Trade agreements of various kinds are there to help as one of the most important instruments to mitigate and simplify international trade in an increasingly complex and complccted world. There are more than 550 agreements operational today and we know from studies that they are only utilized to 55-60%. Companies are leaving money on the table and missing opportunities in new markets.
Even though the potential is so much higher, the power of trade deals is still impressive. Thanks to the Economic Partnership Agreement, trade between the EU and Japan grew by an impressive 13.4% in 2022.
The agreement also helped both partners recover from the pandemic, with trade in goods returning to pre-pandemic levels in 2021.
In fact, EU exports to Japan grew by 6.6% in 2020 compared to the previous year, exceeding the growth rate of the previous three years.
According to both partners, this agreement is an important cornerstone of the EU-Japan trade relationship and plays a crucial role in strengthening the political ties between the EU and Japan.
By the way, did you know that Japan holds a significant position in the EU’s trade relations with Asian countries, standing as its second largest trading partner after China? Moreover, in terms of both imports and exports of goods, Japan is ranked seventh among the EU’s trading partners.
Source: EuropeanCommission
Innovation is everything.
The Global Innovation Index tracks the most recent global innovation trends against the background of an ongoing COVID-19 pandemic, slowing productivity growth and other evolving challenges.
This latest edition’s thematic focus on the future of innovation-driven growth provides a perspective on whether stagnation and low productivity growth are here to stay, or whether we are about to enter a new era, where new innovation spurts – the Digital Age and the Deep Science Innovation waves – bring about an economic uplift.
What is the Global Innovation Index? Watch this video to learn more.
In the future the fostering of innovation is the most important task for Governments and Private Sector.
We new new solutions, we need them now.
Trust, Technology & Visibility is the future for supply chains – and the future is already here.
We see new application of track and trace systems, also models already in use in industry for other purposes. We have years of experince of interactive mobile audits.
Safe, fast, and visual inspection by drones of inaccessible places is getting digital twins to Prometheus level.
Our Captain Peter concept, the Maersk Remote Container Management programme, is an excellent example.
Trust is earned, not given. Innovative technology & supply chain visibility is the gamechanging way to shape the future of Global Trade 2.0.
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