The Importance of Being an Accredited Importer and Exporter in the Philippines
Over the last five years, the Philippines has become one of the most competitive economies being the 38th largest export economy worldwide and forecasted by HSBC as a potential 16th largest economy by the year 2050. Given the fact that the country’s economy itself has advanced, the implementation of trade policies is stricter and the standards, higher. Having that said, here is a detailed list and account of the importance of being an accredited importer and exporter in the Philippines:
Recognition
Businesses who aspire to be accredited are carefully assessed and evaluated by a neutral accrediting body based on numerous requirements and conditions, providing clients with a reliable and fair basis when choosing an import and export company and a guarantee of quality service. After getting accredited, chances are you will be a premier choice in the import and export industry.
Promotion and advertising
Getting accredited is an excellent marketing strategy because after passing the accreditation assessment, you will be awarded a certificate of accreditation that you can publish in your website to demonstrate your commitment to providing quality to your present and potential clients.
Keeping ahead of the competition
Not every import and export business volunteers to undergo the accreditation process because they lack knowledge of its importance and only a few passes the assessment done by the accreditation body. That is why getting accredited gives you an edge over your competitors.
Exemptions
As an accredited importer, you have the privilege of getting exempted from payment of import duties upon the observance of formalities and regulations, while an unaccredited business doesn’t.
Minimized expenses
If you have numerous shipments to be made, you can reduce your expenditures by directly processing your entries with the Bureau of Customs instead of paying third-party consignees to do the job.
The main objectives of accreditations in the Philippines are to prevent smuggling, combat tax fraud, and evasion, and to transform the Philippines into an exporting nation through cooperation between government and private entities.
But, as you can see in this article, it is just as beneficial to every business inside the country because it encourages each business to improve and excel in their chosen industries constantly.
Here at Excelsior Worldwide Freight Logistics, we have equipped people who are knowledgeable regarding import and export legalities and are willing to help you get accredited.
We also conduct free orientation for those who are willing to learn about importation & exportation. It is our advocacy to share our knowledge & experience for 17 years in the business.
Contact us today at (063) 525-9775 or email us at wecare@excelsior.ph
To learn more about the importance of being an accredited importer in the Philippines, see this infographic on the advantages of being an accredited importer.
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