The buyer’s objective of “the right product at the right price” is unlikely to be attained in the absence of customs planning. Any sourcing decision must take account of the following considerations:
- materials and components imported for use in export products may be relieved of import duty;
- buying materials in the country to which the products will be exported may result in the customer paying less duty;
- it may be possible to suspend the duty if imported goods are not available from alternative sources; and
- low manufacturing costs overseas may be outweighed by high duties whilst tariff preferences may mitigate high prices.
We can help you make cost-effective sourcing decisions and obtain the most appropriate preferences, duty reliefs and tariff suspensions.