Foxsemicon Integrated Technologies, Inc. of Taiwan Agreed to Pay Fine For Export Violation
The U.S. Bureau of Industry and Security (BIS) issued a statement on Tuesday that Foxsemicon Intergrated Technologies (FITI) agreed to pay its penalty of $250,000 for 31 export violations. They are charged with exporting a product from the U.S. to China without a proper export license.
“Exporters must heed the advice of their suppliers when told that products require an export license. Companies involved in systems integration bear the burden of ensuring that license requirements regarding parts and components are met before exporting to foreign customers,” said Kevin Delli-Colli, the acting assistant secretary of Commerce for Export Enforcement.
Furthermore, BIS alleged that FITI knew that licenses were required, but failed to apply for them. BIS agreed to suspend $160,000 worth of FITI fines because they corporated throughout the investegation and agreed to not violate the export law for at least one year.
Knowing which license to apply for can be challenging. Management Dynamics offers a solution that can help. Export On-Demand is a complete trade automation solution the helps U.S. exporters establish an export management system. It is available as a flexible, on-demand solution that can determine if a license is required for a transaction, one of its many features.
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To read the full report from BIS, click here.
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China Violates Import Free Trade Practices, Reports WTO
The Los Angeles Times reported yesterday that the World Trade Organization has ruled favorably for the U.S. in its filing with China. The U.S. claimed that China violated import free trade practices by restricting imports of movies, music and books. This is a victory for the U.S. as it’s continued to deal with copyright piracy issues.
WTO has required China to stop requiring foreign media suppliers to go through costly importing process when distributing its goods. And, has also encouraged China to allow foreign markets to distribute media via the Web. This would help generate more revenue and visiablity for such companies, as Apple, Inc, if iTunes could expand into China.
For more information about this recent ruling, please click here.
Lions and Tigers and Bears, No Buy
According to the Dawn.com website a ban on the import of lions, tigers and big cats has been breached in the last four months.
Suleman Sharif had declared the value of the rare tiger — purchased from Norm Philip, Northwood Zoo and Animal Sanctuary, 2192 Cookson Lane, Sea Grave, Ontario, Canada — as $5,000. He spent $7,829 on air fare, etc.
But, after deliteration from the WWF, the Karachi governmnet issued a permit for Mr. Sharif to import a pair of Siberian tigers, although the ban still stands.
To read the full article, click here.
EU Denies Canadian Seal Products
According to a recent report, beginning next year, the EU may implement a ban to all Canadian products made of seal, except seals traditionally hunted by the Inuit and other indigenous communities. It concerns products created from its fur, meat, blubber and oil and organs.
The Canadian government has appealed the decision.
“We are calling on the European Union to reconsider the proposed seal products trade ban,” said a statement from International Trade Minister Stockwell Day and Minister of Fisheries and Oceans Gail Shea…”Canada has clearly lived up to its obligations, and our position remains that any ban on a humanely conducted hunt such as Canada’s is completely without cause,” it said.
Seal hunting is a traditional sport in Canada with around 6,000 partipants each year. The Canadian government authorizes around 338,000 seals to be slain each season, and has no reports of the species to be endangered.
The Canadian government plans to take this issue to the World Trade Organization.
For more information on this article, click here.