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  • 16 Nov 2018 by Global Chamber

    Global Chamber was pleased to support Growing Global this week in London.

    Executive Director of Global Chamber London Paul Vousden hosted a stand at the Going Global Business Show in the Excel exhibition centre in the business hub area of Docklands.

    The show was a great opportunity for entrepreneurs to learn more about export and import opportunities in the face of the impending Brexit deal.

    The UK has always been an international centre for trade and commerce and, although it will in future be operating outside the EU, it is showing signs of an emerging confidence in re-establishing itself as a major global exporter.

    The explosion of the Internet in recent years has allowed even the smallest company to start promoting itself to a global audience and to become a worldwide brand.

    There was a great buzz at the show and it highlighted the determination of British businesses to grow and develop in a post Brexit world.

    Paul Vousden commented. “There is a real feeling of confidence and a willingness to innovate with more and more companies looking to trade with the rest of the world. Its almost as if the UK has re-found its place on the global stage now that it is no longer constrained by the EU”.

    Looking to grow somewhere outside the UK? Let's talk! We're in 525 metros around the world... everywhere!

     

     

  • 06 Oct 2018 by Global Chamber

    We are please to announce a partnership between Global Chamber, Global Chamber London and Going Global Live: Going Global is the UK’s number 1 Expo for taking your business overseas and expanding internationally. The show will be held in the London ExCel on the 14th & 15th of November.

    With 100’s of expert speakers, suppliers and masterclasses, this event will provide everything for the most ambitious business owners looking to seize the global marketplace. From advice on marketing and cracking new markets, to all the expertise needed on overseas logistics and operations, plus incredible networking opportunities, this event is one not to be missed!

    Going Global is run along-side The Business Show - which is going to be celebrating its 40th edition in November with over 25,000 business owners in attendance.

    Global Chamber London is excited to be working with this event and want to make sure that our members make the most of the amazing opportunities Going Global Live brings with it. As members of Global Chamber; you will be entitled to a special discount to exhibit!

    To be part of this event, inquire today by contacting the event director, Gavin Harris, on 01872218007 or email gavin.harris@prysmgroup.co.uk. Be sure to mention that you are a member of Global Chamber to be eligible.

    Alternatively, you can go as a visitor registering for your free ticket here!

    We look forward to seeing you there.

     


     

  • 04 Jan 2018 by Global Chamber London

    Artificial intelligence, or AI, has transformed from a futuristic tech novelty to a modern-day business tool. With artificial intelligence, computers are able to take data and “learn” from it, analyzing the data in a way that allows the computer to make accurate predictions and educated decisions. As the technology has matured, businesses in all industries are working hard to develop applications for AI that will boost their productivity and improve their operations. And it’s no wonder why: a study by business research group Accenture found that artificial intelligence has the potential to double economic growth rates within the next 20 years, while increasing productivity by 40%. The international trade sector has quickly caught on to the artificial intelligence trend. With so much data generated by companies, there is ample opportunity to improve trade processes with artificial intelligence. Here are four ways international trade is beginning to benefit from the technology.

    1.     Enabling more proactive supply chains

    Supply chains already thrive on data from start to finish. Online orders, warehouse packing slip data, and shipping station freight scans can all feed data to a logistics program driven by artificial intelligence. These programs can provide a variety of benefits to supply chains. They can anticipate supply chain disruptions and formulate plans to compensate. They can predict customer behavior to regulate stock, preventing order shortages or overages. They can also calculate the fastest and cheapest shipping routes and foresee customer cancelations. Ultimately, an artificially intelligent supply chain is a proactive supply chain, one that is incredibly agile and able to alleviate the impact of inevitable disruptions.

    2.     Enhancing time-saving compliance software

    One of the biggest challenges of international trade is compliance. Companies have to know who they are doing business with and watch for clients, suppliers, or business partners who violate trade restrictions. With those restrictions constantly evolving, compliance can pose a time-consuming challenge to international businesses. Of course, software already exists to aid with compliance, but that software isn’t always foolproof. It’s prone to false positives and false negatives, which means that human review is often required. Because of its learning capabilities, artificial intelligence can improve compliance software by reducing the amount of false positives and negatives, thus reducing the amount of additional human review and input necessary to maintain compliance.

    3.     Creating smarter contracts

    Trading generates a lot of contracts. While these contracts take time and money to formulate, review, and comply with, they are often neglected unless a problem arrives. Enter artificial intelligence. AI  can transform trade documents, often entangled in legalese, into useful documents that can help businesses operate more easily within the parameters of the contract, and even reduce the risk of legal issues. Legal-based AI programs can catalog contracts, making sure they are being implemented properly throughout the business. This helps protect companies from legal risks and ensures that they are also benefiting from the contract with on-time payments and deliveries from clients and suppliers. AI allows businesses to properly execute contracts and avoid risks without devoting a lot of manpower to contract compliance.

    4.     Increasing access to trade financing

    One way AI stands to benefit international trade has to do with how banks approach financing trade-based businesses. An estimated 80% of businesses who deal in international trade take advantage of financing, but it can be hard to come by. Many banks are hesitant to lend to traders due to concerns about trade regulation compliance. While banks have traditionally required a legion of compliance officers to review loans for international businesses — the expense of which can add onto financing fees — AI can now shoulder the burden of compliance analysis. Some financial institutions are taking advantage of artificial intelligence platforms to analyze compliance and, with the time and expense of compliance review lessened, can offer more financing options to international businesses. Artificial intelligence is being hailed as the future of business, from the way companies manage their supply chains and deal with legal issues, to how companies anticipate and meet consumer demand. Supply chain management, regulations compliance, contract management, and access to financing are just some ways international trade businesses stand to benefit from AI now. A continued influx of artificial intelligence tools are sure to emerge as businesses embrace and explore the technology. Disclaimer: The opinions expressed in this article are those of the contributing author, and do not necessarily reflect those of the Forum for International Trade Training.
     

  • 07 Jan 2018

    The U.S. rejected China's Ant Financial's acquisition of MoneyGram International Inc Tuesday.  

    British trade minister Liam Fox said on Wednesday that London would continue to welcome foreign investment, after a U.S. panel rejected a Chinese acquisition of a U.S. money transfer company on national security concerns.

    Fox was on a visit to China ,the latest installment in long-running economic talks between China and Britain, which has taken on new importance for Britain as it looks to re-invent itself as a global trading nation after leaving the European Union in 2019.

    The U.S. rejection of of China's Ant Financial's acquisition of Moneygram International Inc is the most high-profile Chinese deal to be torpedoed under the administration of U.S. President Donald Trump. 

    Asked whether Britain would serve as an alternative destination for such Chinese investment, Fox told Reuters in an interview that he hoped the investment relationship would "work in two directions", but that Britain would remain open.

    "Of course, we would look, as other countries would do, at our security issues in terms of investment. But the UK has traditionally been an open country, welcoming of foreign direct investment. And we'll continue to do that," Fox said.

    He did not comment specifically on the U.S. panel decision.

    China is one of the countries with which Britain hopes to sign a free trade pact once it leaves the EU, and London and Beijing have been keen to show that Britain's withdrawal from the bloc will not affect ties.

    Fox said that the issue of China's service sector openness was a "big issue" for Britain, but that there were more options than a post-Brexit free trade agreement (FTA) to get Beijing to open, including specific service sector agreements and mutual recognition deals.

    "There are a whole range of tools in the box. And people tend to talk as though an FTA is the only tool we have available in terms of trade liberalization. It's not," he said.

    The focus on a "Golden Era" of relations, trumpeted by China and Britain in 2015 when then-prime minister David Cameron hosted a state visit by Chinese President Xi Jinping, has cooled under Cameron's successor, Theresa May.

    In 2016, May caused a diplomatic spat by unexpectedly deciding to delay approval of a partly-Chinese funded nuclear power project. She later granted it, but not before drawing criticism from Beijing.

    May is expected to visit China later this month accompanied by a business delegation, diplomatic and business sources have told Reuters, though the trip has not been formally confirmed.