Trends Transforming Trade

Dr Michael Gasiorek is a Senior Lecturer in Economics at the University of Sussex as well as the Co-founder and Managing Director of InterAnalysis Ltd since 2009. InterAnalysis is a University spin-out company focussing on development of the TradeSift software, training and consultancy on trade in goods, services and investment with a particular focus on working with and in developing countries.

Are you ready for when Australia's new Country of Origin labelling laws take effect on 1 July 2018? Need to know if your food is a priority food or not? Whether it has been substantially transformed?

Or are you concerned about the impact the ACCC case against Heinz will have on your marketing? The ACCC is currently targeting the health angle when marketing food products... even when such claims are 100% compliant with the Australia New Zealand Food Standards Code.

As an island nation, Australia's past and future prosperity is closely linked to successes in international trade and investment. In the face of increasing protectionist rhetoric worldwide, the role of trade and investment professionals is now crucial more than ever.

If you are an international trade or investment professional, please join us at Austrade on Thursday 3rd May for a dedicated PIT Speed Networking Session.

This will be an opportunity to meet like-minded peers and to share experiences of facilitating trade and investment between Australia and the rest of the world.

Click here to register

“Trade has been a major contributor to economic growth and poverty reduction, but more can be done to make it even more inclusive.” Ms Lisa McAuley CEO of the Global Trade Professionals Alliance (“GTPA”).

“I was delighted to participate on the recent All Party Parliamentary Group for Trade Out of Poverty with ODI (APPG-TOP with ODI), led by Lord Purvis of the UK and Minister Enelamah of Nigeria and supported by the APPG-TOP Secretariat as well as the group of experts representing various Commonwealth countries.”

Long Finance's Distributed Futures research programme is pleased to announce the publication of the report, "The Economic Impact Of Smart Ledgers On World Trade", the latest in a series of exciting projects in the programme. The report, sponsored by the Cardano Foundation, came as a result of the the Worshipful Company of World Traders and the Distributed Futures' interest in quantifying the potential impact of Smart Ledger technology on international trade. Written by Douglas McWilliams, Cristian Niculescu-Marcu, and Beatriz Cruz from the Centre for Economics and Business Research (Cebr), it includes a Foreword by Michael Parsons FCA, Chairman of Cardano Foundation, and a Preface by Professor Michael Mainelli, Executive Chairman of Z/Yen Group.

Roger Singleton brings a very unique set of skills to this committee in terms of where the GTPA wishes to explore the importance of Industrie 4.0 skills development and competencies.

Roger  is the founder of Riscon Solutions Ltd, an engineering consultancy that specialises in capacity building of staff and organisations to improve performance.

Francis Wong OAM is a leading South Australian entrepreneur who migrated from Brunei in 1988 to establish one of the more awarded national tourism companies in Australia. Since his arrival he has been actively developing positive relationships between Australia and global economies, especially Asia. His global tourism connections have enable him to open many doors for Australian and Asian businesses and establish successful relationships.

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.

Welcome to the second International Freight Forwarding & Customs Broking industry snapshot released by HLB Mann Judd in conjunction with The Australian Federation of International Forwarders and The Front-Line Group.

GTPA is delighted to welcome Marc L Busch as the new Chair of the International Affairs and Trade Policy working committee. Marc will also be involved in providing oversight into the Trade Regulation and Compliance and Trade Law ISO/IEC 17024 competency developments.

Marc L Busch (Ph.D., Columbia University) is the Karl F. Landegger Professor of International Business Diplomacy at the Edmund A. Walsh School of Foreign Service, Professor of Government and Professor of Business Administration at Georgetown University. He is an expert on international trade policy and law.

Lisa McAuley, the CEO of the Global Trade Professionals Alliance (GTPA) was delighted to be part of an Inquiry Committee of distinguished experts that has today published its Final Report examining the potential of the Commonwealth family of 53 nations to help its poorest countries and citizens to trade out of poverty, in line with the values of the Commonwealth Charter and the Sustainable Development Goals.

The Inquiry Committee –– co-chaired by Lord Jeremy Purvis of the UK and Hon. Okechukwu Enelamah, Minister for Industry, Trade and Investment of Nigeria –– was established by the All-Party Parliamentary Group for Trade Out of Poverty and the UK Overseas Development Institute in September last year.

Miss Radika Kumar previously was the Deputy Permanent Head of the Fiji Mission in Geneva and a Commonwealth Trade Adviser under the EU funded Hub and Spoke II programme. She holds a PhD in Economics and International Trade and a Master’s Degree in Economics.

GTPA is pleased to welcome Marco Amprimo to the Young Trade Professionals Working committee.

SynergetiX Management Consulting specializes in assisting companies to shape their China Strategy.

A strong relationship with China is very important to your export prosperity. SynergetiX Management Consulting aims to enhance your Short, Mid & Long-term strategies, set-up business procedures, improve performance, retain and build on the successful links we have developed with Australiasia countries in recent decades.

SynergetiX Management Consulting services clients all over the world with open opportunities to China.

The news that the Department of Home Affairs is planning to introduce a new tax on parcels posted from overseas, under a federal government plan to cover security screening costs, might be seen as a NTM.

One has to ask whether the time is right for Australia to be looking to introduce measures domestically that could be perceived as new taxes on imports. And should this levy be seen as a tax, it could well result in retaliatory measures that would impact on e-commerce opportunities for Australian companies overseas. We acknowledge the importance of increased security and screening and the importance of robust security, but we would like to see whether there is a different way that this could be funded so it does not hurt consumers and business, who will ultimately bear the cost.

GTPA is pleased to announce that Ziyaad Ebrahim has been certified under ISO/IEC 17024 as a Global Trade Professional in the field of Trade Management.

Ziyaad has close to fifteen years of experience in international trade and development.He joined the World Trade Organization (WTO) after serving 12 years in various positions within the Government of Seychelles.

Mr Denton is a legal expert and adviser on global policy, international trade and investment and infrastructure. His advice is sought by Australia’s most prominent corporations and by governments and international bodies alike. Mr Denton is also an Honourary Member of the Global Trade Professionals Alliance (GTPA) and on behalf of the GTPA Board we congratulate him on the new appointment and wish him all the very best in continuing to drive the important work of the ICC on behalf of the business community.

( This article is kindly republished with the permission of FoodLegal and first appeared in the March 2018 edition of its monthly online FoodLegal Bulletin. FoodLegal is an Australian regulatory consultancy specialising in compliance risk assessment, product development compliance strategies, compliance project management for International clients, and product certification assessment for food retailers, exporters, importers, manufacturers, distributors or others: ( https://www.foodlegal.com.au/) ).

The new Country of Origin (Food Labelling) Information Standard 2016 is mandatory from 1 July 2018. The effect of this Information Standard in combination with the Trans-Tasman Mutual Recognition Agreement could enhance a competitive trade advantage for New Zealand food companies over Australian companies globally.

( This article is kindly republished with the permission of FoodLegal and first appeared in the March 2018 edition of its monthly online FoodLegal Bulletin. FoodLegal is an Australian regulatory consultancy specialising in compliance risk assessment, product development compliance strategies, compliance project management for International clients, and product certification assessment for food retailers, exporters, importers, manufacturers, distributors or others: ( https://www.foodlegal.com.au/) ).

FSANZ invites written submissions on draft variations to the Food Standards Code arising from Application A1151 (Beta - Galactosidase)

On 1 March 2018, FSANZ called for written submissions on the draft variation to the Food Standards Code Schedule 18 arising from Application A1151 – Beta – Galactosidase from Papiliotrema terrestris as a Processing Aid (Enzyme).

Written submissions are due by 12 April 2018.

This FoodLegal Symposium focuses on the importance of new traceability protection technologies, databases and regulatory frameworks to protect brand and product integrity and the need to implement countermeasures for food fraud; as well as the opportunities to use similar technologies to create an exciting brand story and enhanced brand reputation.

GTPA welcomes FoodLegal specialises in providing solutions and advice in relation to regulatory issues surrounding the Food Standards Code, Australian Competition and Consumer Act as well as advice in relation to product development and food marketing compliance.

From 1 July this year, low value goods[1] imported from overseas by consumers in Australia will attract Goods and Services Tax (GST).

This means that vendors—including merchants, electronic distribution platform operators and re-deliverers—with sales subject to GST of AUD75,000 or more each year will need to register with the Australian Taxation Office (ATO), collect GST at the point of sale and remit that GST to the ATO.

As this is a tax measure and not a border measure, the ATO is responsible for implementation and all compliance activity.

As trade remains crucial to economic growth globalisation, it is imperative that groups, such as small businesses and women entrepreneurs have access to opportunities from trade.

SMEs are the backbone of most economies and so too are women business owners crucial to economic growth. According to research by McKinsey, the consultancy, advancing women's equality could add $28 trillion to global GDP by 2025 – equivalent to adding a new United States and China.

“We need to collectively do more to support and drive greater engagement by women as business leaders and encourage their participation in global markets and we also need to do more to promote the opportunities for young women to develop career paths in global trade. Certain areas of trade support services, such as trade finance, logistics, supply chain management, customs and freight forwarding, have traditionally seen low levels of participation by women; this needs to change.” Ms Lisa McAuley, CEO of the GTPA said.

As trade remains crucial to economic growth globalisation, it is imperative that groups, such as small businesses and women entrepreneurs have access to opportunities from trade.

SMEs are the backbone of most economies and so too are women business owners crucial to economic growth. According to research by McKinsey, the consultancy, advancing women's equality could add $28 trillion to global GDP by 2025 – equivalent to adding a new United States and China.

“We need to collectively do more to support and drive greater engagement by women as business leaders and encourage their participation in global markets and we also need to do more to promote the opportunities for young women to develop career paths in global trade. Certain areas of trade support services, such as trade finance, logistics, supply chain management, customs and freight forwarding, have traditionally seen low levels of participation by women; this needs to change.” Ms Lisa McAuley, CEO of the GTPA said.

The Global Trade Professionals Alliance (GTPA) is pleased to announce a new alliance with the Professionals in International Trade (PIT), which was relaunched under a new name and branding at a special networking event hosted by KPMG in Sydney, Australia this morning.

PIT is a professional networking group based in Sydney, Australia with a mission to connect and support like-minded individuals who work and share a common interest in international trade & investment, business and foreign affairs.

“Our aim is to help professionals to foster long term relationships, trust and opportunities for business, discussion and collaboration. PIT achieves the mission through a range of activities designed to connect, promote and develop international trade professionals.” said Daniel Spencer, Executive Chairman of PIT.

Susan Danks is the Director of Tariff Consulting Pty Ltd and Vice Chair, Customs Brokers and Forwarders Council of Australia. Susan has in excess of thirty years’ experience in Customs and indirect taxation, including as a Customs Officer with more than 9 years’ experience in imports, cargo & investigations. She has worked for a Royal Commission and the Industries Commission in addition to other roles as consultant, customs broker and customs manager within industry.

Developments in international trade over the last year and beyond, including those related to NAFTA and the TPP, implications of Brexit on trade, and more recently, the risk of triggering trade wars through unjustified tariffs, combine to drive a call for informed, fact-based and thoughtful dialogue. Trumped-up justifications based on alleged national security concerns set a dangerous precedent, putting at risk the progress achieved over decades in advancing rules-based trade to which most of the globe adheres today.

The benefits of international trade are currently the subject of debate in various contexts, however, it has long been demonstrated that, even with its systemic imperfections which must be acknowledged, trade has been a powerful driver for economic value creation, inclusion and poverty reduction, as well as peace and security.

Trade has, until the peak of the global crisis, grown at rates that exceed the pace of global GDP growth, and thus has also been referenced as a driver of growth of the global economy.

Are you exploring opportunities to expand your business into global markets? If the answer is yes, this could be your chance!

OFX (previously OzForex), in partnership with 2GB are offering one lucky business a money-can’t- buy opportunity to use some of Australia’s most prestigious global business leaders as their personal business coach at an intimate 2-hour workshop held in Sydney CBD at OFX HQ.

As the Executive Director of the GTPA I have worked in international trade for over a decade, focused on supporting SMEs to build their capacity and capability to engage in global trade. During my time as the CEO of the ECA it was our goal to support SME’s to successfully compete on the global stage. This was achieved through the support of the Government and the private sector. At the ECA we engaged in activities such as skills development, research, the development of online tools as well as trade policy and advocacy.

On the occasion of PIT's relaunch under new branding, GTPA is pleased to partner with Polyglot and KPMG to invite you to hear from an experienced panel on The Future of Skills and Trade in the Digital Economy.

A recurring challenge in deliberations related to MSME engagement in international markets, including in the context of global supply chain ecosystems and in deliberations related to policy solutions aimed at enabling such engagement is, in the first instance, to understand what qualifies as an MSME.

BANGKOK--Digital technologies have the potential to transform business in ASEAN. McKinsey Global Institute has estimated the total impact of technologies such as mobile internet, big data, cloud technology, and the Internet of Things, could unleash up to US$625 billion in annual economic impact in ASEAN by 2030.

Southeast Asia is one of the world’s fastest growing regions, and Australian businesses are perfectly placed to make the most of the tremendous opportunities the ASEAN market offers.

Crafting appropriate rules and regulations to account for the growing importance of information and data is more challenging than it first appears. In Asia, governments are struggling to manage conflicting demands without having an overarching institutional framework.

The GTPA is pleased to announce that Mr Grame Barty has been appointed to drive this initiative within the GTPA as well as to Chair the GTPA’s new working committee on e-Commerce and Digital Services. The committee has been established to provide advice to GTPA on the development of competency standards for trade professionals, leading ongoing research, developing programs that can be shared through the GTPA network to build capability and capacity in this field, as well as advocacy pertaining to global issues for e-Commerce and Digital Services globally.

As Bloomberg reported yesterday, rising trade tensions have made it more imperative than ever that companies remain engaged in crafting sensible trade and regulatory policies. Getting that job done, however, is unusually challenging in Asia. While there are many excellent organizations at different levels in the region—within some individual countries, across ASEAN and within APEC—what has been lacking is an institutional framework to collectively gather business input from Asia as a whole. Hence the need for a new grouping—the Asia Business Trade Association (ABTA). ABTA is a non-profit society, registered out of Singapore, to unite large and small firms from all across Asia in crafting a collective voice for companies on trade and regulatory issues.

It has been widely researched and broadly acknowledged that SMEs and micro-enterprises are important drivers of economic value-creation around the world, whether in developing markets or OECD economies. Similarly, the character of international trade as an engine of growth was axiomatic for decades prior to the global crisis.

The Global Trade Professionals Alliance is pleased to announce that Andrew Hudson will Chair the GTPA’s new Trade Law working committee. Andrew Hudson is a Partner at Rigby Cooke Lawyers in the Litigation team, with significant expertise across international trade law and customs. Andrew is a trusted and highly-regarded industry adviser to businesses, industry associations, other peak bodies and Government, and regularly consults on legal and trade developments that affect Australian and international businesses.

The 11 members of the Trans-Pacific Partnership (TPP) wrapped up the final negotiations on the trade agreement this week in Tokyo. The TPP11 or Comprehensive and Progressive TPP (CPTPP) is set for formal signature on March 8 in Chile. Most businesses will not be prepared. Many firms expected the agreement to fade away. Hence, few have made contingency plans for implementation. Now, the clock is ticking before the agreement takes effect starting in late 2018 or early 2019. Nearly all of TPP11 begins on the very first day (entry into force or EIF), including all market opening for services, investment, most changes in customs procedures, the majority of tariff cuts and more. Most of TPP11 is identical to what was negotiated originally. The majority of the deal remains intact.

In its first year the Trade Regulation and Compliance committee will oversee the development of the ISO/IEC 17024 competency standards on the development of the ISO/IEC 17024 competency standards related to Trade Regulation and Compliance, which will be launched globally in October this year. The Global Trade Professional Programme (GTP) developed under ISO/IEC 17024 will provide the only global pathway for professional experts in the field of Trade Regulation and Compliance to obtain globally recognised certification as a GTP- Trade Regulation and Compliance expert.