Trends Transforming Trade

Australia and the United Kingdom launched negotiations for a free trade agreement (FTA) on 17 June 2020. Both sides committed to an ambitious and comprehensive agreement that covers services, investment and digital trade. With an agreement-in-principle now in place, the focus turns to how to maximise the benefits of the agreement and the future of Australia-UK services trade.

When Accenture surveyed more than 700 members of the United Nations Global Compact on sustainable business practices, 96% of CEOs agreed that sustainability should be integrated into all aspects of strategy and operations. And 88% of them singled out the value chain as an area of specific importance. Yet only 54% of those CEOs affirmed that they had actually achieved value chain sustainability, while other evidence strongly suggests that their suppliers are still serious sustainability laggards. (https://www.accenture.com/au-en/insight-outlook-why-sustainable-Value-chain-is-good-business)

It is apparent that part of the problem in building sustainable value chains lies in not having recognized standards covering all aspects of sustainability to which all organisations can adhere.

Accenture, Amazon, CompTIA, GTPA, International Chamber of Commerce (ICC), Inveniam, KYG.Trade, Origin Experts, Skuchain, Thomson Reuters, and Others Lead Open Source Movement for Exchanging Attestation Message Sets. OASIS Open announced the formation of OriginBX OASIS, an international movement to advance open source product and trade data standards for facilitating digital tax and trade attestations. The OriginBX OASIS message sets will be interoperable among legacy systems and blockchain platforms.

The Cyber Readiness Institute (CRI) is excited to introduce the first comprehensive professional credential program designed to train cyber leaders in small and medium-sized businesses to help secure supply chains and reduce the risk of a cyber attack. The free Cyber Leader Certification Program teaches practical cybersecurity skills and how to influence behavior in an organization.

The Cyber Readiness Institute has released a White Paper urging the Biden Administration to address specific cyber readiness challenges that small and medium-sized businesses face. The paper recommends the following:

• Create a national awareness campaign to promote cyber readiness for SMBs
• Create a cybersecurity resource center for SMBs within the federal government
• Offer tax credits to encourage SMBs to invest in cybersecurity
• Establish public/private collaboration to set minimum standards for cybersecurity
• Create government-funded Cyber Squads, in collaboration with community and 4-year colleges

In the first 100 days of the Biden Presidency, his administration has acted in ways that indicate a significant amount of continuity in trade policy with the previous administration. Tariffs and technology restrictions initiated by the Trump administration remain in place, as does the block on the WTO Appellate Body, while the new United States Trade Representative has highlighted a need for trade to serve workers, rather than globalized firms seeking to arbitrage labor costs. On the other hand, Biden has expressed the importance of a rules-based order and multilateralism, marking a distinct break from the unilateralist world of Trump. What then, is the likely path to be charted by Biden’s trade policy?

NSW businesses are invited to a unique program to support growth through e-commerce.

One of the unique aspects of the Adaptive Leadership in a Globalised World programme is that participants in the upcoming first course will drive their knowledge growth through a simulated business case study. The case study will use contemporary, real-life scenarios to apply practical skills and knowledge; business mentoring will be provided throughout the simulation. Our participants will be in teams of five and they will be partnered with people globally, with different levels of experience and from different roles. For example, we will pair a policy expert in government with people operating in global businesses. The teams will all resume different roles within the company and will be responsible for driving strategy and growth to report back to our board!

Join the Cyber Readiness Institute and Marsh McLennan on May 24 at 2-3 PM ET for a town hall that will explore an important issue for SMBs–cyber insurance. This is an opportunity to hear from SMB panelists about the key questions to ask your cyber insurance provider and the considerations you should take into account as you craft a cyber insurance policy. Attendees will have an opportunity to ask questions of the panelists.

NSW businesses are invited to a unique program to support growth through e-commerce.

Global Trade Professionals Alliance (GTPA) will facilitate a transformative capability development program for NSW businesses which is experiential and engaging, and includes:

• Business e-commerce readiness assessment: conduct a rapid self-assessment. The results will allow businesses to plot actions to improve their opportunities via e-commerce and online sales channels.
• Online webinar series: webinar-based training, providing capability and knowledge in sequential chunks.
• Mentoring: access to a mentor to help develop an e-commerce strategy, leveraging all components of the program.
• Incentive and credentialing: All participating businesses will get access to the trust mark, Safe.Shop. Safe.Shop is a global e-commerce trust mark aimed at facilitating global digital trade. The mark is the product of the 20-country defined global e-commerce Code, which is a universal set of rules for online selling to consumers.

“As the world becomes more immersed in and dependent on the information revolution, the pace of intrusions, disruptions, manipulations, and thefts also quickens. Technological advancement is outpacing security and will continue to do so unless we change how we approach and implement cybersecurity strategies and practices. Recent attacks in which everyday consumer devices were compromised for malicious use have made it abundantly clear that we now live in a much more interdependent world.”— Commission on Enhancing National Cybersecurity, Report on Securing and Growing the Digital Economy, December 1, 2016

Tourism, apparel and sustainable development strategies are covered in new series of policy briefs from the Enhanced Integrated Framework

International trade can be a powerful tool for least developed countries (LDCs) to reduce poverty and spur economic growth. But it is not a blanket solution.

Driven by disruptions such as COVID-19 and the resulting worldwide economic slowdown, GVCs – and broader supply chains – are facing pressures for rapid transformation.

In the face of this transformation, and as we look toward economic recovery from the current crisis, now is the ideal time to better pair the needs of businesses in value and supply chains with government policies and recovery programs.

Crises of this magnitude offer an opportunity for reflection as reconstruction and recovery begins: The APEC Global Supply Chains Industry and Government Survey report

The international trading system as it stood pre-Covid-19 pandemic was inherently imbalanced, unstable and did not provide opportunities for all strata of society to benefit from the gains from trade.

Following the success of the inaugural virtual event in October 2020, GTR East Africa will return once again in digital form for 2021, taking place on May 12-13, 2021.

Utilising GTR’s bespoke virtual event platform, this online gathering promises expansive networking and a comprehensive programme of live and on-demand content, welcoming the leading practitioners in trade, agribusiness, supply chain and commodity finance.

Join industry experts from across the region to explore the latest developments, strategies and solutions employed to drive East Africa’s covid response, trade growth, and economic recovery.

Singapore, 20 April: The International Chamber of Commerce (ICC) Academy has refreshed its flagship trade finance and international business certifications – the Global Trade Certificate (GTC), Export/Import Certificate (EIC), and Incoterms® 2020 Certificate (INCO) – with new features and functionalities to ensure improved learning experience. The curriculum promotes the most current research-based best practices and allows professionals, in more than 170 countries, to keep pace with the international trade landscape.

Singapore, 26 April: Building on the success of our women in trade finance series, we are now set to expand and highlight outstanding women in trade. The dynamic new series will provide insights into our alumnus’ professional journey and milestones; their role and responsibilities within their present-day positions; and how the ICC Academy’s industry-validated professional qualification in international business and regulation and compliance helped them take their careers to the next level.

Now more than ever we need to support our MSMEs to engage in global trade through global supply chain opportunities: The APEC Global Supply Chains SME Survey report

Micro to Small and Medium Enterprises (MSMEs) play a major role in the global economy.

As of 1 January 2021, the United Kingdom (UK) ceased to be a member of Europe’s Single Market and Customs Union. In addition, the UK announced that it is seeking to join the Comprehensive and Progressive Trans-Pacific Partnership (the CPTPP). There are virtually no businesses trading between the UK, Europe and Australasia which won’t need to make changes as a result of these seismic market shifts – the question for business and government policy-makers is, what do these changes mean at both a strategic level, and also at the day-to-day operational level?

With the UK leaving the EU and focusing further afield, to the Pacific and Australasia, there are many trading opportunities, but also new challenges: changing trade formalities and regulatory controls, shifts in legal frameworks, as well as revised trade and competition standards.

Special and Differential Treatment (SDT) is a set of legal provisions that exempts developing countries from some of the binding commitments that comes with World Trade Organization membership. SDT also allows developed countries to unilaterally ‘discriminate’ in favour of developing countries in bilateral trade agreements. As such, SDT acknowledges that countries at different stages of development need different rules to support economic growth. However, since it involves favourable treatment for ‘developing’ countries, and since countries self-designate their status as ‘developing’, SDT has often been a contested matter in the WTO.

Global value chains (GVCs) are a crucial component of international trade, with more than two-thirds of global trade passing through them: The APEC Global Supply Chains highlights report

Global value chains (GVCs) are a crucial component of international trade, with more than two-thirds of global trade passing through them.

Driven by disruptions such as COVID-19 and the resulting worldwide economic slowdown, GVCs – and broader supply chains – are facing pressures for rapid transformation.

KEY TRENDS REPORT

To celebrate International Women’s Day this year, the Global Trade Professionals Alliance (GTPA), the Institute for International Trade (IIT)/The University of Adelaide, and the University of Sussex made available four scholarships for women business leaders to complete the first ever Adaptive Trade Leadership in a Globalised World programme.

In Q1 2021, GTR hosted a roundtable discussion that brought together several industry players to examine the impact of the Covid-19 pandemic on the incorporation of ESG in trade finance, and the role that the financing community must play in ensuring that progress continues to be made.

The Business Council of Canada and Canadian Federation of Independent Business, in partnership with the Government of Canada, are pleased to invite you to join business leaders and government officials from the Ottawa Group in a virtual roundtable, “Making the WTO More Small Business Friendly” on Tuesday April 27 from 8:00-9:30 am (ET).

Over the past 12 months businesses have faced remarkable challenges due to the COVID-19 pandemic and the necessary steps to curb its spread. Many were forced – through legislation or circumstance – to close their doors, some bravely soldiered on while also doing their best to help support their communities. And still others managed to not just survive, but grow through agile thinking, innovative practices, and adapting to their changing circumstances.

These businesses need to be applauded. They should have their unconventional genius acknowledged! And that’s why the GTPA is launching the “GTPA Business Resilience Awards”!

This is the first guide in a five-part series on using outside firms to reduce your cybersecurity risk.

If you are like most small business owners or managers, you wear many hats. Your focus is usually on the fundamentals of managing and building your business. You know that cybersecurity is an area of growing risk because there’s been more news about it – especially more news about cyber threats and attacks. Cybersecurity is multifaceted. Yes, firewalls and spam filters help, but you also need a well-educated workforce that is aware of the basic elements of cybersecurity. The Cyber Readiness Institute focuses on human behavior and education to create a culture of security within every organization. After all, it just takes one misguided click on a phishing link to potentially bring down your business. If this sounds overwhelming, it is okay to seek out guidance. This five-part series from the Cyber Readiness Institute in consultation with its Small Business Advisory Council will help guide you through the process of determining if you need outside help and if so, how to get it.

Like many small businesses, you’ve come to the conclusion that you need outside information technology (IT) and cybersecurity support. Maybe you’ve been hearing about more cybersecurity breaches in the news. Maybe you know a company that had a ransomware attack. If you still are not sure whether you need help, take a look at the first guide in this series, “Should I Get Outside Support for Managing My Cybersecurity Risk?”

We acknowledge the unique contribution to society, culture, art and international trade made by the world’s First Nations, who were also its first traders.

The unique contributions and also challenges faced by our First Nations is highlighted in the GTPA’s Festival of Inclusive Trade.

AUSTRALIA'S SERVICES EXPORTS ACTION PLAN

Technological innovation influences mission-critical applications in business processes and the manufacturing and technology companies that take the risk and are early adopters of new technology will be rewarded for their progressive decision-making. Since, digitization helps to ensure product quality and safety, as well as faster service delivery, it ensures to go a long way with customers. This has made the IoT adaptation the need of hour!

Due to the pandemic most of the organizations are working remotely, IoT & cybersecurity has turned out to be an enabler to sustain and improve consistency. We at MarketsandMarkets are putting together a virtual platform, to deliver the key industry attributes in form user-based case studies for and from the tech world on 23rd & 24th September 2021.

Micro, small and medium-sized enterprises (MSMEs) are the backbone of the economy, representing 95 per cent of all companies worldwide and accounting for 60 per cent of employment. They are fundamental to the day-to-day provision of goods and services around the world. Yet, many struggle to grow and trade. Among the many challenges that MSMEs face, lack of access to finance, including trade finance, is frequently identified as a critical barrier to growth. The MSME financing gap is a reality that cannot be ignored and that should be tackled with determination if we wish to ensure that small players are given a chance to thrive.

Whilst it has been amusing to see the memes about the Ever Given container ship that until recently was blocking the Suez Canal, the impact on global trade and supply chains will have been significant.

Losses from the Ever Given blockage are estimated to reach more than $1 billion trade, at a time when it has been vital that we keep supply chains moving. This is yet another crisis impacting on global recovery during the COVID-19 pandemic.

The Suez blockage could be one of the biggest disruptions to global trade in recent years, not discounting that we have seen recent disruptions caused by the COVID-19 pandemic, trade wars, Brexit, and increasing risks from climate events.

Times are tough in this COVID-19 world. As more and more businesses are forced to shut down or suspend operations, more people are facing an uncertain future without regular work. But every dark cloud has a silver lining and many Governments, Federal, State and Local are stepping up. If you need work, or assistance of another kind, remember that you’re not alone.

Varun Anthony is a ISO/IEC 17024 Certified International Business professional who has spent 12 of his 15 year career in International Trade and Market Development by developing the Indian market for international stakeholders looking to do business with India.

To celebrate International Women’s Day on the 8th March, the GTPA and the Institute for International Trade/ University of Adelaide and the University of Sussex are pleased to announce that we are providing two scholarships for women business leaders to complete the first ever Adaptive Trade Leadership in a Globalised World programme.

To celebrate International Women’s Day on the 8th March, the GTPA and the Institute for International Trade/ University of Adelaide and the University of Sussex are pleased to announce that we are providing two scholarships for women business leaders to complete the first ever Adaptive Trade Leadership in a Globalised World programme.

#ChooseToChallenge. A catchy tagline, but what does it actually mean? Last weekend, I got first hand evidence. In yet another Zoom social with friends, I asked a toddler on the call “what do you want to be when you grow up?” and rather confidently, she answered with: “an astronaut”.

Lisa McAuley, CEO of GTPA will be speaking at the upcoming GTR India on the topic of Achieving sustainability – what role can Indian trade play? The event will take place at 15.30-16.15 IST, Thursday March 11.

Lisa McAuley, CEO of the GTPA is looking forward to participating in the upcoming Horasis Extraordinary Meeting on March 18^th. As part of the meeting she will be joining other leading experts to discuss the State of World Trade.