11 January 2022 In this guest post, Carolyn Nguyen, Jakob Greiner and Makoto Yokozawa underscore how establishing trust and minimising disruptions in data flows are fundamental to reaping the benefits of digitalisation. “To harness the opportunities of the digital economy and support the trade of goods and services, data should be able to flow freely across borders with trust, including the trust of individuals and businesses,” opens the Data free flow with trust chapter of the Digital Trade Principles agreed by the G7 countries at the G7 Trade Track on 22 October 2021. We strongly support this sentiment and the clear call to action
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6 January 2022 In this guest blog, Rene Summer, Lead of the ICC Global Digital Economy Commission Working Group on Cybersecurity underscores the private sector call on governments to make cybersecurity everyone’s business saying there is no time to wait. On 17 December, the United Nations Open-Ended Working Group on security of and in the use of Information anc communication technologies (ICTs) wrapped up the first substantive meeting of its five-year mandate to further develop the rules, norms and principles of responsible behaviour of states and the ways for their implementation. Mid-January, the UN open-ended ad hoc intergovernmental committee will hold its first
20 December 2021 We’re wrapping up another ground-breaking year in dispute resolution with a look back at our key achievements – from being named the world’s preferred arbitral institution to taking new diversity and inclusion initiatives. 1. Receiving record Arbitration and ADR case filings In January, ICC announced record case filings for its arbitration and ADR services, recording a total of 946 new arbitration cases in 2020. Revised ICC Rules of Arbitration entered into force on 1 January 2021, along with updates to the ICC Court’s Note to Parties and Arbitral Tribunals on the Conduct of Arbitration. A full statistical report was
15 December 2021 ICC has today announced the formation of a new Legal Reform Advisory Board (LRAB) to support the legal harmonisation efforts of the ICC Digital Standards Initiative. As part of our drive to promote inclusion and create opportunity for all parties involved in the international supply chain, the International Chamber of Commerce (ICC) launched the Digital Standards Initiative (DSI) in 2020 in partnership with the Asian Development Bank (ADB) and the Government of Singapore, with the vision to establish a globally harmonized, digitalised trade environment. The new Legal Reform Advisory Board will work under the auspices of the DSI Governance Board
14 December 2021 A major independent report published today by ICC spotlights the need for a significant overhaul of global trade rules if governments are to meet their stated aim of accelerating the adoption of circular business models. A major independent report published today by ICC spotlights the need for a significant overhaul of global trade rules if governments are to meet their stated aim of accelerating the adoption of circular business models. The study – The Circular Economy and International Trade: Options for the World Trade Organization – highlights that while international trade has a vital role to play in promoting resource
6 December 2021 ICC has published updated guidance for responsible environmental marketing communications to help marketers and advertisers make truthful and useful environmental claims. As consumers become more interested in the environmental footprint of the products they buy, the updated ICC Framework for Responsible Environmental Marketing Communications (the “ICC Framework”) helps marketers evaluate environmental communications to maintain consumer confidence in these claims. The ICC Framework helps marketers craft environmental messages that adhere to the basic global principles of truthful, honest and socially responsible communications. The climate crisis has sparked growing momentum on climate action globally, including collective efforts by governments and
25 November 2021 ICC crowned four chamber champions as winners of the 2021 World Chambers Competition, the only awards ceremony of its kind to recognise innovative projects undertaken by chambers from around the world. Held in conjunction with the 12th World Chambers Congress, the World Chambers Competition has served as a platform to inspire the creation of pioneering and beneficial chamber solutions for business communities worldwide since its inception in 2003. Lima Chamber of Commerce (Peru), Luxembourg Chamber of Commerce (Luxembourg), the East Lancashire Chamber of Commerce (United Kingdom) and Potsdam Chamber of Commerce and Industry (Germany) were all named category
23 November 2021 ICC has today joined a global coalition of industry associations in urging members of the World Trade Organization to keep the Internet free of tariffs ahead of the 12th WTO Ministerial Conference (MC12). Supported by 73 industry associations active across six continents, the Global Industry Statement on the WTO Moratorium on Customs Duties on Electronic Transmissions urges WTO Members to renew the Moratorium until the 13th Ministerial Conference. The statement reads: “Allowing the Moratorium to expire would be a historic setback for the WTO, representing an unprecedented termination of a multilateral agreement in place nearly since the WTO’s inception – an
New roadmap published to reconceive global trade finance for a more sustainable and inclusive global economyICC Albania2022-01-12T18:42:54+02:00
18 November 2021 ICC, in collaboration with Fung Business Intelligence and supported by McKinsey & Company, has today launched a report outlining a new vision for the global trade finance ecosystem. The report is based on a year-long effort by the ICC Advisory Group on Trade Finance to raise awareness and address the challenges facing micro-, small- and medium-sized enterprises (MSME), particularly in the emerging markets, in accessing the trade finance needed to support their growth and the global recovery. According to the Asian Development Bank, the trade financing gap reached US$1.7 trillion in 2020, an increase to 10% of global
17 December 2021 We’re concluding our year with a round-up of key achievements on behalf of 45 million businesses in over 100 countries. From helping businesses weather the COVID-19 crisis to preparing a resilient rebuild, we’ve had a busy year making business work for everyone, every day, everywhere. From leveraging our real economy expertise to drive an effective response to enabling greater inclusion in the global trading system, here are 6 ways we’ve worked to enable peace, prosperity and opportunity for all this year. 1. Shaping an effective response to COVID In January, ICC published ground-breaking research, showing that unequal access to COVID vaccines carried greater downside risk to a global recovery than previously estimated and called