Temperature Control expansion
WTDC has commenced the expansion of its FTZ Temperature Control Warehousing. We will continue to provide updates through construction and completion. As mentioned in our last newsletter, WTDC’s FTZ business rose 37% in 2015 thanks in part to temperature control services for our Wine and Spirits customers from the Duty-Free and Travel Retail industry.
Reminder: FTZ Annual Report due
FTZ Operators: The Annual Report is due on March 31 and includes all information from January 1 to December 31 of last year. Reports must be submitted via OFIS.
The Foreign Trade Zone Board offers free webinars on the topic of submitting the FTZ annual report. The next webinar is on Wednesday, February 10.
USA & Cuba relations update:
Export Financing & Business Travel
Last week the United States laid out new policy changes in the Export Administration Regulations (EAR) and Cuban Assets and Control Regulations (CACR). Of note to the trade and transportation industries are changing regarding the way products for export to Cuba originating from the United States may be financed, with agricultural products being a noted exception.
The financing of export precedent involved rerouting to a third country and/or cash only payment in full for most commodities, two common factors that many policy changes eliminate. Additional changes release last week include expanding definitions for business interactions with the Cuban people as well as business travel to the island.
U.S. Secretary of Commerce Penny Pritzker said, “…These regulatory changes will also facilitate exports that will help strengthen civil society in Cuba and enhance communications to, from and among the Cuban people. Looking ahead, we will continue to support greater economic independence and increased prosperity for the Cuban people, as we take another step toward building a more open and mutually beneficial relationship between our two nations.” (From Commerce.Gov)
Leap Year, Did you Know?
You likely already noticed that this February there are 29 days as we are in a leap year. You also probably know that leap year is every four years, but did you know…
Presidential elections in the USA fall within leap years (More time for debates!)
We have a leap year to closer align the Gregorian calendar (365 days) with the solar year (365.242 days).
Leap year only occurs on years divisible by 4 and century years divisible by 400 (Sorry, 1900 and 2100!) to account for the 26-second difference in Gregorian and solar years.
10 dates were skipped in October 1582 to align the new Gregorian calendar with the old Julian calendar instituted in 46 B.C.
Save the Date: Lod Mosaic at the Frost Art Museum
The Arts & Culture Committee of the Chile-US Chamber of Commerce is proud to announce its next event:
Lod Mosaic, Tour with Chile-US Chamber
Patricia and Phillip Frost Art Museum-FIU
FIU, 10975 SW 17th Street, Miami, FL 33199
Photo Credit: The Arab Daily News