Capacity Building Program on Major International Organisations, Incoterms and HSN Codes

Incoterms are interpretations or definitions of commercial terms that are globally accepted and are used to prevent confusion in foreign trade contracts by providing clarity to the obligations of buyers and sellers. HSN Codes or Harmonized System of Nomenclature is a system that has been introduced to systematically classify the goods all over the world. In order to give an Overview of Inco Terms 2020 and the functionalities of HSN Codes in International Trade, World Trade Center Bhubaneswar in association with EEPC India under the Ministry of Commerce and Industry, Government of India and ECGC Ltd organized a “Capacity Building Program on Major International Organizations, Inco Terms and HSN Codes” on 21^st March, 2022 on a virtual platform.

Mr. Rajendra Kumar Maru, Chief Mentor, Foreign Trade Management & Training Centre, Indore gave a detailed presentation on International Trade Payments. He spoke about the major international organisations such as World Trade Organization (WTO), International Chamber of Commerce (ICC), World Customs Organization (WCO), International Organization for Standardization (ISO) and International Maritime Organization (IMO). He further deliberated on The INCO Terms rules and The INCO Terms rules for sea and inland waterway transports. In addition to that, he also explained about HSN Codes along with its significance and various sources of information of Foreign Trade Data and rules/regulations.

Mr. Kaushik Mitra, Branch Manager, Bhubaneswar, ECGC Ltd. in his address spoke about the present scenario of ECGC in Credit Risk Management, INCO Terms, risks in transport transaction and the role of ECGC. He briefed about the short terms covers ECGC provides for SMEs, to encourage small exporters, for overall transactions, for large exporters, for specific transactions, for specific buyers, for certain services and for consignment exports. He highlighted the political and commercial risks covered and also mentioned the risks not covered by ECGC. He concluded with the policies obtained by ECGC and the service network throughout the country.

Earlier in the session, Mr. Pawan Sureka, Convener, EEPC India Cuttack (Odisha) Chapter welcomed all the speakers and highlighted various initiatives undertaken by EEPC India to handhold the exporters and support them to strengthen operations in the international market.

Ms, Nimeshika Natarajan, Assistant Director, World Trade Center Bhubaneswar proposed the vote of thanks.