Cassels Brock lawyer Lawrence Herman provides 'how to' in new book on international trade
TORONTO, May 26 /CNW/ - As tensions between North and South Korea once again escalate, pressure is mounting for international economic and trade sanctions. But, many Canadian businesses may not see the relevancy. That would be a mistake, warns Cassels Brock lawyer Lawrence Herman.
The new rules of engagement for Canadian business include staying on top of rapidly shifting international relations to allow for global transactions. That's because there are criminal penalties for companies breaching Canadian laws in this area, explains Mr. Herman in his new book 'Export Controls & Economic Sanctions: A Guide to Canadian Trade Restrictions'.
"Canada has an open economy based on the underlying free-trade principles of the World Trade Organization Agreement, but it also controls exports and imports of strategically sensitive items for national security purposes," notes Mr. Herman. "Canadian companies must understand their obligations regarding the conduct of business in the international marketplace."
Equally significant are Canada's economic sanctions applied against rogue and failed States and international terrorist organizations, lists that are continually changing to meet changes in international circumstances, including the enforcement of United Nations resolutions.
The first of its kind in Canada, Mr. Herman's book provides guidance on how to complete global transactions within the limits of Canadian and international trade restrictions, controls and sanctions. It also contains a comprehensive review of less well known trade prohibitions which may have an equally critical impact on Canadian business operations.
"The international situation today is increasingly volatile. Nothing should be taken for granted. It may seem an obvious point, but businesses engaged in international trade and commerce, including banks, need to constantly monitor Canada's policies, statutes, regulations and notices to ensure full compliance with these restrictions," Mr. Herman added.
Mr. Herman's practice focuses on international trade and international business transactions. He has acted for private sector clients, governments and international agencies. He is currently the chair of the Trade Policy Committee of the Canadian Manufacturers and Exporters as well as a member of the Executive Board of the Canada-U.S. Law Institute. Mr. Herman was appointed Director, Task Force on Trade and Investment Rules of the World Energy Council, London, U.K., in 2007. His book is available at http://www.carswell.com/description.asp?docid=6558 order No. 978-0-7798-2283-6
About Cassels Brock
Cassels Brock & Blackwell LLP (www.casselsbrock.com) is a full-service law firm with more than 200 lawyers working in its Toronto office. The firm provides legal advice to clients including entrepreneurs, mid-market enterprises and multinational corporations.
SOURCE Cassels Brock & Blackwell LLP
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