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Trade Development News
- 4 days ago
- 1 min
UN: New paperless trade agreement see's 10-30% decline in APAC transaction costs
A new international agreement promoting paperless trade officially took effect on Sunday, which analysts said will further leverage advantages of China's huge market and provide broader market opportunities for all Asia-Pacific members. The Framework Agreement on Facilitation of Cross-border Paperless Trade in Asia and the Pacific, a UN treaty deposited with the Secretary General of the United Nations, consists of 25 articles, mainly covering a trade facilitation policy frame
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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
- Feb 9
- 3 min
Covid-19, e-commerce fuel illicit trade in Asean: EU-Asean Business Council
SMUGGLED wildlife, cigarettes, counterfeit medicines, substandard personal protective equipment (PPE), and even children's toys that bypass safety checks are among the worrisome goods traded in South-east Asia's illicit markets. The region's counterfeit goods market, excluding fraudulent medicines, is worth around US$35.9 billion annually, according to a 2019 report by the United Nations Office on Drugs and Crime (UNODC). It also costs governments further billions in tax reve
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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 8
- 2 min
DIGITAL TRADE IN THE ASIA-PACIFIC: 8 ISSUES FOR 2021 AND BEYOND
The Asian Trade Centre, with generous support from the Hinrich Foundation, has launched a series of papers, Asia in the Digital Economy, to more carefully examine new and emerging issues in digital trade in 2021. Since the public launch of the World Wide Web in 1995, trade has increasingly gone digital. While firms are innovating at a rapid clip to design, develop and deploy digitally-enabled goods and services, governments have struggled to keep up. For the first decades af
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Trade Development News
- Dec 31, 2020
- 2 min
Mapping TradeTech: Trade in the Fourth Industrial Revolution
Insight Report by World Economic Forum on how TradeTech is fundamental to harnessing the innovations of the Fourth Industrial Revolution to support the public good. Lead Authors: Ziyang Fan & Jimena Sotelo Mapping TradeTech: Trade in the Fourth Industrial Revolution was developed in cooperation with more than 50 global industry experts, policy-makers, academics and civil society leaders. It provides a comprehensive overview of the impact of emerging technologies on the global
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Trade Development News
- Dec 29, 2020
- 3 min
Top five trends in FDI to look out for in 2021
Foreign direct investment has been hard hit in 2020, with levels plummeting by 40–50%. Investment Monitor has identified five key trends to keep an eye on in 2021. 1. FDI will continue to struggle in 2021 The UN Conference on Trade and Development (UNCTAD) stated in June 2020 that it is expecting FDI volumes to decline by 5–10% in 2021. Investment will be highly dependent on Covid-19 recovery. The news in December 2020 of new nodes of the virus has dampened hopes that progres
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Trade Development News
- Dec 10, 2020
- 2 min
WEF: Should trade continue to be global after the pandemic?
The advantages China offers will not become available closer to home and the costs of reshoring are high and often prohibitive. Opportunities for global trade will be a key area for business growth after the pandemic. Technology is pivotal to solving the lack of transparency in global supply chains. Ten months in, the pandemic still poses a threat to lives and livelihoods in many parts of the world. Among its many impacts are the cracks in our international supply chains, whi
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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
- 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 15, 2020
- 3 min
IBM - Digital Trade Principles for the Post-COVID Age
By Michael DiPaula-Coyle - Central to any #digitaltrade agenda should be three core principles: 1. Enable the Free Flow of Data 2. Protect Source Code and Algorithms 3. Ensure technology choice and encourage open digital architectures COVID-19 has created unprecedented disruptions in the global economy, the full impact of which will not become clear for years to come. Companies of all sizes are grappling with how to conduct business, reach customers, and maintain supply chain
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Trade Development News
- Sep 9, 2020
- 3 min
ADB halts single window project of Maldives' on suspicious grounds
In an unprecedented first in Maldives, the Asian Development Bank (ADB) has halted the USD 6.7 million (MVR 100 million) National Single Window project of the Ministry of Economic Development, as it was handed over to an ineligible contractor on suspicious grounds. Marking the first time that a major international organisation has stopped a project in Maldives, local media Mihaaru reported that ADB ordered local authorities to investigate the matter and re-open the project fo
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Trade Development News
- Sep 4, 2020
- 2 min
Preparing for Future Supply Chain Disruptions: Insights from the Field
Organizations across all industries—from automotive, consumer goods, and pharmaceuticals to transportation, electronics, and oil and gas—have felt the disruptive effect of the coronavirus pandemic. Turning the global supply chain on its head, COVID-19’s impact has cut across multiple facets of international trade, including manufacturing, import/export, logistics, compliance, and supply chain management. This disruption has been a wake-up call for organizations worldwide, pro
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Trade Development News
- Sep 4, 2020
- 2 min
Digitalization and Singapore’s Role as an FDI Hub
The COVID-19-induced economic recessions worldwide have put downward pressure on cross-border investments. FDIs in emerging and developing economies in Asia are projected to subside by up to 45 percent in 2020 according to the UNCTAD’s World Investment Report 2020. However, the pandemic has also led to the emergence of a “new normal”, brought about by the reinforcement of digital technology and e-commerce. Prior to the pandemic, emerging Asia was booming and regional corporat
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Trade Development News
- Sep 2, 2020
- 1 min
DCSA's Thomas Bagge and the quest to digitise container shipping
Former Maersk executive Thomas Bagge has been chief executive and statutory director of Digital Container Shipping Association (DCSA) for nearly 18 months, in an attempt to pull the shipping industry into the 21st century. It is, he says, not an easy quest, but the first fruits of his labour are starting to show. “The container shipping industry is currently not a digitally advanced industry. We are, however, seeing a shift as many companies are thinking about how to change t
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Trade Development News
- Sep 2, 2020
- 2 min
Trade Digitalisation: ASEAN ministers to strengthen regional supply chains
ASEAN economic ministers are committed to strengthening regional supply chains and improve trade digitalisation to spur trade and investments, as well as cushion the impact of the ongoing health crisis, according to Indonesian Trade Minister Agus Suparmanto. The commitment came after the 52nd ASEAN Economic Minister (AEM) meeting on Tuesday, in which ministers gathered virtually to discuss the impact of Covid-19 in the region’s economy, among other issues. “Indonesia supports
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Trade Development News
- Sep 1, 2020
- 1 min
Need Help To Access Asia Markets?
Asia Trade, Investment, FDI, Trade Facilitation, Digitalisation & Technical Consulting, Events & Networks - With Covid-19 reducing the ability for travel and business development KW Group have expanded our technical consultancy support across the region to support market access across Asia Pacific from our HQ in Malaysia. We work with trade donors, governments, academia, chambers, associations & enterprise clients with technical consulting, market access, sales & event suppor
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Trade Development News
- Aug 28, 2020
- 2 min
COVID-19 pandemic & digitalisation of export promotion services – are changes here to stay?
Business leaders, academics and policymakers alike have emphasized over time the challenges of internationalization, and the need for public support in providing better access to foreign markets. Launching in a new market has been a challenge for a number of reasons, from the sheer cost and physical distance, through psychic distance to lack of knowledge and networks in destination markets. The public sector has come up with several tools for supporting internationalization;
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Trade Development News
- Aug 25, 2020
- 2 min
‘Rules as data’ – the 21st century answer for trade facilitation?
Designing ‘human-centred’ trade facilitation solutions: How does it work? By Craig Atkinson for Enhanced Integrated Framework (EIF) Following digitisation of commercial documents, the digitalisation of trade implies functional use of data to improve the automation potential of cross-border processes. By taking a human-centred approach to policy design in conformity with global semantic standards, trade rules in a ‘data driven’ format can address inequalities in access to info
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