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WSTA Webinar: Reducing Friction in International Trade

»Date: 12th November 2021, 11:00 am - 1:00 pm

»Venue: Microsoft Teams

»Led by: David Richardson

»Open to: WSTA Members

»Who should attend: WSTA Members


David has been working with HMRC, academia and the technology sector on a programme called “Reducing Friction in International Trade” (RFIT).  Some members have already taken part in an industry group and elements of the programme formed part of our last Industry Summit.  The essence of the programme is using Distributed Ledger Technology (DLT or blockchain) to generate a database of information that businesses and customs officials can use to facilitate and track the movement of goods more efficiently than current paper or electronic systems.  A successful proof of concept has been achieved for moving wine from Australia to the UK.

 

This work is supported by Lord Holmes of Richmond, who has been a strong advocate for the sector in Parliament. We hope that he will be able to join us for these sessions.

 

Session 1: 11am, 12 November – Progress with the RFIT Programme 

The first session will be an update on the progress of the programme, why it will benefit business and how it supports the Government’s Borders 2025 ambition to be the best electronic border in the world. Key outcomes will be

  • for the sector to have a wider understanding of RFIT and
  • to demonstrate to officials and ministers that this is something the sector needs and supports.

This session will be aimed at business owners and senior managers.

 

Session 2: 12pm, 12 November – RFIT & combatting fraud 

The second session will look at how RFIT helps in combatting fraud. Up to now RFIT has focused on trying to make life easier for wine traders who just want to do the right thing, but HMRC are also making progress on the parallel task of making the lives more difficult for those who don’t. HMRC would welcome input from you so that they can focus on meeting businesses’ requirements as much of those on the regulatory side. This covers both physical and financial fraud. The session would also involve colleagues from the Food Standards Agency and Wine Standards.

 

This session is aimed business owners and managers with an interest in anti-fraud measures.

You will be able to access the full recording and slides using the following link. The link is password protected – the password can be found in the post-webinar email follow-up.

 

Reducing Friction in International Trade

 

If you haven’t received a password, please contact Samantha Creer, samantha@wsta.co.uk

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