Governments around the world consider cargo security to be of vital importance in their efforts to protect their citizens, borders and economies. For example, if one cargo container exploded, in addition to the damages that this would cause in terms of human life and property, the whole trade lane would be shut down.
The damages would be massive, inventories would pile up, ports would be choked, investments would be lost and free trade agreements would be jeopardized.
Finally, the reopening of the trade lane would be risky: Until today, there is no real transparency in global cargo to ensure that no more explosives are on the way. Read more
For any security system to be embraced worldwide, it must include benefits for commerce. In other words, efficiency and security must go hand in hand. Efficiency by itself may compromise security. In contrast, overarching cargo security rules and regulations could damage the economy.