November 2, 2006
Kelley Drye assisted Ocean Spray Cranberries, Inc. in obtaining a favorable change to the North American Free Trade Agreement (NAFTA). After more than a year of negotiations between the United States, Canada, and Mexico, President Bush officially implemented the change to NAFTA that will further liberalize trade between the three countries.
"The new rules are of great benefit to Ocean Spray and represent an important step toward achieving NAFTA's ultimate goal of free and fair trade within the North American continent."
The modified rules of the free trade agreement provide for more favorable treatment of the high-quality cranberry juice products that Ocean Spray produces and sells in the NAFTA region. Specifically, these new rules will help promote Ocean Spray’s North American operations and give the company greater access to NAFTA markets.
"The rule changes will provide immediate parity to cranberry-based juice products blended in the NAFTA region and will therefore reduce the overall transaction costs of doing business amongst the NAFTA countries for Ocean Spray," said Lisa Hill, Customs Compliance Manager at Ocean Spray. "In the rapidly changing global trade environment, it is critical that Ocean Spray take advantage of the opportunities afforded by trade agreements."