Germany’s Ministry of Economy and the Largest SME Association Take First Step Towards Enhancing Efficiency of Global Value Chains through New Digital Trade Tools
July 24, 2017
Officials from Germany’s Federal Ministry for Economic Affairs and Energy – International Digital Policy, G20 Digital and BVMW convened with GCEL to review the recommendations from the Germany Shipment and Trade Efficiency Assessment (SEA) report at the Ministry’s offices in Berlin on July 24, 2017. BVMW is Germany’s largest SME association with nearly 530,000 members.
As a perennial leader in trade efficiency, Germany seeks to further improve its trade efficiency by digitizing its global value chains, especially benefiting SMEs. The Germany SEA Report diagnosed current trade practices based on what technology makes possible today noting that Germany has the opportunity to further reduce its excess domestic and international trade costs by USD 58 billion annually, increase trade by more than USD 330 billion a year, and create over 2 million manufacturing, agriculture and service industry jobs. The results also yielded that 82% do not have an integrated system and 95% want the Digital Economy Platform to be more competitive in the global market place.
The 2017 G20 Germany Digital Economy Ministerial Declaration released in Düsseldorf during April 2017 recognized the potential for economic growth and social well-being that digital transformation brings to drive inclusive growth and jobs, sustainable development, and bridging the digital divides.
Digital Economy Embraced by ASEM High Level Forum on Connectivity in Qingdao, China
June 19/20, 2017
Following an official invitation from the China Council for the Promotion of International Trade (CCPIT) and the China Chamber of International Commerce (CCOIC), GCEL presented its global Digital Economy Initiative to 600 delegates attending the ASEM (Asia-Europe Meeting) High Level Forum on Digital Connectivity in Qingdao, China on June 19/20, 2017.
China’s Vice Premier of the State Council, H.E. Wang Yang, delivered the keynote address.
ASEM is an intergovernmental process established in 1996 to foster political, economic, social dialogue and cooperation between Asia and Europe. Presently it comprises 30 European and 21 Asian countries, the European Union and the ASEAN Secretariat.
GCEL’s presentation was well received as it was noted that we should not pursue digitalization for digitalization sake but to achieve sustainable economic growth. The starting point for a global solution must begin by digitizing the global value chains within the USA 140 trillion Business to Business market place that is projected to reach USD 312 trillion by 2025.
Since trade is of national security importance to all nations, not one organization, country or region can deploy a global digital trade solution due to monopolistic, geopolitical and data privacy concerns. We must all be part of the solution.
Manchester, UK and GCEL Discuss Equal Opportunity to Host the E-Hub of the World
A GCEL delegation met with economic development officials from the City of Manchester, United Kingdom, as part of GCEL’s equal opportunity process to select a qualified country to host the E-Hub of the World.
Manchester is seeking regeneration projects based on the Digital Economy and has reengineered itself away from its former industrial base to innovative growth sectors such as technology and the media. Manchester is leading the way forward in the U.K. with best practices towards regenerating older urban areas.
The E-Hub of the World is a technology center of excellence that is responsible to host, maintain and enhance the Digital Economy Platform, that seamlessly unites e-Commerce, e-Finance, e-Insurance and e-Logistics providing new levels of trade efficiency for the global value chains within the USD 140 trillion B2B market place. The E-Hub will be governed by a public body, technology firm, and an academic institution along with 28 semi-government organizations across the Americas, Asia, Europe, and Middle/East Africa. In addition, 12 of the world’s top technology firms comprise the E-Hub’s Technology Governance Board, which will build thousands of trade related app for use at no cost by the end users.
Several countries from across the globe are presently engaged at various stages with GCEL to qualify for selection to host the E-Hub of the World.
Mexico’s Ministry of the Economy Targets Digital Trade to Boost Exports
A GCEL delegation met with Minister Rogelio Garza, the Undersecretary of Industry & Commerce and his team, at the Mexican Ministry of Economy in Mexico City to profile GCEL’s global Digital Economy initiative. Discussions centered on the recommendations of the Mexico Trade and Shipment Efficiency Assessment (SEA) and the potential for Mexico to grow its trade within Latin America and the rest of the world by utilizing new digital tools demanded by its trade participants to increase trade efficiency, reduce trade costs and boost trade.
The Mexican Secretariat of Economy is the federal government agency that promotes the generation of quality jobs and the economic growth of the country by leading and implementing public policies to trigger the competitiveness and productive investments.
Mexico is seeking new ways of reenergizing its economy and the Digital Economy is seen as a primary means by which to accelerate its transition from low to mid and high value products. In addition, Mexico seeks to lessen its dependency on high income countries by improving the efficiency of its value chains in order to increase trade with partners globally.
Mexico’s Public/Private Sectors Trigger Trade Efficiency Assessment with GCEL to Reduce Costs, Expand Global Trade, and Create Millions of Jobs
May 23, 2017
Mexico’s Ministry of Economy, the Association of Importers and Exporters and the Confederation of National Chambers of Commerce, Services and Tourism (CONCANACO) applauded the completion of the Mexico Shipment and Trade Efficiency Assessment (SEA) report on May 23, 2017 in Mexico City, Mexico.
The Mexico SEA, performed in cooperation with GCEL, is a comprehensive diagnostic assessment of trade efficiency based on what technology makes possible today.
The attending Case Study team members included Mr. Juan Diaz Mazadiego, Director General of the Ministry of Economy, Mrs. Ana Ruth Solano Fragoso, Deputy Director General of the Ministry of Economy, Mr. Luis Enrique Zavala Gallegos, Director General of Mexico’s Association of National Importers and Exporters and Mr. Edmundo Victoria Mascorro, Vice President of CONCANACO.
The SEA results yielded that 96.7% of Mexican businesses have defined the new digital tools required to increase their global competiveness to reduce annual international and domestic trade cost by USD 126.5 billion, increase their trade by USD 353 billion, and create more than 11.8 million jobs.
INSME / OAS Forum Welcome Digital Technologies as Catalyst for International Growth and SME Productivity
May 16/17, 2017
The International Network of Small and Medium Enterprises (INSME) and the Organization of American States invited GCEL to present its global program to empower the Digital Economy at an international conference focused on ‘Improving Productivity in SMEs and Their Role in Global Value Chains” held in Puerto Vallarta, Mexico. May 16/17, 2017.
Mexico’s Minister of Economy, H.E. Ildefonso Guajardo Villarreal presided over the conference and spoke of the importance to use technology to align Mexico’s cost structure in order to better compete globally. The conference was well attended by more than 400 delegates from across the Americas, Europe, Asia and Middle East/ Africa regions.
INSME is one of the world’ largest organizations of its kind with 77 governments, IGO and NGO members across 36 countries in 4 continents acting in the field of innovation and technology transfer to SMEs.
GCEL’s delegation made special presentations about what todays’ technology makes possible today at key sessions including “Digital Technologies as a Catalyst for International Growth and Productivity” as well as “The Digitalization of SMEs”
India Integrated Transport & Logistics Summit Highlights GCEL’s Digital Economy Initiative
May 3-5, 2017
India’s Minister of Shipping, Shri Nitin Gadkari, inaugurated the India Integrated Transport and Logistics Summit organized by the Ministry of Road Transport and Highways in New Delhi on May 3, 2017.
The Minister stated that India’s logistics costs as a % of GDP are among the highest in the world due to various modes of transport growing and developing in silos, in an un-integrated manner.
In recognition of GCEL’s HumaWealth Program to improve logistics efficiency, India’s Ministry of Road Transport and Highways invited Tan Sri Abdul Rahman Mamat, Asia Logistics Council (ALC) Chairman and former Secretary General of Malaysia’s Ministry of International Trade and Industry to present how GCEL’s Digital Economy Platform seamlessly unites e-commerce, e-finance, e-insurance and e-logistics in order to reduce excess trade costs, increase trade and create millions of jobs. ALC is a founding member of GCEL.
India’s government embraces the need for digitization of its logistics providing multi-modal integration to drive greater efficiency of its global value chains and improve its competitiveness.
2017 Germany B20 Summit – Digital Economy is the Common Denominator for 6 of 9 B20 Policy Recommendations of the G20 for Building Resilience
May 1, 2017
GCEL participated at the 2017 Germany B20 Summit held in Berlin on May 1, 2017 where the Digital Economy was a common denominator among B20 policy recommendation to reenergize the global economy.
The Business 20 (B20) is the official G20 dialogue with the global business community. The B20 Policy recommendations span the entire scope of the G20 process: from the need to maintain an open, rule-based trading system, to facilitating sustainable finance and increased efforts to widen the inclusiveness and resilience of the labor market in the face of technological change. The overall aim of the B20 is to lead the global economy towards a sustainable and future-oriented path.
Several policy recommendations were put from the various B20 Task forces: Trade and Investment, Financing Growth and Infrastructure, Employment and Education, and Digitization. The use of digital technologies to facilitate increased trade as well as building capacities and advancing financial inclusion for SME were among the policy recommendations.
GCEL’s HumaWealth Program provides the “How” based on economic roadmaps published with pan regional organizations representing more than 150 countries. In addition, GCEL’s G20 Nations Case Study has defined the digital tools required based on the voice of the real economy participants.
Indonesia and GCEL Commence Planning for Deployment of the Digital Economy Platform through the Asia Benchmark Trade Lane
April 19, 2017
The Indonesia Chamber of International Commerce and Industry (KADIN) conducted a planning session with GCEL in Jakarta on April 19, 2017 for the launch of the Digital Economy Platform that will trigger enhanced efficiency and security of trade serving as a benchmark for Asia and the world thereby supporting sustained global economic growth.
The Asia Benchmark Trade Lane (BTL) will advance the G20 Leaders’ Digital Economy policy directives by implementing the digital trade tools defined by the G20 citizens, delivered by the technology industry leaders to the end users around the world, at no cost, based on what technology makes possible today.
The BTL will include governments, sellers/buyers, finance/insurance, and logistics service providers – everyone participating in the trade pipeline from shelf to shelf. The BTL is presently planned to be conducted between Indonesia and India.
KADIN is the umbrella organization of the Indonesian business chambers and associations and is focused on all matters relating to trade, industry and services, and is highly committed to tapping potentials and synergies of the national economy, offering a strategic forum for Indonesian entrepreneurs. Its aims include promoting investment and trade towards boosting economic growth in Indonesia and with its trade partners.
Japan Takes Leadership Role to Implement G20 Leaders Digital Economy Policy Directives
April 13, 2017
On April 13, 2017 in Tokyo, Japan, the Japan Chamber of Commerce and Industry (JCCI) convened a technical session with GCEL and other Japanese institutions to review the final report of the Japan
Representatives from JCCI, GCEL, PR Institute for International Studies and Training, and the International Development Center of Japan examined the Japan SEA recommendations to digitize Japan’s global value chain chains and drive an increase in Japan’s annual trade by USD 164 billion.
The Japan Chamber of Commerce and Industry (JCCI) is a network of comprehensive local economic organizations made up of the representatives of some 1.26 million member businesses nationwide, embracing everything from large and medium-sized corporations down to small firms and sole proprietors. JCCI’s goal is to encourage the full flowering of individual inspiration by helping member companies, their employees, and each community ceaselessly foster bold innovation, making the most of their own unique characteristics.
We highly thank JCCI’s leadership in the Japan SEA where 96% of businesses want the new digital tools to reduce excess trade costs by USD 119.6 billion and create more than 1.1 million jobs.
KTNET Embraces Digital Economy Platform to Further its Innovation in Digital Trade
April 12, 2017
Senior officials from KTNET, the Korea International Trade Association (KITA) and GCEL conducted a technical review session of the South Korea Shipment and Trade Efficiency Assessment (SEA) on April 12, 2017 in Seoul, Korea.
The South Korea SEA revealed that 65% of businesses want a Digital Economy Platform to connect with their trade partners globally in order to increase their trade by USD 134 billion, realize annual international and domestic trade cost savings of USD 12.7 billion and create more than 1 million jobs.
KTNET, established by KITA, is South Korea’s National Paperless Trade Infrastructure Operator with the aim to innovate the improvement of trade processes and reduce trade-related costs by automating services for all complex processes of export & import businesses through establishment of paperless trade infrastructure. It affects USD 5.57 billion annually in trade and services. KITA is currently the largest business organization in South Korea with over 71,000 member companies.
The fundamental problem affecting global trade is the lack of efficiency and transparency among trade partners leading to higher trade costs around the world. The Digital Economy Platform provides an integrated trade environment between all trade partners, domestically and internationally, thereby fostering more efficient trade leading to sustainable economic growth.
Singapore Convenes with GCEL to Explore The “E-Hub of The World” Digital Leadership Opportunity
April 1, 2017
The Singapore Economic Development Board convened a strategic discussion with GCEL regarding how the Singapore Government can take a leadership role to empower the Digital Economy towards reenergizing global trade. The discussion is part of GCEL’s equal opportunity process to select the most qualified country to host the “E-Hub of the World”, a technology center of excellence.
The E-Hub includes a visionary government, innovative technology firm and a renowned academic institution. GCEL has previously executed an MOU with the University of Singapore to provide its world class academic expertise towards building new digital tools to improve trade efficiency and boost trade.
The E-Hub is designed to include a Technology Governance Board comprised of 12 leading technology firms that will build and deploy thousands of apps for e-commerce, e-finance, e-insurance and e-logistics to be used by the real economy participants, at no cost through a unique business model.
To date, 26 of the world’s leading technology firms have executed strategic agreements as a first step to be selected under an equal opportunity process to deploy the digital tools.
GCEL’s European Advisory Board Convenes Regional Digital Economy Strategy Session
March 25/26, 2017
In view of GCEL’s objective to gain the voice of European citizens to shape the Digital Economy, several prominent experts convened a European Advisory Board strategy session in Rome, March 25/26, 2017. GCEL has also established similar advisory boards in the Americas, Asia and Middle-East / Africa.
The European Advisory Board members hail from several countries including the United Kingdom, Germany, Russia and Italy. Newly appointed members include: Mr. John Llewellyn, former OECD Chief of Staff; Mr. Rainer Ptok, Head of International Affairs BVMW, German’s largest SME Association; Professor Jay Mitra, Director of Innovation and Entrepreneurship at Essex Business School; Mr. Victor Sedov, President and Executive Director of the Center for Entrepreneurship, and Mr. Pietro Spirito, President of the Port System Central Tirrenean Sea.
Captain Samuel Salloum, GCEL Co-Chairman commented: “We are delighted with the appointments made and know that each will play a significant role in the development of strategy for the deployment of the Digital Economy across the Europe region.”
The European Board of Advisors will eventually increase to a full complement of 32 experts encompassing the fields of economic and trade development, technology, finance, insurance, logistics, cargo security, food safety, disaster relief response and academia from nearly all economies in the Europe region.
GCEL Contributes to 2017 B20 Germany / OECD Business and Industry Advisory Council (BIAC) Digital Economy Policy Recommendation
March 22, 2017
Concurrent with the 2017 B20 Germany Task Force sessions held at the OECD in Paris, March 22, 2017, GCEL contributed to the 2017 B20 / BIAC’s policy recommendations entitled: “The Case for a Coordinated G20 Policy Approach: Financing Sustainable Growth for SMEs Globally”
In order to address financing issues faced by SME, Business at OECD and the B20 launched a focused dialog with stakeholders, including B20 Taskforces, SME associations, governments, financial institutions, business and international organisations. The primary goal was to identify G20 priorities for enhancing finance for growth. Participants examined links and common denominators across all B20 recommendations to develop a holistic understanding of finance for growth, and in particular of SMEs and their markets.
GCEL’s Co-Chairman Captain Salloum contributed to the final report’s recommendations which included:
“G20 Leaders should help pave the way for the creation of global online platforms for data and information exchange. These should facilitate business-to-business trade among SMEs with robust and standardised governance, avoiding monopolistic control of access to data. Existing platforms should be reviewed to raise awareness and strengthen coordination, in particular among private sector-led voluntary initiatives for e-finance, e-insurance, e-logistics and skills”
International Finance Corporation (IFC) and GCEL Discuss How the Digital Economy Can Achieve the Sustainable Development Goals
February 2, 2017
IFC Executives, led by Philippe Le Houérou – Executive Vice President and CEO, convened with GCEL’s delegation on February 2, 2017 in Washington, D.C. to discuss how GCEL’s global initiative can assist to achieve the Sustainable Development Goals.
The IFC is a member of the World Bank Group and is the largest global development institution focused exclusively on the private sector in developing countries. IFC’s goals are to end extreme poverty by 2030 and boost shared prosperity in every developing country.
GCEL’s global initiative aligns well with the IFC’s stated aim. The deployment of new digital tools to manage trade activities within the global value chains will create greater greater transparency and efficiency, thereby lowering the risk of doing business between high, mid and low income countries. In turn, businesses in mid and low income countries will reduce their excess trade costs, ease access to financing, better connect with distant markets and attract greater investments.
The resulting growth in trade will build the incomes of the mid and low income countries thus lifting millions out of poverty.
GCEL Invited to Present Implementable Policy Formula at G20 Business Forum On Innovation
November 3, 2016
During China’s 2016 G20 Science, Technology and Innovation Ministers Meeting, the G20 Business Forum on Innovation was co-held by China’s Ministry of Science and Technology, CCPIT, and CCOIC in Beijing on November 3.
China’s Vice Minister of Science and Technology, Wang Zhigang; 2016 B20 Chairman, Jiang Zengwei; and Argentina’s Minister of Science, Technology and Productive Innovation, Lino Baraňao, provided the opening remarks.
Dr. Surin Pitsuwan, GCEL Asia Advisory Board Chairman and former ASEAN Secretary General, received a special invitation to present GCEL’s Digital Economy initiative before more than 200 entrepreneurs, experts and scholars from G20 members and guest countries.
Dr. Pitsuwan illustrated GCEL’s “Implementable Policy Formula” to bridge the gap of diminishing trust between policy leaders and the citizens they represent towards achieving sustainable economic growth.
Key elements of the formula included: 1) the Digital Economy as the common denominator to implement good policy, 2) the G20 Nations Case Study representing the “Voice of the G20 Citizens” who have defined the digital tools required to be more competitive in the global market place and, 3) the commitment by the world’s leading technology firms to deliver the digital tools that the citizen’s demand.
GCEL Consolidates Its Reputation as a Strong Advocate for Innovative Solutions for SMEs at the 12th Annual Meeting of INSME 2016 in Doha
April 12, 2016
In recognition of GCEL’s Digital Economy proposal and the value that this would bring to SMEs, GCEL—an INSME Sustaining Member—was invited to the 12th Annual Meeting of the International Network for Small and Medium Enterprises (INSME 2016) that was held in Doha, Qatar on April 12-14, 2016.
GCEL delivered three separate engagements with the other members of INSME, consolidating its reputation as a strong advocate for innovative solutions for SMEs and having a focus on action and implementation. GCEL provides the roadmap and the tools to define and deliver the real Digital Economy toward greater SME prosperity.
First, GCEL led a roundtable meeting titled “The Voice of the G20 Citizens and the Tools that SMEs Demand from the Digital Economy in Order to Increase Their Efficiency and Productivity”.
Second, Dr. Surin Pitsuwan addressed the INSME General Assembly. His speech focused on the opportunities provided to SMEs through the Empowered Digital Economy and the creation of a global USD 1 trillion SME fund.
Third, Tan Sri Abdul Rahman Mamat gave the keynote address at the NSME Gala Dinner. He spoke of the endorsement by the B20/G20 and the global consensus advocating the importance of the Digital Economy towards achieving sustainable economic growth, the results to date of the G20 Nations Case Study, and the commitment from the technology industry to implement GCEL’s policy for an Empowered Digital Economy. He also emphasized the benefits to SMEs and the creation of a recurring USD 1 trillion SME fund.
Canada’s Public/Private Sectors Trigger Trade Efficiency Assessment with GCEL to Reduce Costs, Expand Global Trade, and Create Millions of Jobs
March 24, 2016
GCEL and the Business Council of Canada formally initiated the Canada Trade Efficiency Assessment (TEA) at the Council’s headquarters in Ottawa. The Business Council of Canada is a non-profit, nonpartisan organization comprising chief executive officers of major Canadian corporations that collectively administer CAD 4.5 trillion in assets with a workforce totaling more than 1.4 million men and women. The attending Case Study team included officials from Global Affairs Canada (GAC), the C.D. Howe Institute, the Canadian Society of Customs Brokers, the International Federation of Customs Brokers Associations (IFCBA), the Canadian Association of Importers and Exporters, and the Supply Chain Management Association.
Since the 2008 global financial crisis, the Canadian economy has seen a modest return to growth as it remains challenged by volatile oil prices, sensitivity to the Eurozone crisis, and higher-than-normal unemployment rates. In order to diversify exports, the federal government and many Canadian industries have expanded trade with growing Asian markets.
With one of the world’s highest levels of Internet access in the world, Canada’s focus to digitize its supply chains and improve trade efficiency will provide the foundation to increase its exports and generate millions of new jobs.
China Embraces Digital Innovation and Launches National Trade Efficiency Assessment
March 11, 2016
Leading industry associations in China convened in Beijing to launch GCEL’s China G20 Nations Case Study as the first step to deploy the Digital Economy Platform towards achieving greater trade efficiency and reduce trade costs. Led by the executive director of the City Logistics Research Centre of China, the assessment team members included the National Development and Reform Commission – Institute of Comprehensive Transportation Development Strategy Research, the China Supply Chain Financial League, the Express Branch of China Communications and Transportation Association, and the Beijing Jiaotong University – School of Traffic and Transport.
According to the Nielsen Company’s China Logistics Industry Outlook, China’s logistics expenditures have doubled in the past 5 years, rising from USD 900 billion in 2009 to approximately USD 1.8 trillion in 2014. This increase has been driven by greater domestic consumption, expanding global exports, and the growth of e-commerce—requiring more efficient logistics throughout its economy.
As of 2014, China was ranked 28th in the World Bank’s Logistics Performance Index and its logistics costs represent 18% of GDP as compared to the average logistics spending of 12.8% in the rest of Asia.In recognition of its position as the world’s leading manufacturer, China’s industries are committed to adopt new digital tools to maintain their global competitiveness in trade.
Argentina Ministries, Industry Associations, and Academic Institutions Embark on Digital Transformation
March 2, 2016
In cooperation with GCEL, the Argentine Industrial Union (UIA) convened with several Argentine ministries and associations in Sao Paulo to take the first step towards the digital transformation of Argentina’s global value chains. UIA is the leading industrial employer federation and advocacy group in Argentina.
The Argentinian delegation included representatives from Argentina’s Ministry of Production, Ministry of Transportation, Ministry of Interior, the National University of General San Martín, the Association of Metallurgical Industries of Argentina (ADIMRA), and Acindar Industrial—Argentina’s largest steel producer.
Argentina is Latin America’s third largest economy and the second largest in South America behind Brazil. Through recent economic reforms, Argentina has embarked on digital transformation to reduce excess landed import-export costs and increase transparency, which in turn will attract greater foreign direct investment across industries, creating millions of jobs.
Upon the completion of the TEA, it is projected that by implementing new digital tools as recommended by the Argentine trade community, Argentina will decrease its trade costs by at least USD 8.6 billion and increase international trade by USD 28.4 billion.
GCEL Re-appointed to 2016 China B20 Taskforces, Highlighting the Importance of the Digital Economy to Sustain Global Economic Growth
January 26, 2016
Following its advocacy during the 2015 Turkey B20 resulting in the Digital Economy becoming a key policy directive of the 2015 G20 Leaders Communique, GCEL was re-appointed to five 2016 China B20 Taskforces. Through GCEL’s interventions during the 2015 Turkey B20 Task Force sessions, the Digital Economy was identified to impact 17 out of 25 key 2015 Turkey B20 recommendations to the G20 Leaders
At the B20 2015 China Kick-Off session in Beijing, the B20 leaders took forward the Digital Economy momentum that had started in Turkey, recognizing the importance of digital innovation to boost global trade. Consequently, the Digital Economy was established as a key objective of the Trade, Employment, Infrastructure, and SME Taskforces.
During the general plenary and panel sessions, notable interventions from public and private sector leaders acknowledged the significant importance of the Digital Economy as the enabler for achieving global economic growth. The B20 2016 China Sherpa, H.E. Yu Ping, also agreed that the implementation of the Digital Economy recommendations from 2015 B20 Turkey was an important policy focus requiring implementation to rebalance the global economy.
The Digital Economy Is a Key Policy Recommendation at the 2015 B20 Turkey Summit
November 14, 2015
The Digital Economy was among several key policy recommendations set forth at the 2015 B20 Summit in Antalya to support the G20 leaders in their ongoing mission to implement structural reforms and to ensure strong, sustainable, and balanced growth.
Thorough GCEL’s interventions on 5 Taskforces (Trade, Infrastructure & Investment, Financing Growth, Employment, and SMEs & Entrepreneurship), GCEL contributed thoughtful and considerable policy recommendations through documentation, analysis, and active engagement.
The B20 recommendations to the G20 Leaders included the development and adoption of a comprehensive digital environment for customs procedures and cross-border automated clearance systems in all G20 countries through public-private collaboration. In addition, the recommendations cited the need to increase youth employment and female labor-force participation as well as to make data on SME creditworthiness more transparent and available so that various finance tools that reduce risks associated with SME lending can be used effectively.
These recommendations directly align with GCEL’s global Digital Economy initiative to digitize global trade that will create greater trade efficiency, reduce trade costs, ease access to finance, and increase global trade—thereby creating millions of jobs in the manufacturing, agriculture, and service industries throughout the high, mid, and low income countries.
France Industry Associations and Academia Commence Diagnostic Assessment of Digital Tools Required to Drive Trade Growth
November 5, 2015
With the objective to address the challenges facing sustainable trade growth, the Chamber of Commerce and Industry (CCI) of France International hosted the commencement of the France National Trade Efficiency Assessment (TEA) at its headquarters in Paris. The CCI of France is responsible for representing the interests of 32,000 commercial, industrial, and service companies.
Attending members of the France TEA team also included the Movement of the Enterprises of France (MEDEF), ACSEL – French Association for Digital Economy, and ESCP Europe. MEDEF is is the largest employer federation in France and ASCEL is the French hub for digital transformation. ESCP Europe is the world’s oldest business school considered to be one of the best business schools in Europe and in the world.
GCEL and the team members reviewed the TEA scope, survey methodology, and the survey process, which aim to identify the digital tools required within the France global value chains in order to reach new levels of transparency and efficiency across all economic zones within the country. It is projected that by deploying new digital tools, France will decrease its trade costs by USD 3.67 billion and increase trade by USD 15.83 billion.
The 2015 Turkey B20 Partners with GCEL to Present “The Voice of The G20 Citizens” at the B20 Digital Economy Conference
October 6, 2015
GCEL led the keynote panel at the first ever B20 Digital Economy Conference in Istanbul – The Third Wave: Digital Economy and The Industrial Internet. The conference included more than 300 technology industry executives who will be invited by GCEL via an RFP to participate in a new USD 500 billion market opportunity to deliver the Digital Economy based on what the world’s citizens demand.
GCEL’s Co-Chairman Captain Samuel Salloum headed a distinguished panel of technology experts from Wipro Technologies, eBay, Intel, PayPal, Vestel, and Boeing. The panelists agreed that we must listen to the voice of the real economy participants at the ground level to determine the Digital Economy tools they need.
The panel also presented the results to date of GCEL’s G20 Nations Case Study along with the Turkey Trade Efficiency Assessment—the first in Europe—that was completed in cooperation with TUSIAD, three Turkish ministries, and the Nielsen Company.
So far, 40% of the G20 citizens surveyed through the G20 Nations Case Study have defined what the Digital Economy should look like. The benefits from digitizing global trade include USD 1.3 trillion in annual trade cost reduction, USD 1.2 trillion in trade increase, and the creation of nearly 100 million new jobs.
Japan Chamber of Commerce and Industry Kicks Off Japan’s Trade Efficiency Assessment
October 2, 2015
The Japan Chamber of Commerce and Industry, a network of organizations comprising 1.3 million Japanese businesses, met with GCEL in Tokyo to kick off the Japan G20 Nations Case Study to identify the digital tools needed to boost Japanese exports worldwide.
Japan is the world’s third largest economy, yet its economic growth has been nominal and is forecasted to be below 1% during the next several years. Faced with an aging population and sluggish demand, Japan seeks to improve its trade efficiency, better connect with foreign markets, and grow trade with the mid and low income countries.
Trade costs in the mid and low income countries are nearly 2-3 times higher than those in the high income countries. The use of new digital tools by mid and low income countries to increase their trade efficiency and transparency as well as reduce trade costs will de-risk doing business with high income countries. Such digital tools will contribute to triggering more investment and will ease access to finance for the mid and low income countries—thereby increasing their purchasing power, resulting in the ability for high income countries to increase their exports of high value products and services.
It is projected that by deploying new digital tools, Japan will decrease trade costs by USD 43.81 billion and increase trade by USD 32.31 billion.
South Korea Commences Trade Efficiency Assessment to Boost Exports
October 1, 2015
The Korea International Trade Association (KITA) and GCEL officially launched the South Korea G20 Nations Case Study to diagnose trade efficiency practices towards improving South Korea’s competitive position in the global marketplace.
KITA was established in 1946 with the objective of advancing the Korean economy through trade and is currently the largest business organization in Korea with over 71,000 member companies. Other Case Study team members include Korea’s Ministry of Land, Infrastructure, and Transport; Ministry of Oceans and Fisheries; the Logistics Research Institute; and the Korea Transport Institute.
During the launch session held in Seoul, GCEL presented the Case Study survey methodology, which includes face-to-face interviews of trade participants across the country’s economic zones covering all 19 industry trade clusters. The assessment is based on GCEL’s 21st Century Six Elements Trade Efficiency Indicators (21-6-ETEI) that evaluate an organization’s trade efficiency based on what technology makes possible in relation to its current levels of integration, E-Documentation, tracking and visibility, processes, competence, and cargo security.
The final Case Study report will include recommendations by South Korea’s trade participants of those digital tools they need to reduce their trade costs and increase exports.
INSME and GCEL Execute Collaboration Agreement to Foster SME Growth Through the Digital Economy
September 8, 2015
The International Network for Small and Medium Sized Enterprises (INSME) and GCEL executed a Memorandum of Understanding (MOU), establishing a fruitful collaboration to provide tangible digital solutions to create greater prosperity for SMEs. The MOU was signed by Mr. Andrea Di Anselmo, INSME President and Mr. Gregory Bird, GCEL’s Deputy Secretary-General.
INSME is a not-for-profit association whose mission is to stimulate transnational cooperation as well as public and private partnerships in the fields of innovation and technology transfer to SMEs.
Recognizing the overriding need to secure a brighter economic future for SMEs globally, both parties seek to energize trade for SMEs through the adoption of a comprehensive and innovative economic development program that will boost trade efficiency, expand trade and market opportunities, create a substantial number of new jobs, and increase business opportunities for SMEs with the rest of the world—leading to a sustained economic growth.
GCEL’s HumaWealth Program includes the deployment of a Digital Economy Platform that will deliver an environment permitting the dynamic validation of trade information, allowing the creation of the smart e-Finance matrix, and providing the dynamic scoring levels needed to expand trade finance for SMEs.
GCEL Executes MOU with the Islamic Development Bank in Jordan
September 6, 2015
GCEL and the Islamic Development Bank (IDB) through the International Islamic Trade Finance Corporation (ITFC) executed an MOU as the first step in the process for the IDB to become a member of the Governance of the Integrated Digital Economy (GIDE) Board of Directors (BOD).
The GIDE is comprised of the largest Development Financial Institutions that will govern and monitor the operations of the AxioMark (e-Commerce), AxioFin (e-finance), and AxioIn (e-Insurance) platforms, which will serve as the sustainability engine of the Digital Economy.
GCEL also developed a three-step process in conjunction with ITFC to engage other development banks to join the GIDE BOD.
ITFC and GCEL concluded a Memorandum of Understanding (MOU) on June 6, 2014 for collaboration on the HumaWealth Program through the deployment of the Digital Economy Platform and Benchmark Trade Lanes (BTL) in order to enhance the efficiency and security of trade and sustained economic growth of the Organization for Islamic Cooperation (OIC) Member States.
2015 Turkey B20 Conference Highlights the Power of the Digital Economy
September 3, 2015
The 2015 Turkey B20 Conference was held in Ankara, where business leaders convened to deliberate on how to reenergize the global economy. GCEL’s Co-Chairman, Captain Samuel Salloum, joined a distinguished panel of leading business executives from Accenture, World Economic Forum, Alibaba Group, Vodafone, Vestel, and the OECD.The executives discussed “Policies in the Digital Era: How to Best Use Technology to Reshape the Global Economy,” where Captain Salloum introduced the 3 foundations of the “Implementable Policy Formula” that can facilitate sustainable economic growth.
First, is identifying the common denominator among policies that can drive positive economic results. In fact, the Digital Economy has impacted 17 out of 25 key B20 policy recommendations. Second, the real economy participants must validate the policy benefits, which have been echoed through GCEL’S G20 Nations Case Study, where 90% of the respondents want new digital tools to do a better job. Finally, following this validation, the capable industry must commit to deliver the required solution. To this end, the world’s leading 26 technology firms have executed strategic agreements to deliver upon the policy makers’ recommendations and implement the new digital tools demanded by the real economy participants.
As such, an Empowered Digital Economy that digitizes our trade and that represents the best means to use technology to reshape the Global Economy gained wide recognition.
UAB’s Economic Assessment for MEA Region Complementary to B20 Digital Economy Recommendations
August 28, 2015
High level officials from the MEA region’s most prominent banking associations, representing more than 350 financial institutions, presided over the release of the Union of Arab Bank’s (UAB) Economic Assessment report in Beirut, Lebanon. The officials discused how the implementation of its recommendation can be achieved through the Digital Economy.
A key observation from the report was the paucity of inter-Arab trade and the Arab region’s strong international trade with G20 nations. While improved inter-Arab trade is a key recommendation, the report acknowledged that with its vast market potential, the Arab region requires even greater economic alignment with the G20 nations.
As a member of five 2015 B20 Taskforces, GCEL provided an analysis noting that all of the Arab region’s economic report recommendations closely aligned with the draft B20 recommendations. Moreover, 17 of 25 key B20 draft recommendations were identified as being impacted by the Digital Economy.
The Digital Economy will significantly drive new levels of real economic growth globally—resulting in a USD 5.5 trillion market opportunity in the fields of e-commerce, e-finance, and e-insurance while creating nearly 100 million jobs globally.
|UAB and GCEL Execute Strategic Agreement to Drive New Global USD 5 Trillion Digital Financial Services Market|
March 5, 2015
The Union of Arab Banks (UAB) signed a Memorandum of Understanding (MOU) with GCEL at the 5th Arab-Turkish Economic Dialogue (UAB G20/B20 Conference) in Istanbul on March 5, 2015. This MOU triggers a new USD 5 trillion financial services market opportunity through empowering the Digital Economy Platform (DEP).
The MOU was signed by Mr. Wissam Fattouh, UAB Secretary General and Tan Sri Abdul Rahman Mamat, GCEL Asia Chairman on behalf of Captain Samuel Salloum, GCEL Co-Chairman. This MOU was signed in the presence of the Acting Undersecretary of Treasury and G20 Turkey Finance Deputy, H.E. Mr. Cavit Dagdas and the President of the Islamic Development Bank Group, H.E. Dr. Ahmed Mohamed Ali. The MOU also provides for the UAB to join the Integrated Digital Economy Advisory Board alongside regional banking associations from Europe, Africa, Asia, and the Americas.
The DEP environment includes optimally performing levels of e-Commerce, e-Finance, e-Insurance, and e-Logistics—encompassing the pillars of global trade—as well as e-Grants that will drive real economic integration unleashing under commercialized and under financed markets throughout the world.This mutual cooperation is designed to implement the required roadmap to make trade more efficient by using 21st Century technology. In addition, the empowered Digital Economy can create national trade visibility to maximize logistics physical infrastructure investment returns by providing dynamic information regarding current and future trade volumes, and new tools to efficiently manage resources to avoid shipment bottlenecks, and to optimize existing logistics infrastructure and prioritize future investments.
|ACCI-GCEL Sign MOU to Deploy the Digital Economy through the HumaWealth Program|
August 4, 2014
The Australian Chamber of Commerce and Industry (ACCI) and GCEL executed a landmark MOU solidifying Australia’s leadership in empowering the Digital Economy through GCEL’s HumaWealth Program. ACCI CEO Kate Carnell and GCEL Co-Chairman Captain Samuel Salloum signed the Agreement at Australia’s Parliament House. Dr. Surin Pitsuwan—Asia Logistics Council Advisory Board Chairman, ASEAN Secretary-General (2008-2012), and former Thailand Foreign Minister witnessed the MOU signing along with other international officials.
The MOU followed the official launch of the Australia Trade Efficiency Assessment with government and private sector experts, who will perform a diagnostic evaluation of Australia’s trade practices against what technology makes possible today. The assessment will provide recommendations of how the use of digital tools will reduce Australia’s trade costs, increase trade, and create jobs. Furthermore, the Digital Economy will contribute towards achieving the goals of the Trans-Pacific Partnership (TPP) as well as Regional Comprehensive Economic Partnership (RCEP).
Ms. Carnell stated that ACCI was pleased to join GCEL’s global public -private sector-led initiative to reduce international trade costs, leading to enormous economic growth and job creation. The 18-month HumaWealth Program will empower the Digital Economy by delivering a new era of integrated e-commerce, e-finance, e-insurance, e-logistics, and e-grants to achieve greater levels of trade efficiency.