“Exporting is like a soap opera,” said Paul DeVecchio, president of DeVecchio and Associates, a consulting firm in Boston.
On Jan. 26, regional export executives will have the opportunity to unravel ever-changing export rules as Bryant University in Smithfield will offer a full-day conference on trade compliance.
The goal is twofold: to educate people about compliance issues and provide the information necessary to establish a company-wide program. Topics include increased penalties for export violations, new trade policies toward China and an overview of the new Automated Export System.
These topics have become even more prevalent after the 9/11 terrorist attacks and the increased security measures in place.
A company must perform their due diligence to ensure the proper checks are in place and the rules are followed, said DeVecchio. Without compliance, a company faces fines, damaging publicity or even halting of export privileges.
In fiscal year 2004, investigations by the U.S. Bureau of Industry and Security led to 30 convictions of individuals and companies in criminal cases and the assessment of more than $6 million in administrative settlements, up from $4.1 million the previous year. The bureau also reviewed nearly 16,000 export license applications – an increase of 25 percent from the previous year – and knocked eight days off the average processing period to 36 days.
Beginning in April, it will be mandatory to complete all trade compliance work electronically and it will be processed in real-time.
The seminar will be held in the Bello Center from 8 a.m. to 4 p.m. The cost is $95 and participants can register by calling (401) 232-6407.
