Today I had a än excellent strategic planning meeting with the Global Alliance for Trade Facilitation (GATF) at the International Chamber of Commerce (ICC) headquarters in Paris.
Maersk has been a partner to GATF a long time and we have done numerous projects together in the past.
The Global Alliance for Trade Facilitation is a public private partnership for trade-led growth, supporting governments in developing countries and least-developed countries (LDCs) in implementing the World Trade Organization’s Trade Facilitation Agreement.
GATF projects are aimed to cut through red tape and end costly delays at borders by bringing together governments and businesses of all sizes as equal partners to deliver targeted trade reforms, ultimately to boost trade competitiveness and business conditions, key drivers of inclusive economic growth and poverty reduction.
We had great discussions this morning – & good views as well.
Global trade is expected to have hit a record $32 trillion in 2022 with goods trade up 10% on the year to $25 trillion, and trade in services up 15% to $7 trillion, according to the UN Conference on Trade and Development (UNCTAD).
But trade growth took a hit in the second half of last year, with third-quarter goods trade dropping by 1% compared with three months earlier. The likely causes were “geopolitical frictions, persisting inflation and lower global demand”, all of which are expected to negatively affect global trade in 2023, UNCTAD says.
UNCTAD lists the key factors likely to affect trade in 2023 as:
Negative factors: lower economic growth forecasts; high prices for traded goods; record levels of global debt and increasing interest rates.
Positive factors: improved logistics as ports and shipping companies have adjusted to COVID-era challenges; new trade agreements are coming into force.
Other factors: the reshaping of global supply chains, including the diversification of suppliers, reshoring, near-shoring and friend-shoring; the shift to a greener global economy.
Source: WEF
So the year has started. First business trip today. Good to be back ’on the road’.
This will be a intensive year. We are growing fast and expanding everywhere.
There is nothing better than to meet customers and to do so we need to get out there – on the ground.
It was nice to end the first customer day with a nice evening walk before bedtime.
This will be a year of travelling. Another year of travelling.
Watch out for the Maersk Customs Service world tour 2023. Soon in a place near you.
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