ACCI AND GCEL SIGN MOU TO DEPLOY THE DIGITAL ECONOMY

The Australian Chamber of Commerce and Industry (ACCI) and the Global Coalition for Efficient Logistics (GCEL) signed an MOU at Australia’s Parliament House to support deployment of the Digital Economy through the HumaWealth Program. The agreement was signed by ACCI CEO Kate Carnell and GCEL Co-Chairman Captain Samuel Salloum, witnessed by Dr. Surin Pitsuwan and international officials.

The MOU followed the launch of the Australia Trade Efficiency Assessment, which evaluates current trade practices and identifies how digital tools can reduce costs, increase trade, create jobs, and support TPP and RCEP objectives.

Similar assessments in Indonesia, Saudi Arabia, Malaysia, and Turkey found that 81% of trade participants lack a system and 88% support the proposed Digital Economy Platform. More than 22% of the world’s population, representing one-third of G20 citizens, support the initiative.

The 18-month HumaWealth Program promotes integrated e-commerce, e-finance, e-insurance, e-logistics, and e-grants through participation from major regional organizations and G20 economies including India, Indonesia, Turkey, and Saudi Arabia.

The initiative will create a global proposal process for deployment of the Digital Economy Platform across a USD 6 trillion market. Globally, the Digital Economy is projected to reduce annual trade costs by USD 1.3 trillion, increase trade by USD 1.2 trillion, create a USD 1 trillion SME Fund, and generate 100 million jobs.