Order from us for quality, customized work in due time of your choice.
Trade and Supply Chain Improvement Initiatives
The ability to operate supply chain (SC) and trade processes in an efficient manner is inextricably connected to modern states economic success and status in the international market. At the national level, optimal performance in this regard can be ascertained using a vast array of strategies. To promote trade and SC efficiencies, Canada, Denmark, and China implement and consider various initiatives based on sustainable development, facilitation of trade, new technology, and free-trade zones.
Some of Canadas initiatives for boosting efficient SCs and trade revolve around green development and improving the transportation industrys competitiveness. Regarding projects that are already in place, since 2001, the government has been investing in greener and more efficient SCs through the Sustainable Technology Canada foundation (Innovation, Science and Economic Development Canada [ISEDC], 2021). The investment has recently been expanded to oil/gas markets to enable the implementation of Validere Technologys emissions analytics software into oil/gas operations and support trade by fostering greener and eco-friendlier SCs (ISEDC, 2021). Concerning the proposed initiatives, the government is planning to allocate over C$100 million to three NAV Canada projects aimed at improving the national airlines SC efficiency (Transport Canada, 2022). The projects involve investing in air transport infrastructure development and implementing drone technology into traffic control in the airspace (Transport Canada, 2022). Overall, Canadas strategies are oriented toward boosting its competitive ability on a global scale.
Denmarks SC and trade improvement endeavors are focused on instrumentalizing artificial intelligence (AI) and green/sustainable trade goals. For the currently implemented initiatives, in 2019, Denmark approved an 8-year AI development strategy anticipated to facilitate the countrys cross-border trade and boost the efficiency of SCs (Lindberg et al., 2019). As of now, Danish cities are not represented among the top AI ecosystems, so any tangible progress is yet to be achieved (Lindberg et al., 2019). In its recently proposed national action plan to be achieved by 2030, Denmark seeks to emphasize several new initiatives to achieve greener SCs and foster trade by maximizing export operations sustainability (The Danish Government, 2022). These include establishing new advisory bodies to assist businesses in fostering sustainability in manufacturing products for export (The Danish Government, 2022). Other plans pertain to creating a novel sustainable development goal accelerator scheme for small-to-medium enterprises to foster greener external trade operations (The Danish Government, 2022). Therefore, the state gives pride of place to technological progress and a culture of sustainability.
Next, Chinas plans incorporate special economic zones, ubiquitous standardization, and trade facilitation for bureaucracy elimination. Chinas current national initiatives to support trade and SC efficiency include launching and running over twenty free-trade zones to boost more cost-effective trade (Poon, 2022). Additionally, China is implementing a single-window foreign trade strategy (Poon, 2022). It allows traders to submit the necessary data to one agency instead of engaging in a series of contacts with numerous poorly coordinated actors to proceed with import/export operations. The China Standards strategy to be realized by 2035 represents the proposed initiatives to inform economic development. Using this plan, China will seek to achieve SC efficiency by establishing clearer technology-related standards for its chief revenue-generating sectors, including IT, manufacturing, and the service industry (Wu, 2022). Thus, service standardization purposes and fewer barriers to trade permeate the governments vision of improving trade and SC efficiencies.
To sum up, the three countries approaches to pursuing more efficient SC and trade processes incorporate sustainability practices, removing bureaucratic barriers to international trade, and technological progress. As a trade giant, China places emphasis on making international transactions less time-consuming and requiring fewer encounters with documentation processing agencies. Canadas and Denmarks aspirations concentrate on SC greenification and technological growth, which is in line with global economic trends.
References
The Danish Government. (2022). Denmarks national reform programme 2022. Author. Web.
Innovation, Science and Economic Development Canada. (2021). Government of Canada backs innovative company aiming to lower emissions in natural gas markets through supply chain efficiencies. Web.
Lindberg, B., Andersen, J. R., Hansen, M. A. E., Frandsen, S., Alstrup, S., Krause, S., & Duvold, T. (2019). An AI nation? Harnessing the opportunity of artificial intelligence in Denmark. McKinsey & Company. Web.
Poon, C. H. (2022). Trade regulations of China. HCTDC Research. Web.
Transport Canada. (2022). Government of Canada invests in projects to improve supply chain efficiency for Canadian airlines across the country. Web.
Wu, Y. (2022,). China Standards 2035 strategy: Recent developments and implications for foreign companies. China Briefing. Web.
Order from us for quality, customized work in due time of your choice.