Business updates

APEC pilots demonstrate that GS1 standards enhance traceability and reduce costs in cross-border trade.

The primary goal of the Asia-Pacific Economic Cooperation (APEC) is to support sustainable economic growth and prosperity in the Asia-Pacific region.

As part of GS1 efforts to enable public-private collaborations, it worked with APEC on five pilot project, which proved the benefits of GS1 standards to improve the visibility and efficiency of the supply chain in cross border trade.

These pilots covered cross-border shipments of wine, beef, durian, tequila and asparagus.

APEC recently published the results of Phase 2 of this study, which found that:

•    The use of GS1 standards is relevant for all major actors across the supply chain: exporters, third party logistics providers, customs and border agencies and importers;

•    The use of GS1 standards can improve visibility, traceability, risk management, responsiveness, collaboration and innovation.

Miguel Lopera, President and Chief Executive Officer of GS1, stated: ‘’This report reveals tangible examples of how APEC’s important work to promote more efficient cross-border supply chains can be enhanced by the use of GS1 standards.  With GS1 Member Organisations present and active in 20 of the 21 APEC member economies, we are well placed to contribute to APEC’s efforts to support sustainable economic growth and prosperity in the Asia-Pacific region.’’

Read full press release here.