Why I’m joining business leaders calling for a new trading system

Why I’m joining business leaders calling for a new trading system?

By Christian Lanng, CEO and Cofounder, Tradeshift

Today I joined global business leaders in calling on world leaders to re-engage in trade reform and supercharge the post-pandemic global recovery.

By signing the World Economic Forum’s Trade for Tomorrow Call to Action, we are sending a clear message to governments across the world, demanding that they show greater ambition in delivering changes that will help embed greater resiliency, sustainability and inclusivity within the global trading network.

We do not underestimate the complexity and coordination required to address the many challenges we face today. But that does not mean we should close ourselves off and stop trying to answer the really big questions.

Rather than continuing to build up defences, it is time to reconfigure the rails which underpin global trade and design a more inclusive commerce model; one that encourages equal opportunity for all to participate and succeed.

World leaders have a unique role to play in facilitating global trading ecosystems that are as fair and open, as they are resilient and sustainable. But the truth is that we all have a role to play on this journey.

The way forward speaks very much to the core of what Tradeshift does, and why we exist.

Our mission is to connect every company in the world digitally, creating economic opportunity for all.

From its very inception, our founders had a clear vision, both of what is right, and what is fair. Our approach is built around three pillars which underpin our technology: 

• Connectivity and Access: Trade can only be considered free and fair if every business, regardless of its size or location has the same opportunity to engage and participate in the ecosystem.
• Finance and Liquidity: No business should be disadvantaged through a lack of access to finance or capital that would enable them to compete in an open marketplace.
• Transparency and Trust: Every business should benefit from transparency and embrace scrutiny of the standards to which they aspire. Businesses that promote ethical practices should be rewarded through increased opportunity.

It’s encouraging to see that many of the world’s largest organisations have woken up to the importance of ‘profit with purpose.’ Most business leaders want to be recognised for doing the right thing.

But doing the right thing goes much further than the immediacy of your own core business. In our hyper-connected and highly globalised world, doing the right thing means showing commitment to creating more open, accessible and sustainable supply chains.

Digitalization is transforming every process throughout this entire ecosystem and bringing about massive change for everyone, from businesses to suppliers to customers. By integrating inclusive commerce as a core principle driving this change, we can help shape how it impacts current and future stakeholders.