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Trade Facilitation Commission Launches Initiative to Boost UK Exports and Foster Economic Growth
New Commission set up to help UK traders access international markets
LONDON, April 19, 2024 /PRNewswire/ — Some 30,000 UK companies who exported goods in 2021 do not do so today. The Trade Facilitation Commission (TFC) has been established to bolster UK small and medium-sized enterprise (SME) global trade activity, addressing the current challenges where less than 10% of UK SMEs engage in goods exports, a third of GB importers are unsure of their customs duty payments and nearly half have experienced delays at the port.
Despite the potential for growth through international trade and mutual recognition agreements many UK SMEs face barriers ranging from complex regulations to limited resources, hindering their ability to engage in global trade activities effectively.
“The Trade Facilitation Commission is dedicated to unlocking the potential of UK SMEs in the global market,” said Lord Agnew, Chairman of the TFC.
Robert Hardy co vice-Chairman added “Our initiatives aim to remove barriers, provide support, and equip SMEs with the tools and resources they need to succeed in international trade.”
Through a comprehensive approach, the TFC plans to implement various measures to facilitate trade and support SMEs, including:
- Simplifying trade procedures and reducing bureaucratic hurdles to make global trade more accessible and efficient for SMEs.
- Providing tailored assistance and guidance to SMEs, including access to market intelligence, trade finance, and trade training programs.
- Strengthening partnerships with key stakeholders, including government agencies, industry associations, and trade promotion organisations, to coordinate efforts and maximise impact.
- Leveraging technology to digitise trade processes, improve transparency, and enhance the competitiveness of UK SMEs in the global market.
“By fostering an environment conducive to trade, we not only empower businesses but also drive economic growth and prosperity for the nation as a whole,” said Shanker Singham, co vice-Chairman of TFC.
The launch of these initiatives underscores the TFC’s commitment to fostering a supportive environment for trade and driving inclusive economic growth. By empowering UK SMEs to expand their presence in global markets, the Commission aims to unlock new opportunities, drive innovation, and propel the nation towards greater prosperity.
Website: www.facilitation.trade
About Trade Facilitation Commission
The Trade Facilitation Commission (TFC) is dedicated to promoting trade facilitation and supporting SMEs in the UK. With a focus on reducing trade barriers, enhancing competitiveness, and fostering economic growth, the TFC works closely with stakeholders to streamline trade processes and empower businesses to seize global opportunities. Through advocacy, policy initiatives, and capacity-building efforts, the Commission aims to create an enabling environment for trade and drive sustainable development across the UK.
About the Commissioners
LORD AGNEW – CHAIRMAN
Former Minister of State at the Cabinet Office (2020-2022) responsible for border readiness related to UK’s exit from the European Union.
ROBERT HARDY – CO VICE CHAIRMAN
Founder and CEO of the EORI Group of companies, specialising in simplified customs processes. AIBF UK-Irish Business Person of the Year 2023.
SHANKER SINGHAM – CO VICE CHAIRMAN
One of the World’s leading experts on international trade, competition and regulatory reform. Co-Chair of the Growth Commission.
LARS KARLSSON
Global Head of Trade and Customs at Maersk. Former Director of World Customs Organisation and Director General of Swedish customs.
TONY SMITH CBE
Former Director General of UK Border Force and Director of Borders Canada. Awarded a CBE for vital role in delivering 2012 London Olympics. Chairman of IBMATA (Int Border Management and Technologies Association)
KEVIN FRANKLIN
Former Director of Customs Transformation at HMRC. Associate of the Cabinet Office infrastructure and projects authority.
FRANK DUNSMUIR
Leads the Digital Transformation team at IOE&IT, projects include Kenyan Single Trade Window, UK EcoSystem of Trust, Freeports as well as projects working with Europoort in the Netherlands
KEVIN SHAKESPEARE
Director of Strategic Projects and International Development at IOE&IT (Institute of Export and International Trade). Dean of the UK Customs Academy.
CHRIS SALMON
Former senior advisor to Michael Gove MP on Brexit Border Readiness. Co-Founder of clearBorder a firm specialising in trade training.
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View original content:https://www.prnewswire.co.uk/news-releases/trade-facilitation-commission-launches-initiative-to-boost-uk-exports-and-foster-economic-growth-302122199.html
FloQast, a fintech company based in the United States specializing in finance and accounting operations, has appointed Josh Glover, a former executive at nCino, as its new President and Chief Revenue Officer (CRO).
Glover will oversee all go-to-market units, including customer success, sales, marketing, and business development, and will report directly to FloQast co-founder and CEO, Mike Whitmire.
He succeeds Ken Sims, who will transition into the newly created role of Chief Business Development Officer.
Before joining FloQast, Glover spent over 11 years at nCino, a cloud banking technology provider, where he rose through the ranks to become President and CRO, the same title he now holds at FloQast.
Prior to his fintech career, Glover served as a Marine Corps special operations and infantry officer for over a decade, leading four combat deployments, including three tours to Iraq and one to Afghanistan. He has been honored with several awards for his service, including the Bronze Star Medal for valor, the Silver Star Medal, and three Purple Heart Medals, among others.
Whitmire emphasized Glover’s exceptional leadership qualities and extensive experience, stating that he is the ideal candidate to lead FloQast’s revenue growth initiatives.
Founded in 2013, FloQast utilizes AI technology to streamline the month-end closing process. Earlier this month, the company announced the successful conclusion of its Series E funding round, securing $100 million and achieving a post-money valuation of $1.6 billion.
Source: fintechfutures.com
The post FloQast Appoints Josh Glover, Former nCino Executive, as President and CRO appeared first on HIPTHER Alerts.
BUDAPEST, Hungary, May 3, 2024 /PRNewswire/ — Multiple achievements were made on Thursday at a conference focused on cooperation between China and Hungary under the Belt and Road Initiative (BRI) framework.
Under the guidance of China’s State Council Information Office, the conference was co-hosted by Xinhua News Agency and Hungary’s ATV Media Group in Budapest.
Xinhua has always been committed to concentrating efforts and contributing to the joint building of the Belt and Road between the two countries, President of Xinhua News Agency Fu Hua said while addressing the event.
The conference aims to further implement the consensus reached by leaders of the two countries and promote pragmatic cooperation at various levels across the board so as to make new and greater contributions to the Belt and Road cooperation between the two countries with more innovative results, Fu said.
At the conference, the Belt and Road Economic Information Partnership (BREIP), which was initiated by Xinhua News Agency, inaugurated an Eastern European liaison office.
The China NGO Network for International Exchanges launched a non-governmental Belt and Road cooperation project with Hungary.
The official website of the BRI introduced a dedicated sector for industrial cooperation between China and Hungary.
A report on investment and cooperation between the two countries under the Belt and Road framework was also released.
About 200 people, including government officials, representatives from chambers of commerce and the business sector, as well as heads of major media outlets and think tanks from both countries joined the event.
Fu noted that Xinhua will continue to provide in-depth coverage of high-level interactions between the two countries and present major achievements of the two countries’ high-quality Belt and Road cooperation in an all-round and multi-perspective manner.
Stressing efforts to strengthen exchanges with Hungarian think tanks, Fu also urged making full use of platforms and mechanisms including the World Media Summit and the BREIP to roll out even more tangible results.
Fu also stressed the importance of providing services for China–Hungary cooperation in various areas and better promoting the in-depth integration of the BRI cooperation and Hungary’s “Opening to the East” policy.
Hungary and China have achieved fruitful results in Belt and Road cooperation, Hungarian Minister for National Economy Marton Nagy said at the conference, citing the Hungary-Serbia railway project as an example.
Hungary sees China’s economic development as an important opportunity, Nagy said, stressing that investment from Chinese companies including Bank of China, CATL and BYD has been driving the development of related industries.
Nagy said Hungary is willing to strengthen mutually beneficial cooperation with China in areas such as infrastructure and high-tech, and act as a link between China and Europe.
Liu Hongcai, deputy head of the Chinese Association for International Understanding, called for efforts from various sectors of the two countries to thoroughly implement the important consensus reached by the leaders of the two countries and further promote people-to-people exchanges and mutual learning between civilizations.
More momentum for future-oriented cooperation should be fostered and cooperation platforms at all levels should make full use of their advantages to respond to global challenges, Liu said.
Liu voiced his hope that people from all walks of life in the two countries will make active contributions to promoting bilateral relations.
During the past years, economic ties and trade between the two countries have flourished, said Tamas Kovacs, CEO of ATV.
Based on the extensive cooperation between ATV and Chinese media outlets, the audience is able to have a better understanding of the fruitful achievements of the two countries’ joint efforts, Kovacs said, adding that such cooperation will be carried on to help the two peoples to better understand each other’s culture and values.
Participating guests also visited a photo exhibition on the pragmatic BRI cooperation between China and Hungary.
View original content:https://www.prnewswire.co.uk/news-releases/multiple-achievements-made-in-china-hungary-bri-conference-302135240.html
Latest News
Franklin Templeton Collaborates with Microsoft to Develop Cutting-Edge Financial AI Platform
Franklin Templeton Teams Up with Microsoft to Develop Advanced Financial AI Platform
Franklin Templeton, an esteemed investment management firm, has announced a strategic partnership with tech powerhouse Microsoft to create an “advanced financial AI platform” tailored for its employees and clients.
Utilizing Microsoft’s Azure AI service suite, Franklin Templeton aims to leverage cutting-edge development tools to realize its vision. This suite encompasses a range of powerful tools, including the OpenAI service and the GPT-4 large language model, alongside AI Search and AI Document Intelligence functions.
With assets under management exceeding $1.6 trillion, Franklin Templeton is poised to revolutionize its operations through this partnership. By rapidly integrating AI into its processes, the firm seeks to enhance the productivity of its sales and marketing teams while providing clients with personalized support. This will be achieved by streamlining structured data and contextual financial information.
Deep Srivastav, Head of AI at Franklin Templeton, elaborates on the platform’s approach, highlighting a multi-layer intelligence strategy where individual AI capabilities are synchronized to create advanced business intelligence.
This initiative underscores Franklin Templeton’s commitment to exploring AI applications in financial services. Notably, the firm recently demonstrated its dedication by supporting Transparently.AI, a Singapore-based AI software vendor, in a $3 million pre-Series A funding round.
Meanwhile, Microsoft continues to solidify its presence in the financial sector. The recent announcement of First Abu Dhabi Bank tapping into Microsoft’s Azure AI services to establish its AI Innovation Hub further emphasizes the tech giant’s pivotal role in shaping the future of finance.
Source: fintechfutures.com
The post Franklin Templeton Collaborates with Microsoft to Develop Cutting-Edge Financial AI Platform appeared first on HIPTHER Alerts.
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