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5 Strategies For Boosting Innovation in Trade - WEF

- International trade has undergone significant transformations over the past few years, driven by innovations that enhance supply chain efficiency for governments and businesses.

- Inspiring examples from institutions such as the Global Alliance for Trade Facilitation, Korea Customs Service, Port of Rotterdam and 3M, showcase effective innovation strategies.

- To accelerate innovation, these entities have employed strategies, optimising existing data, fostering collaboration, adopting advanced technologies, embracing failure as a learning opportunity and creating dedicated spaces for innovation.

Over the years, international trade has undergone significant transformations. From traditional barter systems to the exchange of services and digital goods, the evolution of global commerce stands as a testament to human ingenuity and innovation. In this era of rapid technological advancement and interconnected economies, cultivating a culture that nurtures innovation in trade is paramount. This article outlines five strategies to boost innovation in trade.


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