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The Cork/Kerry branch of the IEA will hold another seminar today to discuss European & Irish Export Controls. The seminar shall be presented by Michelle Lynch, Director of Crannagh & Co, winners of the National Enterprise Awards, and will discuss new issues that have arisen which will affect all Irish exporters.
Dermot Carberry, Chairman of the IEA Cork/Kerry branch commented that “In many cases firms might have no understanding of the issue as responsibility for customs entries has been outsourced to an agent and the objective of this seminar is to go through the new issues and seek clarification which has been requested by its members”
Ireland will recover through export growth and the results so far this year demonstrate this with with a very aggressive 12.8% growth in merchandise exports in the 3rd quarter, and continued good growth in services exports, bringing total exports for the quarter to €40.4 billion -up 9.3% on the same period last year.
The Export Ireland Survey & International Trade Finance Review 2010 highlighted many issues such as trade finance from banks still a problem with around 85% of firms surveyed stating that access to finance had not improved since June 2010. Also use of export credit insurance had decreased from just fewer than 25% in 2008 to 15% in 2010.
Carberry commented that” Our objective for companies in the Cork/Kerry region is to offer as much assistance, like this seminar today and to ensure that these companies are compliant and focus on achieving growth in exporting as the global economic recession is causing changes in Export Controls which can be costly”.
Michelle Lynch of Crannagh & Co stated” At a time when Revenue are practically looking for “Pennies under the Corporate Sofa Cushions” it is vital that Exporters be aware of the focus on Export Controls , and Compliancy , the penalties for violation of such controls, can be as high as E10,000 000 in fines ,and/or up to 5 years Imprisonment” . The focus of the Seminar is to examine changes in the legislation, and ensure that Exporters carry out their Due Diligence in order to ensure compliancy “
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For further information call:
Dermot Carberry, Chairman IEA Cork/Kerry Region Ph: (021) 2340068 Mob: (087)0633132
Dermot Carberry, Chairman of the IEA Cork/Kerry branch commented that “In many cases firms might have no understanding of the issue as responsibility for customs entries has been outsourced to an agent and the objective of this seminar is to go through the new issues and seek clarification which has been requested by its members”
Ireland will recover through export growth and the results so far this year demonstrate this with with a very aggressive 12.8% growth in merchandise exports in the 3rd quarter, and continued good growth in services exports, bringing total exports for the quarter to €40.4 billion -up 9.3% on the same period last year.
The Export Ireland Survey & International Trade Finance Review 2010 highlighted many issues such as trade finance from banks still a problem with around 85% of firms surveyed stating that access to finance had not improved since June 2010. Also use of export credit insurance had decreased from just fewer than 25% in 2008 to 15% in 2010.
Carberry commented that” Our objective for companies in the Cork/Kerry region is to offer as much assistance, like this seminar today and to ensure that these companies are compliant and focus on achieving growth in exporting as the global economic recession is causing changes in Export Controls which can be costly”.
Michelle Lynch of Crannagh & Co stated” At a time when Revenue are practically looking for “Pennies under the Corporate Sofa Cushions” it is vital that Exporters be aware of the focus on Export Controls , and Compliancy , the penalties for violation of such controls, can be as high as E10,000 000 in fines ,and/or up to 5 years Imprisonment” . The focus of the Seminar is to examine changes in the legislation, and ensure that Exporters carry out their Due Diligence in order to ensure compliancy “
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For further information call:
Dermot Carberry, Chairman IEA Cork/Kerry Region Ph: (021) 2340068 Mob: (087)0633132
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