6.5 Summary

Different ways to facilitate international freight flows were discussed in the chapter. Realizing that countries gain from trade, it is important to simplify, facilitate, promote and harmonize it, various approaches that can help were discussed. First, the importance of Incoterms rules were highlighted, and 11 terms were discussed. Further, economic integration and trade security programs were explained wherein trade agreements, Canada’s Partners in protection, Free and Secure Trade, Customs Self – assessment, single – window initiative and US’s CT-PAT program were discussed. At last, Harmonized Coding System was introduced, highlighting its importance in the product classification world wide.