Trends Transforming Trade

Free trade was under fire before the Brexit vote and the 2016 American presidential election. Non-tariff barriers were already on the rise in the years following the global financial crisis and contributed to growth in global trade flows falling behind that of global GDP growth for only the second time in more than two decades. There were some bright spots, including the completion of large-scale bilateral and regional free trade agreements, but those were also a further sign of the WTO’s diminished capability to function as a forum for advancing multilateral trade liberalisation. The new threats to trade arising from rising populism and disruptive technologies are, in other words, accelerating existing trends and seeding new ones.

Trade is at the heart of the geopolitical tensions between America and China, an issue that is dominating international headlines. In the meantime, technology is disrupting trade like never before, making processes more efficient and inclusive. And many regional and bilateral trade agreements are advancing.

The Asia Trade Summit will address these topics, and more, and give the audience a complete assessment of trade-related developments in the region.

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The Global Trade Professionals Alliance (GTPA) and our affiliate professional services arm, GTPServices, have had an outstanding first year since our launch at the periphery of the WTO Ministerial in Buenos Aires last December. We have been privileged to attract world-class contributors and community members from around the globe, and to be invited to contribute on a variety of fronts – training and certification, program development, policy, advisory and research among others – across four continents.

“Mwana, it is just too much! My small team of textile and clothing workers can’t keep up with all the standards the EU and other countries are demanding – how can a small business like ours, export and be profitable?” exclaims a frustrated Flora Banda who heads up a small cotton textile exporting business in Lusaka, Zambia, employing sixteen women workers.

This week the GTPA was delighted to partner with the EIF Initiative and DHL on a session focussed on building skills for the digital economy through education, interaction & advocacy as part of Africa Ecommerce Week in Nairobi, Kenya.

This interactive session with representatives from across Africa, with voices from the private sector, government and industry, produced a lively discussion on key issues, from addressing trade opportunities to the concerns around Africa engaging in the digital economy.

The GTPA is delighted to partner with the EIF Programme on a session focussed on building skills for the digital economy through education, interaction & advocacy as part of Africa eCommerce Week.

The Africa eCommerce Week will be jointly organized with the African Union and the European Union. The event is hosted by the Government of Kenya and implemented in collaboration with partners of the ‘eTrade for All’ initiative.

Craig Weeks is an independent consultant for organizations needing Trade Finance and other Transaction Banking expertise. Craig is currently contracted to work for IFC/World Bank as a Trade Finance SME for FIG Advisory assignments in Latin America.

Trade has always been shaped by technological innovation. In recent times, a new technology, Blockchain, has been greeted by many as the next big game-changer. Can Blockchain revolutionize international trade?

The publication introduces the technology with a basic explanation of how, as a tamper-proof, decentralized record of transactions, it allows participants to collaborate and build trust with each other. It describes different classifications of Blockchains and their current and possible applications in the various areas covered by WTO rules. In doing so, it provides an insight into the extent to which this technology could help with trade facilitation, including how it can hasten the transition to paperless trade transactions. It considers Blockchain's potential and limits in transforming services by looking at payment systems, insurance and the automation of contracts. The publication also discusses how Blockchain could help ease the administration of intellectual property rights and enhance government procurement processes.

The rapid pace and scale of technological change and global flows of information, among other forces, are disrupting labour markets and fundamentally altering the future of work. While these shifts may create economic growth, new jobs and flexible work, they may also lead to the automation and consequent disappearance of routine, manual roles.

Technological advancements, despite the disruption, also create opportunities for expansion into global markets for sectors of the population excluded from more traditional trade mechanisms.

Roberto Azevedo, Director General of the World Trade Organization (WTO) and John W.H. Denton AO, Secretary General of the International Chamber of Commerce launched the Global Dialogue on Trade at the World Bank and International Monetary Fund annual meetings in Bali, Indonesia on 10 October 2018.

Thoughtful, fact-based and informed dialogue on trade is fundamental to assuring a robust and more inclusive model for trade around the world, as well as to demonstrably contributing to peace and security through engagement and mutual prosperity. Leadership today requires vision and courage, and the integrity to do more than pander to narrow interests and narrow views of the world.

The Economist recently ran a gratifying headline for any Australian – Aussie Rules! What the rest of the world can learn from Australia. We’ve been growing or 27 years without a recession. While commodities exports and decent long term economic policy matters, the report also highlighted Australia’s internationalised human capital system at the forefront of this performance.

The GTPA has been on the road the last couple of weeks. Our first stop was in Argentina for meetings with local associations representing the needs of importers and exporters as well as catching up with potential university partners. We were delighted to be able to catch up again with the Australian Ambassador, the Hon Noel Campbell and others at the Australian embassy.

GTPA is delighted to support the Global Trade Accelerator (GTA) Program for NSW exporters this November (program dates Monday, 26 November 2018 to Friday, 7 December 2018).

The Global Trade Accelerator Program (GTA) is a virtual program enabling NSW based exporters and trade professionals to gain market research advice from teams of international university students and supported by the ECA and City of Sydney as well as the NSW Government.

La Oficina Comercial de Perú en Australia, la Cámara de Comercio de Lima y el Global Trade Professionals Alliance (GTPA) le invita al almuerzo para celebrar el lanzamiento del primer taller de GTPA, “Creando Oportunidades en Australia para Empresas Peruanas de Industrias Creativas”.

El almuerzo será una oportunidad única de conocer Profesionales en comercio exterior de Australia y aprender más sobre el mercado australiano y como crecer su negocio internacionalmente.

Trabajando en conjunto con socios peruanos, GTPA desea presentarles el modelo GTPA y los nuevos estándares para Profesionales en comercio exterior.

The Trade Commission of Peru in Australia, the Lima Chamber of Commerce and the Global Trade Professionals Alliance (GTPA) invite you to join us for a luncheon in celebration of the launch of the first GTPA workshop,Creating Opportunities for Peruvian Companies in the Creative Services in Australia.

The luncheon will be an exclusive opportunity to meet with Australian trade professionals in order to learn more about the Australian market and how to advance your opportunities to grow internationally.

Working with local partners in Peru, the GTPA wishes to introduce you to the GTPA ecosystem as well as the brand new ISO standards for Global Trade Professionals.

Ms Lisa McAuley was recently invited to join the Group of Producing Countries from the Southern Cone (GPS) as part of the WTO Public Forum 2018 to discuss linking food production systems, environment, food security and international trade.

The focus of our panel discussion was to incorporate the considerations of the interrelationships between food production systems, food security, climate change and trade to progress in building shared visions and in guiding the actions of global governance bodies towards the implementation of actions needed to achieve more ambitious targets for food security and climate change mitigation.

Exporting online presents exciting opportunities for Australian & New Zealand businesses thinking of expanding to new markets and the value of online sales is expected to grow to $16.2 trillion.

For small businesses and particularly for companies located in regional areas this presents a unique opportunity to enter new global markets that might never have been possible in the past.

What is RISCON?

Riscon Solutions Limited is a UK global consulting company specialising in information and knowledge management.

The intersection between trade systems and the digital economy may not be obvious but it is vitally important.

As a significant financier of trade flows in the Asia-Pacific region, efficiency in the ‘wiring’ of trade is essential to ANZ’s presence in over 20 countries in the region.

"Improvement is about eliminating the use and delivery of paper-based documentation which in turn creates greater efficiency and ensures greater security through the supply chain”

Supply chains around the world are the arteries of global commerce, enabling trade flows worth tens of trillions of dollars annually in merchandise and services trade alone.

The GTPA is pleased to partner with Opus Learning Institute, the International Trade Council, InterAnalysis and the University of Sussex to introduce a brand-new Executive Bootcamp for trade and supply chain professionals.

This exclusive programme provides the gold standard in skill and competency development for individuals and institutions in the professional practice of trade-related disciplines.

Given the current uncertainty around traditional trading partnerships for Canadian business, this programme will assist companies to look towards alternative market options and new trade corridors. It will also prepare your business to manage trade uncertainty.

CLICK HERE TO DOWNLOAD COURSE PROGRAMME         

GTPA was pleased to participate in the GTR Asia Trade & Treasury Conference in Singapore at Marina Bay Sands from the 4-7 September 2018. Over 1,000 delegates attended the conference, which is now firmly established as the largest international event in the trade, treasury and commodity finance market.

Joining the GTPA for the panel discussion to launch the upcoming new specialisation for Trade Finance and Supply Chain Finance Professionals were Mr Alexander R, Malaket, Chair, International and Technical Advisory Committee, GTPA, Mr Tristram Travers, technical Director of the GTPA and Anushka Wijesinha, Advisor to the Ministry of Development Strategies and International Trade (MODSIT) in Sri Lanka.

CEO of the GTPA and former CEO of the Export Council of Australia, Lisa McAuley says, “Increasing trade and investment is absolutely crucial to unlocking the opportunities for the 11 countries involved in the agreement. The TPP-11 is an important step forward at a time when the benefits of international trade are currently the subject of debate in various contexts.”

New modelling undertaken by economists from Brandeis International Business School and Johns Hopkins University highlighted that Australia is forecast to see $15.6 billion in net annual benefits to national income by 2030 and increases in exports of $29.9 billion as a result of the TPP-11. Consequently, the GTPA supports the bipartisan support for the ratification of the agreement.

GTPA is a new global trade ecosystem to advance and support businesses, trade organisations and professionals engaged in global trade.

GTPA is the only organisation globally to develop the international standard for certifying trade professionals. The Global Trade Professional (GTP) Programme, has been developed under ISO/IEC 17024, for the certification of professional competence in the field of global trade.

Our goal is to bring people together to build professional capabilities in trade, elevate the profile of trade, advocate the benefits and opportunities of trade, facilitate networking at a global level as well as to improve the performance and success of companies in global trade which will in turn boost the efficiency of trade processes.

My Freight Career is a Registered Training Organisation (RTO 90489) and Quality Group Training Organisation (GTO) specialising in providing quality training and trainees to the International Freight Forwarding, Customs Broking, Logistics and Aviation industries.

FRMSTAFF is an Australian owned company, specialising in recruitment services for the International Freight Forwarding, Customs Broking, Logistics, Shipping and Aviation industries.

The Chain of Responsibility legislation is designed to make sure all people are held responsible if their actions, inactions or demands contribute to a breach of road safety.

My Freight Career is a national company providing industry focused training for the Logistics and Freight Forwarding industry. Training can be provided as a subject overview or provide in depth and detailed information. They offer a wide range of courses that are ready to deliver or they can tailor a bespoke course to fit your specific needs.

The GTPA announces the upcoming launch of the global ISO 17024 specialisation for Trade Finance and Supply Chain Finance Specialists.

The business of trade financing has earned unprecedented profile and visibility over the last several years in particular, yet this fundamentally important enabler of international commerce has an urgent need to attract the next generation of energetic and committed practitioners. In this context, an ISO-aligned specialisation in trade finance and supply chain finance is an important evolution in the practice of trade financing.

I am delighted to announce on behalf of the GTPA, that David Winterton based in Australia has joined the Trade Finance and Supply Chain Finance Working Committee.

David leads a team of Trade and Supply Chain specialists who provide ANZ clients structuring advice for their short-term liquidity requirements and risk mitigation solutions to assist in their effective management of both domestic and cross-border trade flows and is particularly passionate in providing SME support on the direction of Trade Finance in a digital world.