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SMALL BUSINESS NEWS

21 Feb 2014

 

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Executive Order To Improve Trade

On February 19, 2014 President Obama signed an executive order establishing a single portal for companies to submit information the government requires prior to approving imports or exports of goods.

The Executive Order directs government agencies to to make all the necessary arrangements in order to have the International Trade Data System (IDTS) in place by December 31, 2016.
“The ITDS, as described in section 405 of the Security and Accountability for Every Port Act of 2006 (the "SAFE Port Act") (Public Law 109-347), is an electronic information exchange capability, or "single window," through which businesses will transmit data required by participating agencies for the importation or exportation of cargo.”
A streamlined process would make it easier for small businesses with limited resources to gain access to international trade.

Sources:
Executive Order


By Owen Daniels

 

 

 

 

 

 

 

 

 

 
 

 

  
 

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