Public and private sector executives convened in Washington DC on December 15, 2017 to conclude the USA SEA report, setting forth the roadmap to increase trade efficiency and USA exports.
GCEL met with U.S. Small Business Administration officials and discussed how new digital tools for SMES can reduce their excess trade and operational costs towards creating greater international trade. Discussions were also held exploring the deployment of the Digital Economy Platform through an Americas Benchmark Trade Lane between the USA and Brazil.
The USA SEA report was also reviewed by executives representing the U.S. Department of Trade – Office of the International Trade Administration, Bankers Association for Finance and Trade (BAFT), the Alliance for Transportation Innovation, the Ocean Carrier Equipment Management Association and George Mason University.
The diagnostic assessment of USA trade practices, based on what today’s technology make possible, collected nearly 60,000 data points through face to face interviews across 19 industry trade clusters. The results yielded that by digitizing its global value chains, the USA can reduce annual international and domestic trade costs by USD 735.8 billion, increase trade by USD 480 billion and create nearly 3.2 million manufacturing, agriculture and service industry jobs.