ICC News

26 July 2019: The International Chamber of Commerce (ICC) welcomes the European Union (EU) and Canada’s announcement to utilize international arbitration panels to resolve trade disputes under World Trade Organization (WTO) rules. Following leader-level talks at the recent EU-Canada Summit, the EU and Canada have agreed to the creation of a new trade dispute resolution arrangement in place of the World Trade Organization’s (WTO) Appellate Body – responding to the continued gridlock in appointing judges to the WTO’s appeals court. Under this agreement, trade disputes involving the EU or Canada will be submitted to specialist arbitration panels operating under rules modelled on those currently used by the Appellate Body. Responding

24 July 2019: As national digital taxation proposals continue to emerge, ICC calls for governments and business to adopt a unified approach to taxation of the digitalised economy. Taxation of the digitalised economy remains a leading topic on the global tax agenda as policymakers seek to address the implications and opportunities presented by digitalisation. Political pressure is evident as governments around the world explore solutions to ensure that income generated from cross-border activities in the digital age is taxed appropriately. France has taken the lead by introducing domestic digital taxation measures. Other countries have considered adopting similar measures, including Czech Republic,

23 July 2019: The International Chamber of Commerce (ICC) sat down with Daniela María Rojas García to discuss the future of the Incoterms® rules in space. Listen now on Spotify | Apple Podcasts TC: Hello my name is Tim Conley and I am the Global Communications Officer at the International Chamber of Commerce. Welcome to A Day in the Life of the Incoterms® rules. ICC is the international body that drafts and maintains the Incoterms rules. As part of this series and in anticipation for the launch of Incoterms® 2020, we are going to sit down and talk with the users of the Incoterms®

18 July 2019: Article 6 of the Paris Agreement was the focus of attention at the UN Climate Change Conference in Bonn. But what is Article 6 and why is it important to increasing climate action? Increased ambition to curb greenhouse gas (GHG) emissions was at the heart of June’s United Nations Climate Change Conference in Bonn, Germany. Under the Paris Agreement, the 194 Parties to the United Nations Framework Convention on Climate Change (UNFCCC) committed to shifting the world’s course towards sustainable development and “holding the increase in the global average temperature to well below 2°C above pre-industrial levels and pursuing efforts to

17 July 2019: As part of the first instalment of A Day in the Life of Incoterms, the International Chamber of Commerce (ICC) spoke to Bob Ronai, a member of the Incoterms® 2020 Drafting Group, about the Incoterms® rules and his passion for international trade. When Bob Ronai started his career in international trade five decades ago, many of the defining characteristics of today’s global trade system did not exist. For starters, rule-setting organisations, like the European Union (EU) and World Trade Organization (WTO), were just ideas. In the absence of Skype and mobile phones, communication networks relied upon telephones, telefax

17 July 2019: The International Chamber of Commerce (ICC) has published guidance on intellectual property (IP) valuation to provide business with a common knowledge base for valuing IP assets. With the help of 30 experts from 15 counties, ICC has released the ICC Handbook on Valuation of Intellectual Property Assets. The ICC handbook serves as a reference for business and valuation professionals. From large multinational corporations to micro-, small-, and medium-sized enterprises (MSMEs), more and more businesses are conducting IP valuations as part of development and corporate brand strategies. The ICC handbook explains that IP valuations are usually conducted with a broader

10 July 2019: The International Chamber of Commerce (ICC) Banking Commission has issued new electronic rules (eRules) to advance the digitalisation of trade finance practices. The ICC Banking Commission has released electronic supplements to the existing Uniform Rules for Collections (URC 522) and Uniform Customs and Practice for Documentary Credits (UCP 600) rules. The new eRules, which came into effect on 1 July, will provide rules for banks operating in today’s increasingly digital trade finance system. In June 2017, ICC formed the “Digitalisation in Trade Finance” Working Group to evaluate challenges faced by banks as trade finance progresses toward a paperless

9 July 2019: The Canadian Chamber of Commerce and the Torino Chamber of Commerce (Italy) are the latest members to join the International Certificate of Origin (CO) Accreditation Chain. The Canadian Chamber of Commerce and the Torino Chamber of Commerce (Italy) were announced as the newest members of the International Certificate of Origin (CO) Accreditation Chain at the 11th World Chambers Congress in Rio de Janeiro during a meeting of the International CO Council. “We are very pleased to welcome the Canadian Chamber of Commerce as the 25th chamber member of the ICC WCF International CO Accreditation Chain,” said Martin Van der

8 July 2019: The seas around West Africa remain the world’s most dangerous for piracy, the International Maritime Bureau’s (IMB) latest report reveals. Of the 75 seafarers taken hostage onboard or kidnapped for ransom worldwide so far this year, 62 were captured in the Gulf of Guinea – off the coasts of Benin, Cameroon, Guinea, Nigeria and Togo. Worldwide, the International Chamber of Commerce’s IMB Piracy Reporting Centre recorded 78 incidents of piracy and armed robbery against ships in the first half of 2019, compared with 107 incidents for the same period of 2018. Overall, 57 vessels were boarded successfully, representing

28 June 2019: The International Chamber of Commerce (ICC), Blockchain development company Perlin and the Dubai Chamber of Commerce and Industry have signed an exclusive partnership for the distribution of innovative blockchain products developed under the newly established Centre of Future Trade based in Singapore. The Centre of Future Trade, established by ICC and Perlin with the support of Enterprise Singapore, has now signed a major new distribution partner for its technology products with the Dubai Chamber now having exclusive rights to market and distribute innovative blockchain solutions, developed by ICC and Perlin, in the Middle East and Africa. “ICC is committed