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Trade Development News
- Feb 23
- 2 min
OECD Report: Misuse of Containerized Maritime Shipping in the Global Trade of Counterfeits
Trade in counterfeit goods represents a longstanding, and growing, worldwide socio-economic risk that threatens effective public governance, efficient business and the well-being of consumers. At the same time, it is becoming a major source of income for organised criminal groups. It also damages economic growth by undermining both business’s revenue and their incentive to innovate. Counterfeit and pirated products tend to be shipped by virtually every means of transport. In
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Trade Development News
- Feb 16
- 2 min
Dentsu Tracking partners KW Group in Asia to support Supply Chain Digitisation & Fight Illicit Trade
We are delighted to announce a new partnership between Dentsu Tracking and KW Group to lead development in the Asia Pacific region. Dentsu Tracking is committed to assist governments and the private sector in the digitisation of supply chains in the region and to support the fight against illicit trade through collaboration with ministries of finance, customs, and enforcement bodies. The company fully supports the regional development of trade digitisation as a driver for eco
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Trade Development News
- Jan 21
- 1 min
Cambodia To Implement Data Automation Between Tax & Customs Authorities
System will strengthen tax and customs cooperation, enabling instantly the sharing and exchange of data and information, including corporate tax registration, corporate import and export declaration documents, sales and purchase records, as well as other related documents. The introduction of the data automation system represents Cambodia’s optimisation of new technology to strengthen inter-institutional cooperation. Under the automated exchange system, the two tax authoritie
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Trade Development News
- Jan 19
- 2 min
Combating illicit trade in Asia
Pandemic has further exposed weaknesses throughout the region and in the online world that allow shady operators to thrive - Article from Jan 18th Bangkok Post Not only has the Covid-19 pandemic exposed flaws in social and health systems, disrupted supply chains and taken at least 38,000 lives across Southeast Asia, it has also shed light on the growing problem of illicit trade in the region. Smuggling, counterfeiting and related illegal activities rob the global economy of U
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Trade Development News
- Jan 15
- 3 min
OFFICIAL CHINA TRADE DATA REPORT: Global Trade in 2020 Rebounded After Spring Slump
As the world seeks to recover from the devastation of the Covid-19 pandemic, trade data suggests it’s more dependent than ever on the Chinese export engine - Latest December China Trade Data insights from our partners at Trade Data Monitor, authored by Chief Economist, John W Miller - For a copy of December's trade data for China and other countries email: andrewk@kwconfex.com China’s full-year numbers show how global trade was almost crippled by the Covid-19 pandemic during
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Trade Development News
- Jan 12
- 2 min
Balancing Facilitation & Control To Combat Illicit Trade In Free Trade Zones
A 2020 update of the ICC BASCAP report assessing the environment and highlighting trends in counterfeiting and other forms of illicit trade facilitated within free trade zones. What’s at risk? Free Trade Zones (FTZs) provide significant opportunities for legitimate business and play a critical role in global trade as well as economic growth for the host nation. However, our updated research has continued to confirm that insufficient oversight remains a major enabler of illic
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Trade Development News
- Dec 8, 2020
- 3 min
Global Economy Being Redrawn By Chinese Export Boom
Latest November China Trade Data insights from our partners at Trade Data Monitor, authored by Chief Economist, John W Miller - For a copy of November's trade data email: globaltrade@kwconfex.com What has been building all year exploded into a crescendo in November, as China registered the biggest month of exports in economic history. Buoyed by a rebounding economy as the U.S. and Europe continue to struggle with containing the coronavirus, Beijing reported shipments of $268
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Trade Development News
- Dec 3, 2020
- 2 min
ASEAN and EU's new online Customs Transit System set to boost trade in the ASEAN region
The private sector in ASEAN now has access to a powerful new online system, the ASEAN Customs Transit System (ACTS), which will reduce intra-ASEAN trading challenges and enable companies to benefit fully from the ASEAN Economic Community (AEC) and the free movement of goods across the ASEAN region. In 2017, ASEAN Economic Ministers set the twin goals of reducing trade transaction costs by 10% by 2020 and doubling intra-ASEAN trade between 2017 and 2025. To realise this goal,
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Trade Development News
- Dec 2, 2020
- 2 min
OECD - Getting goods across borders in times of COVID-19
This note updates Trade facilitation and the COVID-19 pandemic from April 2020 with insights into the evolution of new border protocols and trade facilitation measures impacting traders since COVID-19 and exploring what more can be done to prepare for the next stages of the pandemic as uncertainty persists. It highlights the importance of transparency and availability of timely trade-related information in mapping bottlenecks and risks, as well as the importance of trade faci
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Trade Development News
- Nov 12, 2020
- 2 min
CBP and Singapore Customs Sign Historic Letter of Intent to Explore Single Window Connectivity
U.S. Customs and Border Protection (CBP) and Singapore Customs signed a historic letter of intent today that will enable closer cooperation in the areas of trade facilitation, revenue protection and risk management. Executive Assistant Commissioner for the Office of Trade Brenda Smith signed the letter of intent in Washington, DC on behalf of CBP and Deputy Director-General Lim Teck Leong signed the letter of intent in Singapore on behalf of Singapore Customs. The Letter of I
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Trade Development News
- Nov 5, 2020
- 2 min
New policies boost cross-border e-commerce in China amid pandemic
Cross-border e-commerce in China is on track for growth this year despite global lockdowns that constrained shipping capacity and supply chain operations in the early months of the COVID-19 pandemic. China has put forward new measures in facilitating cross-border e-commerce to bolster trade, as retailers are increasingly bringing sales online to compensate for offline losses. The digital economy has been an important driver for post-pandemic trade recovery. China is holding t
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Trade Development News
- Nov 4, 2020
- 2 min
Six Asean countries implement Asean Customs Transit System
The Asean Customs Transit System (ACTS) will be implemented in Cambodia, Laos, Malaysia, Singapore, Thailand and Vietnam. ACTS enables goods to be transported by road under a single regime, regardless of which Asean member state they depart, transit and arrive at, although it is subject existing border measures imposed by respective countries during the Covid-19 pandemic. BUSINESSES can look forward to time savings, cost reduction and better connectivity in moving goods by la
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Trade Development News
- Oct 30, 2020
- 2 min
EU Customs Union: Commission proposes new ‘Single Window' to modernise & streamline customs controls
The European Commission this week proposed a new initiative that will make it easier for different authorities involved in goods clearance to exchange electronic information submitted by traders, who will be able to submit the information required for import or export of goods only once. The so-called ‘EU Single Window Environment for Customs' aims to enhance cooperation and coordination between different authorities, in order to facilitate the automatic verification of non-c
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Trade Development News
- Oct 22, 2020
- 3 min
World Bank - Corruption in customs: Time for a new approach
By ODD-HELGE FJELDSTAD & GAEL RABALLAND Customs are often perceived as one of the most corrupt institutions in developing countries. Though difficult and complex, fighting corruption in customs is possible but requires an approach that is less centered on transposition of norms and practices from developed countries. In the World Bank’s recently published Global Report on Anti-Corruption, we argue that addressing the root causes of corruption goes beyond legal reforms, code o
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Trade Development News
- Oct 16, 2020
- 3 min
CHINESE DEMAND BOOSTS COVID-19 RECOVERY
Latest Official China Trade Statistics from our partners Trade Data Monitor by Lead Economist John Miller China, the world’s most powerful trading nation, this week reported September exports of $239.8 billion, up 9.9% over a year before. The strong performance suggests that the global economy may be recovering from the devastating impact of the Covid-19 pandemic, which has infected over 38 million and killed over a million people around the world. Significantly, imports clim
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Trade Development News
- Oct 6, 2020
- 3 min
Malaysian Customs adopts IBM and Maersk’s TradeLens blockchain
MALAYSIA, KUALA LUMPUR, 5 October 2020 — IBM (NYSE: IBM) together with A.P. Moller – Royal Malaysian Customs Department (RMCD) today announced a collaboration to use the blockchain-enabled ‘TradeLens’ platform in Malaysia to modernise the shipping processes, create greater transparency and enhance customer satisfaction. This collaboration supports the country's effort to promote trading and economic stability by facilitating ease of doing business. By digitizing shipping proc
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Trade Development News
- Sep 14, 2020
- 4 min
$3.1bn Nigeria Customs modernisation project concession won by Huawei, Smiths Detection & Bionica
The Federal Executive Council (FEC) ratified the $3.1 billion anticipatory approval by President Muhammadu Buhari to concession the modernisation project of the Nigerian Customs Service (NCS) to a consortium named Messers E.Customs HC Project Limited. The concession is for 20 years. The consortium is made up of Bionica Technologies W.A. Limited, Huawei, Smiths Detection, Nuctech of China, Larsen & Toubro Group, and Paramount Group. The Minister of Finance, Budget, and Nationa
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Trade Development News
- Sep 14, 2020
- 2 min
Saudi Arabian Logistics takes over customs operations in airports
Saudi Arabian Logistics (SAL), a member of the Saudi Arabian Airlines Corporation, has taken on the operations of customs security areas across most of the Kingdom’s airports. The move is part of the Memorandum of Understanding (MoU) signed previously by the Saudi Customs and the National Industrial Development and Logistics Program (NDLP), under the patronage of Crown Prince Muhammad bin Salman. Saudi Customs Vice-Governor Suleiman bin Abdullah Al-Tuwaijri and SAL Deputy Chi
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Trade Development News
- Sep 11, 2020
- 1 min
World Bank interest to invest $170m for customs modernisation in Bangladesh
Promoting regional trade, investments - The World Bank (WB) has expressed interest to help the National Board of Revenue (NBR) modernise its customs procedure for promoting regional trade and investments, officials said on Tuesday. The WB has assured Bangladesh of providing assistance worth US$170 million for upgrading the cross-border and regional trade facilitation works, said an official of the Economic Relations Division (ERD). Meanwhile, the ERD, on behalf of the NBR, re
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