadership to the iCustoms board as an advisor, having served in prominent roles within both the private and public sectors. A Legacy of Innovation in Banking: Mark’s career is marked by extensive experience in Commercial and Investment Banking Technology. His expertise encompasses leading CIO (Chief Information Officer) positions, spearheading the development and implementation of innovative technology solutions for this critical sector. Additionally, he possesses a deep understanding of Global Payment Platforms, having managed them effectively throughout his career. Public Service Champion: Delivering Impact at Scale Mark’s commitment to excellence extends beyond the realm of traditional banking. He has demonstrably made a significant impact in the public sector as the former CIO of HMRC. In this crucial role, he played a pivotal role in the delivery of the UK COVID Schemes, including Furlough and SEISS. This monumental undertaking facilitated the disbursement of over £350 billion, directly protecting millions of jobs and households during a challenging economic period. Leading the Way for a Smooth Brexit: Mark’s leadership further extended to enabling a smooth EU Exit. Effectively leading the EU Exit Border Technology project, he made a significant contribution to the UK’s seamless exit from the EU on December 31, 2020. Mark is a vital member of the iCustoms board due to his demonstrated track record of driving innovation across a variety of sectors, his capacity to accomplish significant projects at scale, and his in-depth knowledge of technology. His expertise will be instrumental as we navigate the ever-evolving landscape of customs solutions. Stay tuned for further insightful conversations with the visionary leaders who shape iCustoms! You may also like: 02 May 2024 From Streamlined to Stalled? Solving Rule of Origin Challenges in UK Construction with iCustoms Read More 30 April 2024 Trade Compliance News – April 2024 Read More 25 April 2024 Stuck in Customs? Build a Smoother Supply Chain for Your Manufacturing Clients Read More 19 April 2024 iCustoms Receives ICC Digital Trade Award for “Best Port or Logistics Systems” Read More 18 April 2024 iCustoms Board Member Series: Michael Burnett Read More About iCustoms iCustoms is an all-in-one solution helping businesses automate customs processes more efficiently. With AI-powered and machine-learning capabilities, iCustoms is designed to streamline your all customs procedures in a few minutes, cut additional costs and save time. Start Now Solutions Customs Agents Traders Couriers Products Import Export Classification Intelligent Document Processing Customs Audit Landed Cost Calculation Restricted Screening
Trade Compliance News – March 2024
Trade Compliance News – March 2024 UK goods face new Canada tariffs in Brexit trade fallout New duties will now be imposed on Britain’s exports to Canada. As a result of the failure of negotiations between the two nations to extend trade rules for a new post-Brexit agreement, this has occurred. Automobiles exported from the United Kingdom to Canada are subject to a 6% tariff or tax. This comes as the temporary privilege granted under the UK -Canada trade deal which was extended after Brexit in 2020, expired after failed negotiations. As a result, British exporters of vehicles, chemicals, and processed foods that depend on EU parts will no longer have tariff-free access to the Canadian market. Learn more UK Steel Exporters Rejoice as Costly Paperwork Burden Lifted Since last autumn, companies exporting iron and steel-containing products to the EU have had to furnish ‘mill certificates’ as proof of non-Russian origin of elements. This requirement posed significant challenges, proving either costly or unattainable for many UK businesses, leading to the loss of vital export markets. In a welcome change, the EU has now scrapped the paperwork requirement. Countless UK businesses are experiencing immense relief as the European Union announces the removal of a significant paperwork burden. The lifting of this paperwork burden will bring several benefits to UK steel product exporters: Cost Savings: Eliminating the need for costly paperwork such as ‘mill certificates’ will reduce administrative expenses for businesses, enabling them to allocate resources more efficiently. Since last autumn, companies exporting iron and steel-containing products to the EU have had to furnish ‘mill certificates’ as proof of non-Russian origin of elements. This requirement posed significant challenges, proving either costly or unattainable for many UK businesses, leading to the loss of vital export markets. In a welcome change, the EU has now scrapped the paperwork requirement. Countless UK businesses are experiencing immense relief as the European Union announces the removal of a significant paperwork burden. The lifting of this paperwork burden will bring several benefits to UK steel product exporters: Impact on Costs: Costly paperwork elimination such as ‘mill certificates’ will reduce administrative expenses for businesses and enable them to allocate resources more efficiently. Increased competitiveness: UK steel exporters can compete more effectively in the EU market without facing bureaucratic hurdles and potentially gain a competitive edge over rivals from other countries. Market expansion: This removal of barriers will allow UK businesses to explore new opportunities and expand their market reach within the EU without facing hurdles Business continuity: By alleviating the burden of compliance documentation, exporters can maintain uninterrupted trade relationships with EU partners, ensuring continuity of business operations and safeguarding against market disruptions. Overall, the benefit of lifting the paperwork burden is the promotion of smoother, more efficient trade practices, fostering growth and prosperity for UK steel product exporters. Read further 30 April 2024 Deadline Looms- Are You Prepared? What will change on 30th April? How to remain compliant? Additional import controls are coming on 30 April. From 30 April 2024, traders must: 🛳 Make sure that EU/EFTA goods enter GB via a designated Border Control Post (BCP) or Control Point (CP) suitable for your specific commodity type. Upon arrival, be prepared to present the consignment for inspection as needed, where risk-based documentary, identity, and physical checks may occur. Inspections for high-risk plants and plant products from the EU, Switzerland, and Liechtenstein will transition from Places of Destination (PoDs) to BCPs and CPs. 🛳 Before submitting the import notification for a consignment containing fish or fishery products for human consumption in IPAFFS, ensure to upload the IUU (Illegal, Unreported, and Unregulated) documents to the CHED (Common Health Entry Document). Be in the know Supply chain woes as Baltimore Bridge collapses The Francis Scott Key Bridge in Baltimore collapsed in a tragic incident on 26th March following a collision with a large container ship. This resulted in six presumed fatalities and significant potential damage running into millions of dollars. Baltimore being a key port on the east coast of the US, is a major hub for international trade into and out of the United States. The Maritime cargo into the port has been suspended as a result. This will create significant problems on the US East Coast for US importers and exporters, Trade experts say that this could have major implications along the supply chain, as commercial vessels remain trapped by the fallen debris. Read more Export Control Regulations 2024 Amended The Export Control Joint Unit recently issued a notice to exporters informing them about amendments to the UK’s lists of items under export controls. The updates involve implementing new controls on certain emerging technologies. The UK is introducing these controls in collaboration with other like-minded countries to enhance national regulations and address gaps in the multilateral system. The new entries pertain to: Quantum technologies Cryogenic technologies Semiconductor technologies Additive manufacturing equipment Advanced materials Exporting this equipment will now require an export licence for all destinations. Find out more Rebounding Global Trade in 2024, Contrary to the Decline of the Previous Year Amidst persistent challenges, UNCTAD’s Global Trade recently published a report highlighting the global trade trend and encouraging indications. The international trade sector is anticipated to recover in 2024, following a series of quarterly declines. Global trade is anticipated to contract by $1 trillion in 2023, according to preliminary data. This contraction will be primarily caused by weaker trade within East Asia and Latin America, as well as diminished demand in developed nations. Despite a decline in the trade of commodities in 2023, the trade of services sustained growth, indicating a resilient approach in the face of difficult circumstances. The global trade value witnessed a decrease of 3% in the year 2023. Contrary to a 5% decline in trade in commodities, trade in services experienced an 8% surge. Developing countries and South-South trade fared worse than the global averages during the year. However, trade in environmental products saw growth, particularly in electric cars, which boosted motor vehicle
