Business Wire IndiaGCEL, INSME, BVMW and CONFAPI executed a strategic agreement at the European Union Parliament to deploy the Digital Economy Platform (DEP) through GCEL’s HumaWealth Program that digitizes the USD 140 trillion B2B marketplace. These agreements will implement the newly released G20 Nations Case Study recommendations providing the roadmap to reduce annual domestic and international trade costs by USD 3.7 trillion, increase trade by USD 7.7 trillion, create a USD 1 trillion SME fund and generate 300 million manufacturing, agricultural and service industry jobs by 2030.
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GCEL, INSME, BVMW and CONFAPI executed a strategic agreement at the European Union Parliament to deploy the Digital Economy Platform in collaboration with the world's leading technology firms to digitize the USD 140 trillion B2B marketplace (Photo: Business Wire)
The agreement was signed by Captain Samuel Salloum, GCEL Co-Chairman, Dr. Sergio Arzeni, INSME President, Mr. Patrick Meinhardt, BVMW Executive Board Member and Ms. Annalisa Guidotti, CONFAPI Director for Communication and Marketing.
GCEL’s HumaWealth Program includes “Connecting the Strengths of the World Community Creating Well-being Across Humanity”, by delivering new digital tools to increase efficiency and transparency that will de-risk trade, reduce excess trade costs, ease access to finance, and connect businesses with global markets. The program will increase the buying power of mid and low-income countries, creating new demand for high-income countries, increasing global trade and benefiting SMEs worldwide.
The DEP includes seamlessly integrated e-commerce, e-finance, e-insurance, e-logistics and e-grant tools to be deployed by the world’s leading technology firms, at no cost to the end user.
The strategic agreement signed between GCEL and INSME involves deployment of the DEP through 4 Benchmark Trade Lanes (BTL) over 18-months that will digitize trade activities in Europe, Asia, Americas and Middle-East/Africa. This agreement enables transnational cooperation through a public-private partnership to deploy innovative technologies benefiting SMEs globally.
Captain Samuel Salloum cited, “this an important step in the ‘birth of a new 21st Century Digital Economy Industry’ towards implementing the G20 Digital Economy policy directives to achieve sustainable economic growth.” He stated, “we must focus our efforts to enlarge the global economic pie by addressing the B2B marketplace needs and provide the technology industry with new revenues to meet shareholders’ expectations.”
Further, INSME and GCEL signed a strategic agreement with BVMW and CONFAPI to launch the European BTL between Italy and Germany that will create digital interconnectivity to drive greater trade efficiency offsetting growing trade protectionist policies. BVMW is Germany’s largest SME association and CONFAPI is Italy’s leading SME organization.
Dr. Sergio Arzeni commented, “these agreements are a natural step to facilitate B2B trade among SMEs and boost growth and employment.”
The BTL implements the recommendations of GCEL’s recently completed G20 Nations Case Study, a diagnostic assessment of trade efficiency based on what technology makes possible.
The Case Study was performed with 90 G20 ministries, IGOs/NGOs, academia, and private experts, collecting nearly 1.2 million data points through face-to-face interviews across 19 industries. The results yielded: 90.4% of respondents have no integrated system and 94.5% want the DEP.
The DEP deployment will be led by the World Logistics Council which has executed strategic agreements with the world’s top 26 technology firms towards selection to deliver the DEP tools and realize a new USD 400 billion market opportunity, driving a multifold increase in earnings by 2030.
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