The new alliance was announced at the 10th WTO Ministerial Conference in Nairobi, Kenya and consists of governments, international companies such as Maersk Group, DHL and Wal-Mart, and the International Chamber of Commerce and the World Economic Forum.
The objective of the Global Alliance for Trade is to accelerate trade facilitation reforms by supporting swift and wide implementation of the WTO Trade Facilitation Agreement (TFA). Today, customs processes can involve large amounts of documentation that typically are not digitalised. This and lack of coordination between private and government actors adds unnecessary waiting time and delays to traded goods, resulting in added inventory costs and the risks of penalties for importers and exporters.
“When fully implemented, the WTO Trade Facilitation Agreement will represent an important step toward minimising supply chain barriers and reinvigorating global trade. By joining the Alliance with governments and partners, the Maersk Group will use its local expertise to support the implementation and stimulate local growth,” says Maersk Group CEO Nils S. Andersen.Read more
Press release dated Thursday 17 December 2015