Stevensville, MD, September 03, 2014 --(PR.com
)-- The company continues to analyze the marketplace carefully and in this analysis has explored the potential impact of the delay in World Trade Organization treaty ratification on the mechanical components and assemblies industry.
Indian Prime Minister Narenda Modi has recently played a crucial role in delaying the ratification of a new WTO agreement that would set in place standards for the global production and movement of a range of products. While the delays within the current agreement are thought to be related to India’s wish to hold onto their vast reserves of crops and food products, the impact could spread to a range of industries, including the components and assemblies manufacturing field. Now, the team at powder coating services
experts Michigan Manufacturing International is analyzing the potential impact of this delay.
The WTO Agreement on Trade Facilitation is said to be a breakthrough deal for global commerce. It’s an agreement that would remove large amounts of red tape from export and import processes and streamline customs procedures. North American companies welcomed the deal as a means to remove many of the challenges of competing within emerging markets, such as China, India, and Brazil. The deal could be worth trillions of dollars in future income to those within the mechanical components and assemblies manufacturing field. And while the delay within the agreement is still in-place, many within the market remain focused on readying their products for sales on the international marketplace.
To learn more on the full impact of the World Trade Organization legislation, please contact the offices of Michigan Manufacturing International directly or visit their business website at www.michmfg.com.