Trends Transforming Trade

Thinking of exporting into the United Kingdom or USA? Learn how to increase your sales using e-commerce tools & techniques.

The Common Reporting Standard (CRS) is an internationally agreed standard for the automatic exchange of information (AEOI) on financial accounts. Its goal is to increase the fiscal transparency of cross-border wealth management and combat offshore tax evasion. 109 jurisdictions have exchanged information under the CRS as of 2020.

If you are reading this guide, you have likely reviewed our first guide in this series, “Should I Get Outside Support for Managing my Cybersecurity Risk?” and determined that you should indeed seek some form of outside support. Your next question might have been: What are the various choices when it comes to outside support? To answer that, please refer to our second guide in this series, “An Introduction to Outside Firms that Offer IT and Cybersecurity Support.”

The NAIDOC 2021 theme – Heal Country! – calls for all of us to continue to seek greater protections for our lands, our waters, our sacred sites and our cultural heritage from exploitation, desecration, and destruction.

As part of #NAIDOC2021 GTPA invites you to visit our Festival of Inclusive Trade from 2020 online portal and check out some of the wonderful Indigenous and Torres Straight Islander business and creative artists that were featured.

The Institute for International Trade (IIT) in partnership with the Institute of South Asian Studies (ISAS), National University of Singapore, the Confederation of Indian Industry (CII), and The Australian Industry Group(Ai Group®), invite you to join leading experts for an interactive webinar on India’s economic reforms and implications for Australia. Narendra Modi’s federal government continues to drive a program of radical economic reforms during its current second term of government. From agriculture liberalization and labour market reforms to state-sector privatization, reforms underway have implications that extend outward to India’s trading partners.

The current situation caused by the COVID-19 pandemic has profoundly changed the reality of every person around the world. Globally, people and organizations have experienced the shock of lockdown and the fear of not knowing what will happen from one day to the next.

Customs administrations worldwide have not been spared by the COVID-19 crisis. In order to determine the priorities of Customs administrations in the World Customs Organization (WCO) West and Central Africa (WCA) region in terms of capacity building during the COVID-19 crisis, the Regional Office for Capacity Building (ROCB) for the WCA region, with the support of the Investment Climate Reform (ICR) Facility, conducted a study in the third quarter of 2020 Among other things, this study concluded that there was a need to hold a series of webinars on topics deemed a priority by Customs administrations in the WCA region, including human resource management (HRM) in times of crisis.

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 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

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.

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!

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

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.

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?

“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

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.

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.

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.

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.

KEY TRENDS REPORT

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.

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?

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.