Since the Regional Comprehensive Economic Partnership entered into force in Jan 2022, its impacts are largely unknown. This report brings together the insights from 20 experts across 10 different Asia-Pacific countries analyzing how RCEP will change the economic and political landscape in the 21st century. Accounting for nearly a third of the world’s population and almost 30% of global GDP, the Regional Comprehensive Economic Partnership (RCEP), entered into force on January

The promise of TradeTech: Policy approaches to harness trade digitalization Technology has always propelled trade. From the invention of the steam engine and steamship in the 1700s, the popularization of the standard shipping container in the 1950s, and the rise of the internet in the 1990s, technology has over the centuries profoundly changed the way we trade. Today, emerging technologies and digitalization are changing trade at a speed much faster than before – leading to b

Asia now accounts for nearly 60% of the world’s online retail sales. Asian-Pacific e-commerce is expected to nearly double by 2025, reaching $2 trillion, according to Euromonitor International. From online retail to ride-sharing services to exporting online labour, this digital boom is reshaping almost every aspect of business and social life in this region. We are already seeing how digitalization is reshaping Asia. The digital transformation of South and Southeast Asia is o

Fantastic news for trade digitalization & standardization as the ICC, DCSA, BIMCO, FIATA and SWIFT launch the Future International Trade Alliance and signed a memorandum of understanding to standardise digitalisation of international trade. Together, the industry associations will collaborate on the development and adoption of relevant standards to facilitate the use of electronic bills of lading. Established to further digitalisation of container shipping technology standard

Global supply chains came under severe strain during the Covid-19 pandemic. Which locations and companies will benefit from the disruption, and which ones will lose out? Global supply chains have been in a state of disruption for the past few years due to a combination of rising trade tensions and the impacts of Covid-19. Of this double whammy, Damien Bruckard, deputy director of trade and investment at the International Chamber of Commerce in Paris, says: “The collapse and s

Supply chain issues have been made much worse by the COVID-19 pandemic. The economic environment has become more challenging, and sustainability is being emphasized. Customers can expect to see shortages of products on shelves and price increases of those products, writes an expert. In the run-up to Christmas, there was considerable anxiety about shortages of festive food and gifts. Trade friction was already at the core of the Brexit debate, and supply chain issues have been

Blockchain may one day eliminate inefficiencies and lack of transparency in supply chains. While slow in coming, this revolution would benefit not only customers and brands, but the “invisible" workers who power global trade. Fantastic resource from Bloomberg Quicktakes #trade #globaltrade #tradetech #technology #blockchain #supplychain #change #digitalization

This report reviews the progress of trade facilitation reforms across 144 countries, based on the fourth UN Global Survey on Digital and Sustainable Trade Facilitation. The analysis is based on 58 trade facilitation measures that are classified into four groups (General Trade Facilitation, Digital Trade Facilitation, Sustainable Trade Facilitation and Other Trade Facilitation) covering both binding and non-binding WTO TFA measures, as well as measures beyond the scope of WTO

Encouraging news from UNESCAP as we head in to 2022 - Foreign Direct Investment Trends and Outlook in Asia and the Pacific 2021/2022 HEADLINES • The COVID-19 pandemic has contributed to the collapse of global foreign direct investment (FDI) flows, which fell 42 per cent from US$1.5 trillion in 2019 to an estimated U$$859 billion in 2020. The most recent data for 2021, however, suggests global FDI flows have already started to rebound, having reached US$852 billion in the fir

CREDENTIALS - KW Group Asia: FDI, Trade Innovation & Digitalisation Consulting & Events Since 2010 Did you know that by 2030 65% of the worlds middle-class consumers will be found in Asia and it is forecast that ASEAN will become the world’s fourth-largest economy with a roughly $4 trillion USD consumer market? "ASEAN is poised to become a dramatic consumption opportunity, driven by four mega-forces: strong demographic trends; rising income levels; geopolitical shifts increas

Dubai Trade, the UAE Region’s single window platform for cross-border trade, has launched ZADI, a unified food import platform aimed at facilitating the import and re-export of food shipments throughout Dubai’s ports, according to DP World. In a statement, DP World described the platform as the “first-of-its-kind” in the Middle East. It will be part of Dubai Trade’s drive to be the leading integrated platform in all import and re-export services. Additionally, it will also al

Over the past few months, Customs authorities in Latin America and the Caribbean have had to work hard and think outside the box in response to the COVID-19 pandemic. Tons of personal protective equipment, including masks, gowns, medical devices, medicines, and disinfectant products, as well as food and other necessities, have passed through these agencies. Those shipments had to be prioritized and dispatched quickly and safely, without neglecting the regular flows of trade.

Recommendations by GTDW Speaker Ziyang Fan Head of Digital Trade, World Economic Forum & Mike Gallaher The COVID-19 pandemic has accelerated the adoption of digital technologies and services, which have kept trade flowing even as movement has been restricted. This has highlighted the need to modernize trade rules and reverse the trend of digital protectionism. Modernizing digital trade rules will advance digital trade and create more jobs, human connections and creativity in

ABU DHABI, Sheikh Khalid bin Mohamed bin Zayed Al Nahyan, Member of the Abu Dhabi Executive Council, and Chairman of the Abu Dhabi Executive Office, yesterday (May 9), inaugurated the Single Window of Logistics & Trade in Abu Dhabi during a visit to Khalifa Industrial Zone Abu Dhabi, Kizad, a subsidiary of Abu Dhabi Ports. Sheikh Khalid was briefed on development plans in presence of Falah Mohammad Al Ahbabi, Chairman of Abu Dhabi Department of Municipalities and Transport,

Enabling cross-border paperless trade, or the flow and legal recognition of trade-related data and documents in electronic form across borders, has the potential to cut transaction costs by 25% across Asia and the Pacific. Benefits associated with digitalizing trade procedures also include increased regulatory compliance, reduced illicit financial flows and more effective and inclusive participation in the digital global economy. If those benefits were not enough in themselve

Timely article and solutions by Tradelens at a crucial time for #tradetech and #digitalisation The bill of lading is believed to be the most important transport document in international trade: a mainstay of the global supply chain that’s present from origin to destination and critical to customs clearance, financing and ownership of cargo. But for as much as shipping has changed over the decades, not much about the bill of lading (BL) has. Today, it’s pretty much the same of

HONG KONG — April 7, 2020 — CargoSmart Limited, a leading shipment management technology solutions provider, announced that it conducted a pilot project with COSCO SHIPPING LINES (COSCO), Shanghai International Port Group (SIPG), and Tesla, Inc. (Tesla) for a new application to transform the cargo release process. It is among the first pilot projects with an ocean carrier conducting a real-time exchange of shipment data with a terminal operator through blockchain. The pilot n

In line with the government’s thrust of enhancing #customsprocedures towards efficient and world-class #tradefaciliation the National Economic and Development Authority (NEDA) - Philippines Investment Coordination Committee (ICC), during its meeting last March 6, 2020, has approved the Philippine #customsmodernization Project of the Bureau of Customs (BOC) and recommended for its final approval by the NEDA Board chaired by President Rodrigo Duterte. The #PhilippineModernizat

CEO Chong Yoke Ching said SealNet is keen to become a leader in the facilitation of cross-border trade by making the process easier and faster, and also to provide end-to-end visibility, while ensuring the safety and security of digital transactions via its cloud-based online portal, SealNet, which was launched in August last year. About 500 customers are currently utilising the SealNet platform and the number is expected to double this year. Chong said a mobile version of th

GTDW China Trade Development Week 2020 is CONFIRMED to take place 16-18 June, Shanghai Pudong. Co-hosted with APMEN Operational Center, Partnered with Shanghai Association of Foreign Investment & Quality Brands Protection Committee, China (QBPC). PROGRAM ENGLISH: http://bit.ly/37mxOOI PROGRAM MANDARIN: http://bit.ly/37cFLG5 EXHIBITION & PARTNERSHIPS As this is a free to attend event for delegates from Customs & Tax Authorities, Ministries of Trade/Economy/Finance, IP, Police