IFCBA Seminar and Meeting Coming this August in Bangkok

YOU’RE INVITED!

Please join us for the 2017 IFCBA Seminar Series and Meetings, taking place August 28-29 at the Sheraton Grande Sukhumvit in Bangkok, Thailand.

Click here for complete details and to register!

 

Recent News

WTO members gathered on 16 May for the inaugural meeting of the Committee on Trade Facilitation, the body responsible for overseeing implementation of the WTO’s historic Trade Facilitation Agreement (TFA).

Concluded at the WTO’s 2013 Bali Ministerial Conference, the TFA entered into force on 22 February 2017 following its ratification by two-thirds of the WTO membership. In line with the Agreement, the Committee on Trade Facilitation was established in order to provide WTO members a forum to consult on matters related to the operation of the TFA and the advancement of its objectives.

At the inaugural meeting, members elected Ambassador Daniel Blockert (Sweden) as chair of the committee.

“Having the committee now in session marks an important milestone in our longstanding efforts to foster the facilitation of trade around the globe,” Ambassador Blockert said. “We have finally reached the stage where our collective engagement over the past years is bearing fruit. In doing so, we are testimony of what can be achieved – even under challenging circumstances – when working in coalitions of a common cause.”

This was excerpted from a 16 May 2017 news item by the World Trade Organization.

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