5 pt2 Department of State Dispatch 594 (1994)
Focus on Business - 1994 World Summit on Trade Efficiency

handle is hein.journals/dsptch12 and id is 202 raw text is: Trade Summit

Focus on Business
1994 World Summit on
Trade Efficiency

World Summit and the
Information Superhighway
Exciting business opportunities are
likely to mushroom in markets around
the world in the wake of the General
Agreement on Tariffs and Trade and
North American Free Trade Agree-
ment trade liberalizations, but how can
entrepreneurs of small- and medium-
sized businesses participate in the
emerging new ventures? Can state-of-
the-art technology and the information
superhighway bring new opportunity
as close as your computer keyboard?
Where can U.S. entrepreneurs go to
network with key international public
and private decision-makers with the
power to influence marketing and
information technology opportunities?
These questions-and more-will
be answered at the World Summit on
Trade Efficiency in Columbus, Ohio,
October 17-21, 1994. It will focus on
trade efficiency-the use of modern
information technology to expand
international trade. Co-sponsored by
the UN Conference on Trade and
Development (UNCTAD), the city of
Columbus, and private sector business,
this unique event will attract national
ministers of trade and mayors, as well
as 2,000 other public and private sector
leaders from the around the world.
The symposium will consist of four
separate but interlinked parts:
The UN International Symposium
on Trade Efficiency will bring
together trade ministers and other
senior officials from 187 UNCTAD
member countries to discuss the appli-
cation of new technology in inter-
national trade. This meeting will
review practical measures which can
be taken in customs, business infor-
mation, trade procedures, banking/
insurance, transport, and telecommuni-
cations to facilitate world trade.

At the Global Summit for Mayors,
300 mayors from around the world will
examine the new local government/
private sector partnership for develop-
ment. Hosted by Columbus Mayor
Gregory Lashutka, key topics will
include municipal infrastructure for
trade, cities and global competition, and
the impact of international trade and
electronic commerce on urban employ-
ment.
The Global Executive Trade
Summit will concentrate on CEOs
from small- and medium-sized busi-
nesses in assessing opportunities and
requirements for global trade and
building strategic advantages in a
world of networks. This summit will
feature a variety of distinguished
speakers and panels on such topics as
global competition and the information
revolution, global trade alliances for
small- and medium-sized companies,
global payments systems, and restruc-
turing business around trade efficiency.
Parallel to the summit will be regional
focus sessions on business strategies
for Europe, Africa, Asia, the Western
Hemisphere, and the Middle East.
The World Trade Efficiency and
Technology Exhibition will demon-
strate a wide spectrum of technologies
and applications for trade produced by
many countries. The emphasis will be
on education, with hands-on opportu-
nities to try out a variety of electronic
commercial solutions for trade effi-
ciency. More than 150 prominent
exhibitors--including the European
Union and major multinational corpora-
tions--will attend.
The Global Executive Trade
Summit and World Trade Efficiency
and Technology Exhibition are open to
CEOs and other senior executives from
the business community. In addition,
special plenary luncheons and recep-
tions, open to all participants, will offer

Trade Summit

594 U.S. Department of State Dispatch * September 5, 1994 * Vol. 5, No. 36

an opportunity for entrepreneurs to
network with other key public and
private sector leaders attending this
unprecedented worldwide symposium.
Pioneering Project In
Trade Efficiency
The symposium is linked to an innova-
tive UNCTAD program designed to
lower the costs of conducting interna-
tional trade and to ease entry by small-
and medium-sized businesses into
global commerce by providing access to
resources and information that previ-
ously may have been unavailable to
them. Trade efficiency will lower the
cost of international trade deals by
10%--a savings of $100 billion each
year in transaction costs. This far
exceeds the cost savings from more
conventional tariff and non-tariff
reductions.
What Is a Trade Point?
The new UNCTAD program uses
Electronic Data Interchange (EDI) and
other technologies to establish a
network of Trade Points around the
globe. These Trade Points provide
electronic access to representatives of
all the participants needed to engage in
a trade transaction-from customs to
freight forwarders, bankers, insurers,
and transportation companies.
Through the network, companies can
identify and compete in new markets
for their products, source components,
and raw materials, and advertise their
goods electronically in a multi-media
catalog.
In February 1992, UNCTAD
authorized the establishment of a pilot
program of 16 Trade Points. In August
1992, Columbus, Ohio, was designated
as the site of the North American
Trade Point (NATP). Today, there are
46 Trade Points on five continents, and
UNCTAD estimates that the Global
Trade Point network could number in
the hundreds by the end of 1995. The
global network will be launched
officially at the World Summit on
Trade Efficiency and will be demon-
strated at the Technology Exhibition.

594

U.S. Departmnent of State Dispatch - September 5, 1994 - VoL 5, No. 36

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