Breaking down barriers to global trade

The 17 Sustainable Development Goals (SDGs) adopted by the United Nations in 2015 are a universal call to action to end poverty, protect the planet, and ensure that all people enjoy peace and prosperity by 2030. The UN identified international trade as an important means to achieving the SDGs. Trade barriers, such as customs procedures, which are often bureaucratic, non-transparent – and corruption-prone – hit developing countries particularly hard and make it more difficult for them to access world trade.

The World Trade Organization (WTO) recognized that bureaucratic delays and "red tape" are a burden on traders moving goods across borders hampering economies to grow. WTO members ratified a landmark Trade Facilitation Agreement, which came into force in 2017. Trade facilitation – the simplification, modernization, and harmonization of export and import processes – has therefore emerged as an important issue for the global system of trade.

But how exactly do we facilitate international trade and sustainable economic growth, especially in developing and least developed countries? And how do we ensure that an increase in cross-border trade is sustainable?

The answer is by removing red tape at the border and helping small and medium-sized business in developing countries access the global marketplace. GoTrade is designed to match our strengths with priority global needs and to work with leading international organizations so that our resources are channeled for maximum effectiveness.

In line with our company purpose to connect people and improve lives, GoTrade is about expanding the reach and benefits of globalization.

Helping SMEs in the world’s developing and least developed countries access global markets is a proven way to connect people and improve lives. To do that, we need to break down the barriers to global trade byspeeding up the customs clearance process, minimizing bottlenecks at borders, and reducing the costs associated with crossing borders. We work together with government agencies and international organizations to make these necessary changes and help cultivate an environment in which SMEs can thrive and cross-border trade can grow.

In 2020, we initiated a cooperation with the German Federal Ministry for Economic Cooperation and Development to promote digital customs and trade processes and e-commerce in Africa. Initiatives include a new digital system to allow companies in Africa to complete customs procedures online and new e-commerce platforms to create new sales markets.

We’re also working with WTO Member Countries to ensure that reforms laid out in the Trade Facilitation Agreement (TFA) are implemented in a way that supports real sustainable economic growth. Our focus is on those countries that require outside assistance to put these measures into practice. These are typically developing countries, and we’re working with them to establish national trade facilitation committees comprising members of the public sector involved with trade, such as customs and trade ministries. This provides us with an opportunity to engage with governments in order to develop policies and processes that support sustainable economic growth.

Published: October 2020