Maria Fernanda Garza, Chair of the International Chamber of Commerce (ICC), recently visited Sri Lanka and was made welcome.
With the fine presentation bouquet she received, the dancers and musicians in traditional dress, Ms Fernanda Garza’s trip could have been mistaken for a royal visit. To many in Sri Lanka, this would be a fair interpretation.
With variations in state input, business is supported in different ways across the globe. ICC Sri Lanka plays a significant role in trade, investment, arbitration and more, through specialised committees that represent each major sector.
Their parent body has 170 Countries as members, almost as many as the UN. They wield significant influence on the way international commerce is conducted, from finance routes, to contracts, dispute settlement, import and export.
This includes temporary export, with ATA carnets on the ICC’s list of major activities and featuring in Ms Fernanda Garza’s trip. We regularly supply ATA carnets for Sri Lanka but they want to see more used in the other direction.
Neither are they alone, with countries across the globe equally keen to see their businesses adopt a useful way to build overseas trade.
Carnet Promotion In India
The Federation of Indian Chambers of Commerce & Industry recently hosted an ATA carnet workshop in Hyderabad, one of many they have staged in recent years.
After a slow start to their ATA carnet membership, numbers have picked up in both directions but they wish to see greater involvement. There is a firm belief that carnets are a key tool for the expansion of Indian business.
Much of the early adoption has been within the media, cinema and entertainment sectors. The Indian Chamber are encouraging greater use across other areas, particularly for overseas presentations, or attending business exhibitions.
As with Sri Lanka, ATA carnets for India are in regular use by UK businesses, who could also benefit through more being used from India.
A Core Part Of Trade
Trade is essential to all nations, as are systems which make this possible. ATA carnets do not run world trade but often play a crucial role.
Much creative activity would be harder without them, providing support on an interim basis, or showing what you have to offer. The building blocks of international trade, which lead to long term relationships.
Having an approach which so many countries were agreed upon is rare and welcome. We hope carnets continue to be explained and promoted wherever business takes place, which will see all our economies benefit.