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About FedEx
FedEx Archives: 1997 Press Releases
( BW)(FEDERAL-EXPRESS)(FDX) FedEx Delivers on APEC Tariff DatabaseBusiness Editors MONTREAL, Quebec--(BUSINESS WIRE)--May 7, 1997--Federal Express today demonstrated a new Internet-based customs and trade database designed to expedite global commerce. The database was developed by FedEx at the request of the U.S. Department of Commerce and, when available, will be the only consolidated tariff and customs-related information on Asia-Pacific Economic Cooperation (APEC) member nations. The tariff database project was initiated by the Australian Customs Service in 1994 in response to the APEC Ministers' need for a common source of information explaining the various countries' customs requirements and tariffs. A pilot CD-ROM project was originally created. However, in 1995 the APEC Tariff Database Task Force concluded that because of the requirement for an easily accessible source of data, the information should be located on a World Wide Web site. The upcoming Tariff Database was announced at a news conference in Montreal by Ed Clark, senior vice president of Operations Support and Engineering for Federal Express. "The APEC Tariff project is an extraordinary result of inter-governmental and private sector cooperation." "This will be a major step forward in expanding export opportunities to the economies that account for 50% of the world's GDP," said Mr. Clark. "Thanks to the APEC Secretariat, the Committee on Investment and Trade and support of the participating APEC economies, we will soon be a step closer to true open skies and open trade." One of the most significant factors in marketing a new product or service in another country is the cost of doing business in that country. Until now, determining customs duties and taxes could involve days of research. The tariff database will allow companies and individuals to select export markets and product mix based on hard, readily available information on costs. APEC is comprised of 18 member economies including Canada. One of its major objectives is to further the goals of trade liberalization. Federal Express is the world's largest express transportation company providing fast and reliable services for more than 2.8 million items to 211 countries each working day. The company's integrated global network includes 127,000 employees, 41,000 drop-off locations, more than 575 aircraft, 38,000 vehicles and 550,000 Powership and FedEx Ship automated systems. Federal Express reported revenues of $10.3 billion for its fiscal year ended May 31, 1996. APEC is the key agenda-setting body in the region, dedicated to trade and investment liberalization and facilitation as well as economic and technical cooperation. APEC has pledged to achieve free and open trade and investment in the region by 2010 for developed economies (2020 for developing economies.) APEC comprises 18 member economies, ranging from Canada's most important trading partners, the United States and Japan, to emerging economic powers such as China, Singapore and Hong Kong as well as markets of the future such as Indonesia and Malaysia. -0- Note to Editors: Federal Express press releases are available on the World Wide Web at http://www.fedex.com . -0- *T FEDEX APEC TARIFF FACT SHEET -- Produced with the assistance of Federal Express Corporation. -- The Database will be the ONLY consolidated full-range of information on APEC member tariffs and customs requirements. -- 24 hours a day, seven days a week. -- Project initiated by the Australian Customs Service in 1994; promoted by the US Department of Commerce. Benefits -- Strategic marketing tool to assist businesses in APEC economies. -- Convenient to use; easy to navigate. -- Varying levels of detail according to the needs and tariff expertise of the user. -- A prototype for future public/private sector joint initiatives. *T --30--LH/na* CONTACT: Federal Express Corporation Sally Davenport, 901/395-3466 or Federal Express Canada Ltd. Lisa Elliott, 905/896-6942 KEYWORD: TENNESSEE INDUSTRY KEYWORD: TRANSPORTATION URL: http://www.fedex.com REPEATS: New York 212-752-9600 or 800-221-2462; Boston 617-236-4266 or 800-225-2030; SF 415-986-4422 or 800-227-0845; LA 310-820-9473 Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. URL: http://www.businesswire.com |
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