“We play a direct role in multiplying the benefits of trade”
“International trade has helped lift over a billion people out of poverty. At the same time, we recognise that we need to make global trade available for everybody so that all can share in its benefits. That’s why a key pillar of our sustainability strategy is to multiply the benefits of trade by supporting countries to implement the World Trade Organization’s (WTO) Trade Facilitation Agreement (TFA) – and why we work with the Alliance to do it.
“Maersk’s local teams in project countries have supported the development of Alliance projects including in Morocco, Sri Lanka and Vietnam by helping to diagnose the major border issues, and connecting the Alliance team to our key contacts such as businesses in our supply chain. We have also contributed our data experts and our own unique methodology to help the Alliance identify the biggest challenges that businesses face and measure the impact of projects. It is the first methodology to provide a holistic view of trade costs, combining direct transport costs and fees with measures of the indirect costs that traders face due to unpredictability at borders.
“According to the WTO small and medium sized enterprises provide two thirds of all jobs but pay twice as much for logistics as large firms. Accelerating trade reform through the TFA can make growth more inclusive as barriers for countries, entrepreneurs and small businesses come down. That’s a story we want to be part of.”