Preferential origin (PO): Opportunity or Risk for Businesses?

In a tense, globalized economy where industry and trade operate internationally, preferential origin (PO) could be the key to boosting European companies’ competitiveness, both on the international market and on their domestic market. Indeed, beyond maintaining or even conquering new markets, the PO enables European companies to regain control of their flows, processes and relationships with their business partners (suppliers, customers, customs representatives), while strengthening the skills of their teams and the reliability of their customs data. However, like Icarus flying too close to the sun, this complex customs concept, based on two of the three pillars of customs (tariff classification and origin), cannot be improvised, at the risk of burning one’s wings. Indeed, the lack of impetus from the CEO, the poor coordination of company departments and the absence of an internal customs function can lead to the opposite effect (i.e., customs fines, confiscation of imported products, loss of strategic business partners, production shutdown, damage their reputation, etc.). So, could the implementation of the PO be a key first step in helping business leaders view customs as a strategic partner and an essential function, enabling them to achieve real savings and contribute to their commercial development?