Mexico joins Carnet system

Mexico joins Carnet system    Mexico will become the 71st country to accept ATA Carnets on May 16, making it easier and less expensive for business travelers to temporarily bring certain goods into the country, according to the U.S. Council for International Business.
   ATA Carnets allow shipments to be temporarily admitted into partner countries without formal customs entries, individual import bonds or the payment of import duties or taxes. (The acronym ATA is a combination of the French and English abbreviations for 'temporary admission.') Those benefits apply as long as the goods are not sold and leave the country in the same condition in which they arrived. Carnets simplify customs procedures because an exporter can use a single document for all transactions, make arrangements in advance and at a predetermined cost. The document, which eliminates the need to register the goods with U.S. Customs at time of departure, may be used for unlimited exits and entries in the U.S. and participating foreign countries.
   Mexico will accept the 'merchandise passports' for commercial samples, professional equipment and goods for trade shows and exhibitions. Entry is restricted to 10 major ports. Goods are allowed to stay in Mexico for six months, and six-month extensions may be requested.
   Mexico is the United States' second-largest export market and third-largest trading partner overall.
   'For years, Carnet users have told us that the biggest gap in the system was Mexico,' Cynthia Duncan, USCIB's senior vice president for Carnet services, said in a statement. 'Now, that gap has been filled. It should mean a big boost for business travel and sales in the country and throughout Latin America.'
   The USCIB, which issues and guarantees the internationally recognized customs documents, estimates that more than 160,000 Carnets are issued worldwide each year for goods valued at more than $20 billion.
   ATA Carnets require a single Carnet bond to be secured within the country of origin, but they do not exempt holders from obtaining necessary licenses or permits. The USCIB is required to take security, usually 40 percent of shipment value, to cover any Customs claim that might result from a misused Carnet. Acceptable forms of security are certified check or surety bond. Cash deposits are returned in full and surety bonds are terminated upon Carnet cancellation.
   Bosnia and Herzegovina and the United Arab Emirates began accepting Carnets last month.
   The Carnet system is overseen by the International Chamber of Commerce and the World Customs Organization. The USCIB is the ICC's U.S. affiliate.