UK and WTO | 2018 World Trade Summit | Preparing for peak

Posted on 8/11/2018 by DHL Express

UK status in the WTO

Following some objections from WTO members with regards to the new and updated UK schedule, International Trade Secretary, Dr Liam Fox, wrote for the Telegraph to clarify misconceptions on World Trade Organisation negotiations. Dr Fox made clear that in the unlikely event of a “no deal” between the UK and the EU, the UK will be able to take full control of our trade policy in March 2019.

As a full founding member of the WTO, UK status is no different to Canada or Japan. Previously, as a member of the EU, the UK would speak as part of one voice at the WTO, but before we exit the EU we need to separate documents known as schedules from the EU’s. These are the documents that describe the tariffs, quotas, subsidies, and regulatory commitments that underpin the UK’s position in the multilateral trading system.

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2018 World Trade Summit

Last week the Institute of Export and International Trade (IOE&IT) hosted its annual World Trade Summit. A new export research paper from Barclays and the Policy Institute at King’s College was the focus of many presentations that opened the day. The research looks at how the UK can improve its export performance and help exporters do more.

There were several key findings, one being that improving export performance is intrinsically linked to overall economic performance. It also outlined how the UK needs more ‘Superstar Exporters’ – companies that export 10 or more products to 10 or more markets. The impact of creating more ‘Superstar Exporters’ is that more smaller businesses throughout the supply chain would then be more likely to export as well.

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Get ready for the peak of all peak seasons

November has become synonymous with a frenzy of online consumption, and each year the value of online sales smashes the previous year’s record. Black Friday and Cyber Monday are now staples in the e-commerce diary but by far the fastest growing opportunity is Singles’ Day.

China’s Singles’ Day on 11 November has become the biggest shopping day on earth, reaching some US$25bn in online sales in just 24 hours. The shopping extravaganza started by Alibaba in 2009 reached at least 225 countries and regions last year and at its peak, the company’s processors handled some 256,000 transactions per second.

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