The heads of ITC, UNCTAD and the WTO have announced the rollout of an improved and expanded Global Trade Helpdesk
The platform now contains more trade information designed to empower firms of all sizes, particularly micro, small and medium size enterprises (MSMEs), to take advantage of market opportunities and adapt to new post-COVID commercial realities. The World Trade Organization (WTO) estimates that world merchandise trade could fall by 12% to 32% in 2020. The United Nations Conference on Trade and Development (UNCTAD) projects that global foreign direct investment inflows will decline by up to 40% in 2020, reaching their lowest level in two decades.
Ready access to trade and market information is a challenge for smaller firms
MSMEs have fewer resources to devote to analysing complex information dispersed across multiple sources. As businesses struggle with uncertainty, falling demand, and supply chain disruptions, getting the information they need to reach new customers and markets will be paramount. Since 2017, ITC, UNCTAD and the WTO have joined forces on the Global Trade Helpdesk initiative, in cooperation with many international organizations. This initiative has created a user-friendly digital platform that empowers MSMEs by providing a one-stop shop where businesses can find up-to-date trade statistics, export potential estimations, tariffs, regulatory requirements, as well as information about voluntary standards, and contact information for key public and private partners.
Learn more about digital tools HERE.
Users can now compare updated export potential estimations across different prospective target markets
The latest version expands data coverage, and offers a more intuitive user experience through improved design and new functionalities. To simplify market research for businesses, the Global Trade Helpdesk now includes COVID-19 resources from across international agencies, including information about temporary restrictions enacted in response to the crisis. The platform also provides improved coverage of trade statistics, import, export and transit trade procedures, a new business directory, resources to help protect intellectual property rights, as well as online resources from various agencies to build their trade and market analysis skills. The platform is accessible in Russian in addition to Arabic, English, French and Spanish.
Source/Image Credit: ITC