Trade Facilitation Commission Launches Initiative to Boost UK Exports and Foster Economic Growth

I am delighted to have accepted the invitation as Commissioner on the newly establsihed UK Trade Facilitation Commission.

The Trade Facilitation Commission (TFC) has been established to bolster UK small and medium-sized enterprise (SME) global trade activity, addressing the current challenges where less than 10% of UK SMEs engage in goods exports, a third of GB importers are unsure of their customs duty payments and nearly half have experienced delays at the port.

“The Trade Facilitation Commission is dedicated to unlocking the potential of UK SMEs in the global market,” said Lord Agnew, Chairman of the TFC.

Through a comprehensive approach, the TFC plans to implement various measures to facilitate trade and support SMEs, including:

• Simplifying trade procedures and reducing bureaucratic hurdles to make global trade more accessible and efficient for SMEs.

• Providing tailored assistance and guidance to SMEs, including access to market intelligence, trade finance, and trade training programs.

• Strengthening partnerships with key stakeholders, including government agencies, industry associations, and trade promotion organisations, to coordinate efforts and maximise impact.

• Leveraging technology to digitise trade processes, improve transparency, and enhance the competitiveness of UK SMEs in the global market.

“By fostering an environment conducive to trade, we not only empower businesses but also drive economic growth and prosperity for the nation as a whole,” said Shanker Singham, co vice-Chairman of TFC.

Here is the PRESS RELEASE about the Commission: Press Release

See more about the UK Trade Facilitation Commission on the website: UK Trade Facilitation Commission

Interesting interview with Commissioner Michael Outram of Australian Border Force about people & goods movement across borders in the future.

“The volume and speed of travel and trade over the next decade is going to exponentially increase, Industry in particular want more predictability in their supply chains and certainty in border arrangements. The solution is to augment and amplify the work of officers with big data and emerging technology. This starts with digitisation processors like passenger decelerations and sharing data with other nations and industry, while building up internal systems. So that we can automate far more of our screening [and] far more analysis,”

I know Michael since way back & this interview is really worth reading.

Read the interview article here:

Source:InnovationAUS.com

Time to go to London again. I have some very interesting meetings and business dinners lined up.

Tomorrow I will speak at the C4DTI Digital Trade conference. The Digital Trade Conference (DTC) is the annual, international, flagship event for ICC Centre for Digital Trade and Innovation (C4DTI). 

Tomorrow night it is awards night. Maerk is nominated and shortöisted in two categories.

See you there.