Global trade landscape and processes
International trade is in a constant state of flux and pressure. The global trade landscape has been shifted by the recent ongoing global trade-related events such as the China-United States trade measures, implementation of new trade sanctions globally, introduction of new Free Trade Agreements (FTAs), trade defence measures such as anti-dumping and anti-subsidy duties, etc. Many economies are shifting their focus to indigenisation rather than globalisation.
The COVID-19 pandemic, followed by the ongoing Russia-Ukraine situation has led to a further crunch of the global supply chain.
Customs authorities are focusing more on managing revenue deficits, with customs audits on the rise, particularly in the case of valuation. Governments, intergovernmental organisations, and corporations are also increasingly focused on environmental, social and corporate governance (ESG) issues when carrying out global trade.
Organisations need to keep up to date on the new and rapidly changing trade environment to be able to respond quickly and ensure that their global trade processes smoothly without interruptions and with optimal operational effectiveness.
