2014 IFCBA World Conference
The International Federation of Customs Brokers Associations held its bi-annual world conference "Celebrating 25 Years of Trade Facilitation through Expertise and Innovation" in Seoul, Korea from May 13-17, 2014. Please click here for the press release and for the new IFCBA executive team.
About the IFCBA
The IFCBA has been representing the interests of the worlds' customs brokers and their clients since 1990. Many of our member asoociations have been involved in similar activities within their own countries for nearly a century. » more
China and Australia sealed a landmark free trade agreement on Monday that could significantly expand trade between the two economies.
Australia, which signed trade deals with Japan and Korea earlier this year, says China is its largest trading partner, with two-way trade of $130 billion Australian ($128 billion Cdn) in 2013.
It’s taken more than a decade to negotiate the deal which will open up the huge Chinese market to Chinese farm exports and the services sector.
This has been excerpted from the 17 November 2014 edition of CBC News and is available in its entirety at:
Five Must Dos to Avoid Extinction
Trade, the lifeblood of the global economy, is rapidly evolving. Volume is set to double over the next decade, traditional trade routes are shifting, and with the onset of digital trade - the very concepts of borders and goods are changing. While customs agencies are uniquely placed to support economic growth, facilitate trade and fight sophisticated crime, they may risk their countries' ability to generate revenue, maintain security and increase competitiveness unless they can adapt and survive in this new world.
This has been excerpted from a release by Accenture and is available in its entirety at:
Restrictive trade measures introduced by G-20 economies since 2008 continue to rise, according to the latest WTO report on recent trade developments issued on 6 November 2014. Given the continuing uncertainties in the global economy, the report stresses the need for countries to show restraint in imposing new measures and to eliminate more of the existing measures.
This has been excerpted from a 6 November 2014 news item by the World Trade Organization and is available in its entirety at:
The WTO released on 28 October 2014 new editions of its key statistical publications: International Trade Statistics, Trade Profiles, World Tariff Profiles and Services Profiles. The four publications provide a detailed breakdown of the latest trade developments.
This has been excerpted from a 28 October 2014 news item by the World Trade Organization and is available in its entirety at:
Turkey plans to standardize procedures at customs gates to speed up border transactions and unclog long truck lines, according to the Hürriyet Daily News.
Customs and Trade Minister Nurettin Canikli has ordered ministry officials to prepare a project to renew all 17 of Turkey’s customs gates as of next year, and renovate customs gate buildings and technology, according to a source close to the matter, Hürriyet Daily News reported.
The customs procedures of Turkey, which borders eight countries, have been criticized recently because of long lines caused by bureaucratic procedures and smuggling allegations, particularly after escalated violence in Syria, with which Turkey shares its longest border, Hürriyet Daily News said. For example, at a Turkish checkpoint in Kapikule, Bulgaria, the biggest border crossing from Turkey to Bulgaria and other European Union countries, truck lines Sunday stretched for 7.5 kilometers (about 4.7 miles), according to Turkish customs, the Bulgarian publication bTV reported.
The biggest change will be in the handling of passage transactions, according to Hürriyet Daily News. There are currently six different transaction points when a vehicle enters and exits the country, but now vehicles will be handled instead at single points.
Turkey’s burden of customs procedures was ranked No. 83 out of 144 global economies, according to the World Economic Forum’s Global Competitiveness Report 2014-2015. The country’s economy grew at a slower pace than expected in the second quarter of 2014, following months of political uncertainty and violence in Iraq and Syria, FT.com reported. Its gross domestic product growth slowed to 2.1 percent in the second quarter, below most forecasts and down from a revised 4.7 percent year-over-year gain in the first quarter, according to the publication.
This is from the 13 October 2014 edition of Journal of Commerce and is available at: