The economic change in recent times has underlying causes we all can recognise.
We know from past data that uncertainty damages global trade. Continuing ambiguity in the UK is a practical demonstration, a factor in the World Trade Organisation forecasting a year on year growth fall for 2019.
Increasing trade barriers are not going to help, or retreating into national enclaves. Allowing business to operate in a global environment assists us all and emerging economies often have a positive view.
Internal and international business conferences are taking place in new locations. They can bring cooperation, also knowledge of opportunity to local companies, ways to build their exposure and business contacts.
An Overseas View
In an interview with the Oxford Business Group, Qatar’s Business Chamber chairman stated that “promoting local products requires organising trade missions, participating in trade exhibitions, and cementing cooperation with other countries.”
Useful input, from a small country which has developed an international business presence and promoted itself as a destination. Also one which recently joined the ATA carnet family and set up excellent training programs for commerce of all sizes.
Bangladesh is less well known but has seen exports grow 600% in 10 years. Direct trade deals with India, Nepal, Bhutan and others have helped and they would like to go further. Their ICC president recently urged the government to:
“Promote trade, investment and achieve sustainable development. Integrating with trade promotional instruments is essential, especially the ATA Carnet”.
Trade building has many aspects, Bangladesh are focused on educational improvement, Qatar has made legal changes to encourage the presence of overseas businesses. ATA carnets are not a sole answer but they make a contribution.
For business to flourish, goods need to flow across borders alongside people. This applies to temporary access as well as permanent.
Businesses visiting a country should feel welcome and avoid delay, from film makers, to those attending exhibitions. Products and services also need to be taken out of a developing country and demonstrated, at reasonable cost, with low admin.
Neither does this just apply to smaller nations. China’s decision to expand ATA carnet use earlier this year was a commercial decision. They had seen and measured the benefits of partial use, especially in increasing growth.
China are not in an ideal business phase and other countries could say the same, yet they see the answer as stimulating progress. In macro and micro economic terms, this naturally involves more than the use of one customs document.
We are still pleased to provide a document which does help trade, so corporations can meet targets and smaller businesses become larger. Our team see their work as a privilege, by all means talk to them if they can help your business.