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Global Trade Brief – June 2021

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Adopting a Flexible Approach

 

Asia is among the fastest-growing regions in the world. Countries such as China, India, and Indonesia have proved to be the world’s growth engine in recent years. However, the region suffers from several issues when it comes to trade. Perhaps the biggest challenge for Asian countries is to streamline their supply chains. At present, the supply chains in the region are unorganized and face major hurdles such as weak infrastructure and widespread corruption. Therefore, traders based in Asia need to ensure that they are paying enough attention to their sourcing mechanisms.

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Helping You Stay On Top of Multiple Tariffs

The Asian region includes 50 countries, and each of these has its own rules and regulations. For instance, the tariff structure in China is very different compared to the one in Japan. This implies that international traders must remain updated about the tariffs and other regulatory requirements for each country. These regulations also tend to change on a consistent basis, indicating that traders need solutions that can keep them notified. Finally, traders also need to make sure that they are able to keep track of all their exports at one glance.