Shifting operations: Tradeshift expands into Australia and New Zealand
Tradeshift, the leading business commerce platform announced today that it will be expanding its operations to Sydney and New Zealand, to deliver trade and financial capabilities for multi-national companies.
“As a global company that connects businesses in more than 190 countries, setting up a presence in Australia was the next logical step in our international strategy,” said Christian Lanng, CEO and co-founder of Tradeshift.
“Our marketplace includes thousands of suppliers based in Australia and New Zealand. Both countries are growing economically and are key to how we will support the global supply chain going forward.”
There is an increase in public investment and growth across many industries, including construction. On top of this strong economic foundation, progressive regulations, such as the new national standard for e-invoicing based on the ISO-approved OASIS Universal Business Language (UBL), can help companies and entire industries join Europe and other regions on the path to digital transformation across the supply chain.
“Tradeshift’s vision for connecting businesses digitally across the globe will help many Australian and New Zealand businesses to expand and strengthen their supply chains,” said Nigel Wardropper, CEO of Procurement and Supply Australasia (PASA).
"We may be isolated geographically, but we’re hyperconnected to world markets, and just like everyone else we're seeing our entire industries transformed by digitalisation.”
Since Tradeshift’s founding in 2010, it has proven superior in its ability to integrate tax and trade compliance requirements of the localized economies it has entered, including those in Latin America and Asia.
Building on the successful expansion into Japan and China, Tradeshift is setting up operations in Australia to stay ahead of the demand for its solutions and continued global-scale adoption of its platform.
Adoption is accelerating, in part, due to the network effects that result from wave after wave of tens of thousands of invited suppliers connecting to buyers across geographies. Once on the platform and carrying out transactions, businesses harness the simplicity of open, networked software and quickly find and connect with other trading partners. This original approach creates a common foundation for business processes like e-invoicing, eProcurement, and supply chain financing.
Other corners of Asia-Pacific are also on the company’s horizon. Speaking recently at the India Economic Summit of the World Economic Forum in New Delhi, Christian Lanng said that Tradeshift will be investing more in the region to help more buyers and suppliers digitize their supply chain information.
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EU and US agree end to Airbus-Boeing supply chain tariffs
The EU and US have agreed to resolve a 17-year dispute over aircraft subsidies, suspending tariffs on billions of dollars' worth of goods that have plagued procurement leaders on both sides of the Atlantic.
Under an agreement reached by European Commission Executive Vice-President Valdis Dombrovskis and US Trade Representative Katherine Tai on Tuesday, the tariffs will be halted for a period of at least five years.
It will bring an end to punitive and disruptive levies on supply chains that have little to do with the argument, which became embroiled in the trade battle. Businesses on both sides of the dispute have been hit with more than $3.3bn in duties since they were first imposed by the US in October 2019, according the EC.
The US imposed charges on goods upto $7.5bn in response to a World Trade Organisation ruling that judged the EU’s support of Airbus, its biggest aircraft manufacturer, unlawful. A year later in November 2020, the EU hit back. The WTO found the US had violated trade rules in its favourable treatment of Boeing, and was hit with EU duties worth $4bn.
In all the tariffs affected $11.5bn worth of goods, including French cheese, Scotch whisky, aircraft and machinery in Europe, and sugarcane products, handbags and tobacco in America. Procurement leaders on both sides of the fence were forced to wrestle with tariffs of 15% on aircraft and components, and 25% on non-aircraft related products.
Boeing-Airbus dispute by the numbers
- The dispute began in 2004
- Tariffs suspended for 5 years
- $11.5bn worth of goods affected by tariffs
- $3.3bn in duties paid by businesses to date
- 15% levy on aircraft and 25% on non-aircraft goods suspended
Both sides welcome end to tariffs
European Commission President Ursula von der Leyen branded the truce a “major step” in ending what is the longest running dispute in WTO history. It began in 2004.
“I am happy to see that after intensive work between the European Commission and the US administration, our transatlantic partnership is on its way to reaching cruising speed. This shows the new spirit of cooperation between the EU and the US and that we can solve the other issues to our mutual benefit,” she added.
Both aircraft manufacturers have welcomed the news. Airbus said in a statement that it will hopefully bring to an end the “lose-lose tariffs” that are affecting industries already facing “many challenges”. Boeing added that it will “fully support the U.S. Government’s efforts to ensure that the principles in this understanding are respected”.
The US aerospace firm added: "The understanding reached today commits the EU to addressing launch aid, and leaves in place the necessary rules to ensure that the EU and United States live up to that commitment, without requiring further WTO action."
This week’s decision expands upon a short-term tariff truce announced in March this year. The EC says it will work closely with the US to try and further resolve the dispute, establishing a Working Group on Large Civil Aircraft led by each side’s trade minister.
Airbus last month signalled to suppliers that post-pandemic recovery was on the horizon, telling them to scale up to meet a return to pre-COVID manufacturing levels. “The aviation sector is beginning to recover from the COVID-19 crisis,” said Airbus chief executive Guillaume Faury, adding that suppliers should prepare for a period of intensive production “when market conditions call for it.”