About the IFCBA
The IFCBA has been representing the interests of the worlds' customs brokers and their clients since 1990. Many of our member associations have been involved in similar activities within their own countries for nearly a century. » more
The WCO has a busy calendar of meetings and this past week, its Trade Facilitation Agreement Working Group held its sessions. IFCBA Past Chair Jaime King and IFCBA Secretary Carol West were in attendance.
For more details on the meeting, please read this article, which appeared in the WCO News today.
One of the world's most important tech investors has told the logistics industry that there is little cause for its worrying about the emergence of Amazon as a third-party logistics provider.
At last week's TPM conference in Long Beach, managing director at start-venture capital firm Felicis Ventures, Wesley Chan, said he doubted that many shippers would want to hand over the sort of product data they would need to if employing Amazon as their freight forwarder.
Last year, Amazon China was awarded an NVOCC licence by the U.S. Federal Maritime Commission, which allows it to issue bills of lading to shippers, but also means it needs to collect a range of product data on the goods being shipped.
Mr. Chan said this was a case of "the fox getting into the henhouse."
Read more in an article from The Loadstar.
A billionaire investor, a data-crunching genius and thousands of local postmen... How China's small-town stores are undergoing a tech revolution.
Samson Yeung won't relent in connecting China's village stores until he's reached saturation. "A million stores would be a very good number to dominate the market," he says. As Ule's chief operating officer, Yeung is moving fast to build the world's most ambitious real-time retail-data network.
"Being on the network makes each store a virtual Walmart: They can sell what they like, even if it's not in the shop, to turn themselves into internet businesses. Plus we're capturing every transaction that's made in the store, to help the shop owner. We know who they're selling to, at what time of day and in what weather. We work with owners to decide where to shelve products for maximum impact."
Read more in an article from Wired.
A major milestone for the global trading system was reached yesterday, 22 February 2017, when the Trade Facilitation Agreement (TFA), the first multilateral deal concluded in the 21-year history of the World Trade Organization, entered into force.
In receiving four more ratifications for the Trade Facilitation Agreement (TFA), the WTO has obtained the two-thirds acceptance of the agreement from WTO's 164 members.
The last countries to sign - Rwanda, Oman, Chad and Jordan – brought the total number of countries to over the required threshold of 110. A number of IFCBA members and associated businesses from the following countries have ratified the agreement: Australia, Canada, China, Greece, India, Italy, Jamaica, Japan, Korea, Mexico, Mongolia, Mozambique, Myanmar, Nigeria, Portugal, Thailand, Turkey, Uruguay and the United States.
The entry into force of the TFA, which seeks to expedite the movement, release and clearance of goods across borders, launches a new phase for trade facilitation reforms all over the world and creates a significant boost for commerce and the multilateral trading system as a whole. The WTO estimates that the TFA could boost global merchandise exports by up to $1 trillion, with up to $730 billion of this increase benefiting developing countries. Trade costs are estimated to be reduced by an average of over 14 percent.
More information on the TFA is available here: http://www.tfafacility.org/trade-facilitation-agreement-enters-force
The WCO has published the 82nd edition of WCO News, the Organization’s flagship magazine aimed at the global Customs community, which provides a selection of informative articles that touch the international Customs and trade landscape.
This edition features a special dossier on data analysis by Customs for more effective border management, and includes a number of country-specific experiences, particularly in the area of risk management and Customs modernization programmes.
It also puts a spotlight, in its focus section, on environmental issues, specifically the role of Customs and the WCO in combating wildlife crime, as well as in protecting the ozone layer and mitigating climate change.
Other highlights include articles on emerging technologies and how they can transform border management, facilitating trade against a backdrop of security threats, transforming trade processes to compete in the global economy, modernizing human resource management, and much more.
This was excerpted from a 21 February 2017 release by the World Customs Organization.