Foreign trade forum - MSNewsNow.com - Jackson, MS

Foreign trade forum

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By Jewell Hillery

JACKSON, Miss. (WLBT) - A number of local organizations hosted an educational seminar on international trade changes.

The group of trade experts met Wednesday at the Mississippi World Trade Center for the half day forum.

Participants learned about changes in international commercial terms, also known as incoterms.

Incoterms are used to handle legal contracts for international shipments.

Incoterms specify who pays for a trade delivery.

In addition to being used for international shipments, incoterms are also expected to be used for domestic business in the future.

"It'll effect the bigger companies first and then once their polices start using these terms for both domestic and international it will probably within the next 5 or 10 years effect all domestic companies as well," says Carolyn Turner, an International Trade Specialist with the Alabama Trade Center.

The incoterm forum will also be held in Tupelo on Jan. 25 and the Gulf Coast on Feb. 8.

For more information contact the Mississippi World Trade Center at 601-353-0909 or email aatkins@mswtc.org.

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