CANADA: Canadian firm launches online internet quota exchange for the apparel industry
Apparel exporters can now buy and sell NAFTA Tariff Preference Level Quota (TPL) via the internet with the launch of TheQuotaExchange.com, the world's first fully-integrated business-to business (b2B) marketplace for quota. TheQuotaExchange.com provides a neutral, secure marketplace for trading transferable export quotas on-line."Buyers and sellers no longer have to deal with brokers or agents to determine the true value of their entitlement," said vice-president, Gaetan Nolet. "What we are delivering is the best opportunity for producers and distributors to buy or sell quota in a cost-effective, convenient and credible environment." Trades are settled through theQuotaExchange.com's fulfillment center, thus insuring that all trades are filled in accordance with the rules and regulations set forth by the various administrating bodies. The site is also a comprehensive source of trade-related links and news.Last year, 96% of Canada's apparel exports went to the U.S. with a value of just over $2.5 billion.Canadian wool and non-wool TPL are the first of many commodities to be traded at TheQuotaexchange.com. The company is set to announce quota markets for a host of other commodities and countries soon.
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