Trade Finance Global (TFG)’s Post

🌐 Trade digitalization is not just a buzzword, it is a game-changer for the global economy. It can reduce costs, increase speed, simplify processes and enhance sustainability. Check out the recent report released by ICC UK that shows the concrete benefits of trade digitalization. The report reveals how trade digitalization can result in an 🔽 80% reduction in border waiting times, 🔽 30% reduction in operation costs, and 🔽 18% reduction in shipping costs. These are impressive numbers that speak for themselves! 📈 I want to congratulate Chris Southworth and the Commonwealth Secretariat for hosting an inspiring discussion today at the UNCTAD ecommerce week on how to unleash the potential of trade digitalization. They made a very important point: we need to think bigger and go beyond customs. We need to digitalize all the processes involved in cross-border trade, not just customs. And we need global action to adopt MLETR-compliant legislation. This is the only way we can create a more efficient, inclusive, and resilient trading system for the 21st century. 🌍 Let’s seize the moment and unleash the potential of Trade digitalization! 🚀✨ #tradedigitalization #digitaltrade

Today I participated in World Trade Organization webinar on ’Trading Goods in the Digital Era: Improving Import, Export and Transit Procedures’. The meeting gathered 290 WTO Member policy makers from all around the world. In a panel, I presented what we in A.P. Moller - Maersk are doing on trade compliance, end-to-end digitalization & exchange of data with Governent agencies. The panel was moderated in a perfect way by Roy Santana from WTO. I shared the panel with an excellent group of experts like Amy Morgan from Altana, Louise Wiggett from GTS & Sandra Fischer from DHL. Great event, thank you to WTO for arranging this timely webinar. Ralph Ossa Jeffrey Ivinski Bojan Strbanovic Christer Andersson Alexey Shcheglov Pablo G. Ortega Faraudo William Petty Shazana Stotz LUISA FERNANDA H. Matthew Bannon Lucky Molefe Carlos Sueitt Alejandro Escudero Whu Vargas Bryan Stocker Mohamed Raafat #wto #maersk #mcs #gtcc #customs #borders #digitalization #tradefacilitation #tradecompliance #supplychains #valuechains #globalvaluechains #globalsupplychains #security #aeo #simplifications

As the ICC posted this week on LinkedIn, it’s “a wrap on the 2024 C4DTI Digital Trade Conference & Awards”. This year’s event may be over, but now is the time for graft, determination, and collective maximum effort to drive digital adoption forward worldwide. Over the two-day conference, 400 delegates from all over the world joined industry key players, trailblazers, and leaders in their respective fields to kickstart the discussion on how we as an industry do exactly that. Spoiler alert, it’s not going to be easy or a one-size-fits-all fix. Our key takeaways: 🔶 Start small, with tangible results.  🔶 Short, medium, and long-term plans are all needed.  🔶 Agile standardization is needed.  🔶 Trade is looking for predictability across supply chain. 🔶 Resiliences, reduced cost, and simplification - don’t add more, but simplify. 🔶 Trust - has to be built into everything we do as we navigate down the path towards digitalization. Head over to the blog where we unpack our thoughts on all of the above... https://lnkd.in/gbSHThqi Lars Karlsson Peter MacSwiney Jane Smith #digitalsupplychain #c4dti #paperlesssupplychain #globalstandardization #logistics #interoperability

We are looking to support our #members with our suggested policies. They would positively impact our #members in a number of ways; such as access to the right training to close the #skillsgap, #digitalisation of #tradeprocesses and #tailoredsupport approach for #SMEs. #IOEIT #policysuggestions #membersupport #thoughtleadership

William Bain, The Head of Trade Policy for the British Chambers of Commerce, has responded to the launch of the call for evidence on a new trade agreement with Turkiye. William said: “It makes sense to build on the current continuity agreement to negotiate a new bespoke deal which meets the modern needs of business on services’ market access, business travel, digital trade and deeper investment links.” For the next two months, the BCC will be engaging with businesses during the call for evidence. Read the full comments here 👉 https://lnkd.in/eNM9EtTS #UK #Turkiye #trade #digitaltrade #globaltrade #negotiations

📢 If you haven't seen it, The Institute of Export & International Trade recently put forward 7 key policy suggestions to UK government and MPs on how to unlock the #UK's full #trade potential: 1. Tailor support for small #businesses 👷♂️ 2. Develop effective #digitalisation of trade processes 🌐 3. Close the gap in #regional trade disparities 📈 4. Unleash the economic benefits of #ecommerce trade 💻 5. Deliver a trade strategy that ensures a 'just' transition to #netzero ♻ 6. Foster closer global partnerships to secure #supplychain resilience 🌍 7. Address the #skills gap 👩🎓 Swipe below to read the full paper in detail. 👇 #internationaltrade #export

EU secures results at WTO Ministerial but important work remains to reform global trade rulebook The European Commission was instrumental in brokering important outcomes at the 13th ministerial meeting of the World Trade Organization (MC13) that ended last Friday in Abu Dhabi. After a week of intense engagement, EU negotiators secured important agreements on e-commerce, new rules to improve global services trade, environmental cooperation, and strengthening the position of developing countries in the global trading system.

Challenges for the WTO Delegates from 150 countries will gather this week for the WTO conference in Abu Dhabi with some major challenges on which to build consensus. -Duties on Electronic transmissions -Roadmap to tackle global issues -Creating improved dialogue between states Hopefully we will see some positive steps forward to facilitate global trade , sourcing and procurement. #strategicsourcing #supplychain #procurement #supplychainmanagement #wto #china https://lnkd.in/ex39Wuiw

In a world where technology is advancing at breakneck speed, one cannot help but marvel at the potential it holds for international trade. From streamlining customs procedures to opening up new markets for businesses, technology has been a game-changer in the global trade landscape. By utilizing digital tools, companies can not only boost their productivity but also secure a competitive edge in today's cutthroat business environment. But make no mistake; while technology offers substantial advantages, it also presents unique challenges - everything from data security to issues of interoperability. Embracing change is the way forward. We must capitalize on the opportunities while effectively addressing the challenges. The key lies in fostering a robust regulatory framework that keeps pace with technological innovation and promotes cross-border digital trade. As we stand at the cusp of a new era in international trade, I invite you to join me in exploring these uncharted territories. If you're intrigued by the potential of technology in global trade and interested in collaboration or discussion, please feel free to reach out. Together, we can navigate these changes, turn challenges into opportunities, and drive our economies and communities towards unprecedented heights. Let's connect and shape the future of international trade. #internationaltrade #customs #cbp #trade #dhs #collaboration #2024 #bordertrade #commerce #mexico #sat #aduanas