When a company decides to market products globally, a large and sometimes bewildering set of regulations must be observed. Gaining a thorough understanding of applicable regulations, which can vary on a country-by-country basis and are subject to change, is critical for success. The International Trade Task Force was established to provide members of the Hydraulic Institute (HI) and the Valve Manufacturers Association (VMA) with the information and the clout they need to negotiate the labyrinth of international trade regulations as they apply to the pump and valve industries.
In August of 2005, the HI Board of Directors approved a resolution to establish an Export Control Task Force with an annual fee for each participating member company. In 2006 the scope of the task force was expanded to include valves and members of the Valve Manufacturers Association were invited to participate. The committee meets approximately once per month by teleconference to discuss topics with the appointed Legal Counsel and to hear speakers from the various agencies including the Department of Commerce, Bureau of Industry Security, and Nuclear Regulatory Commission.
The International Trade Task Force provides HI and VMA members with an array of resources that will help them understand and observe applicable regulations so that they can compete successfully in global markets. These resources provide the following benefits to members:
Represents international trade (i.e. export control, customs, international anti corruption) interests of HI and VMA members who have chosen to affiliate with the International Trade Task Force (ITTF) for its stated purposes. Functions include education, best practices, and government liaison.
Pumps, valves, pump and valve components* and pumping systems subject to international trade regulation by the U.S. government.
*Export controls cover complete products and certain pump casings, pump bodies, casing liners, impellers, rotors and jet pump nozzles, and valve bodies and preformed casing liners for valves.
Open to any HI or VMA member company, and their duly appointed representative(s) with expertise or interest in international trade compliance, based on payment of an annual fee to support professional export control representation in Washington, D.C. and associated administrative efforts of HI staff in supporting the committee. Representation on the International Trade Task Force is limited to HI and VMA member companies as a unique benefit of their association membership.
As the situation rapidly changes, please visit https://www.kelleydrye.com/russia-sanctions for the most recent updates and ‘explainers’ regarding U.S., EU, UK and other country trade sanctions against Russia in response to the invasion of Ukraine.