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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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