Trends Transforming Trade

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.

GTPA is pleased to announce that Annemette Thomsen an international business professional with more than 20 years experience has recently joined the GTPA's working committee on Market Development.

GTPA is pleased to announce that Cristina Vallejos an expert in trade and sustainable development has recently joined the GTPA's working committee on Trade Management.

GTPA is pleased to announce that Eleonore Juliane Treu in-house legal counsel at ICC Austria has recently joined the GTPA's working committee on Trade Law.

The “TPP-11” has finally moved forward under a new agreement to be known as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, with talks finalised in Japan overnight. Canada is back on board and the agreement is on track to be signed in March this year.

Australian exporters are increasingly wanting to sell their goods to Chinese consumers. This session will focus on legal issues associated with the different methods of selling to Chinese customers. FREE REGISTRATION HERE

Una suerte de norma de calidad para los operadores del comercio internacional. Esa podría ser una de las definiciones de Global Trade Professionals Alliance (GTPA), la organización que el Ministro de Comercio, Turismo e Inversiones de Australia, Hon Steven Ciobo MP, y la CEO de Export Council of Australia, Lisa McAuley, presentaron en Buenos Aires en coincidencia con la XI Ministerial de la OMC.

GTPA is pleased to partner with Freight & Trade Alliance (FTA), the Australian Peak Shippers Association (APSA) to support Australia for the first time to host the ICHCA Australia Global Shippers Forum (GSF) and International Cargo Handling Coordination Association (ICHCA) annual conference and exhibition.

Happy New Year and all very best wishes to you and yours from the ITAC and the GTPA Team, and here’s hoping that all who celebrated over the past weeks have had an enjoyable Holiday Season!

The idea for a step-up from government in support of small business is resonating in New Zealand and farther afield says Powell who also represents New Zealand on the APEC Business Advisory Council (ABAC). “New Zealand needs to do much more to support our small business ecosystem. Small and medium-size enterprises (SMEs) account for 97 percent of all enterprises and are the engines of growth and innovation in the APEC region. For these companies to make an even bigger impact on the economy we need a dedicated Government entity focused on better understanding and supporting small business owners,” says Powell.

Arachova, Greece: There is perhaps no spot better for reflecting on the power of digital services for consumers than the literal side of a cliff in Arachova, Greece. I’m sitting on the side of a church building, the Temple of Theotokos, that has been perched in this setting, tumbling down the mountainside to the sea, for probably thousands of years.

Following the establishment of a work program to set rules for digital trade at the 11th World Trade Organisation’s (WTO) Ministerial Conference (MC11) in Buenos Aires, Argentina and the importance that the GTPA believes in implementing basic standards for digital trade in areas like consumer protection and electronic contracts the GTPA is now pleased to announce that in the New Year it will establish a new working committee to look at developing a new specialisation under the Global Trade Professionals Programme to recognise experts in the field of eCommerce and digital services.

Open, transparent and rules-based international trade are critical to economic prosperity. The Global Trade Professionals Alliance (GTPA) applauds the 70 government’s leading efforts in establishing a work program to set rules for digital trade at the 11^th World Trade Organisation’s (WTO) Ministerial Conference (MC11) in Buenos Aires, Argentina. This initiative will put in place a framework to shape the rules of international e-commerce in the years to come. It includes 70 of the WTO’s 164 members that collectively account for over 75% of global trade, including the United States, Japan and the European Union.

The GTPA is pleased to welcome John W.H. Denton AO as a new Honourary Member of the Global Trade Professionals Alliance. Honourary Membership of the GTPA is a significant award granted by the International and Technical Advisory Committee (ITAC) of GTPA. The award may only be conferred on persons who have through their lifetime career demonstrated a clear and distinct role in advancing global trade development.

Following the official launch event in December, GTPA is now kicking off in full swing this New Year we are giving away 10 FREE opportunities for individuals to be certified as a Global Trade Professionals under ISO/IEC 17024 in the area of Trade Management. This also includes one year’s FREE membership to the GTPA valued at $1,000 USD. Broaden your global career and open the door to a world of opportunities.

Springboard your career in the New Year!

As a Global Trade Professional you will benefit from a Global Trade Professional certification under ISO/IEC 17024; a trusted and internationally recognised certification; career opportunities and progression; a global network and profile, international and strategic partnerships as well as business development opportunities.

In the New Year I will be moving on to head up the Global Trade Professionals Alliance (GTPA). Over the years a group of us explored different avenues in which companies and the community of service providers that support them could obtain international certification to recognise their competency in the field of global trade. We could find no pathway in which there was a global standard (which I found rather strange), particularly as we advocate for the harmonisation of global standards in other sectors.

Trade financing, an esoteric and poorly understood branch of finance, is demonstrably critical to the pursuit and conduct of international trade, by companies of all sizes, and by small and medium-sized enterprises (SMEs) in particular. Those based in developing and emerging markets are in even more urgent need of the liquidity and risk mitigation solutions available through trade financing.

Buenos Aires—Pity the World Trade Organization (WTO). In three years of Talking Trade posts, at a rate of roughly 50 per year, the WTO does not get featured often. Unfortunately, nearly each time the WTO makes an appearance, the news is not good.

The U.S. Food and Drug Administration (FDA) requires most U.S. importers of food and beverages to develop and implement Foreign Supplier Verification Programs (FSVPs). Covered importers must document their foreign suppliers’ FDA compliance, including whether or not each supplier is subject to a FDA Import Alert.

GTPA welcomes new corporate member Impact, IMPACT is a boutique consultancy specializing in integrated communications. Our goal is to become business associates of our clients and develop communication strategies to capture their target audiences and markets. Our added value is based on the personalized attention of our clients, and the expertise and creativity of the management team. Our work is dynamic, flexible and agile.

GTPA is absolutely delighted to have certified our first Global Trade Professional under ISO/IEC 17024. GTPA has certified Ms Fatou Ndiaye from KPMG as a GTP with a specialisation in Trade Management at the Management Level. Fatou has almost a decade of experience in international sales and export development and joined KPMG from a boutique Trade & Investment consulting company specialised in assisting Australian SMEs in their expansion to Europe. Her portfolio included clients from a broad range of industries i.e. waste water, medical device, automotive, IT.