Turkish Business Club

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  • Eduardo Resonable
    Eduardo Resonable
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    BARTER REPORT FROM UK GOVERNMENT FEATURING ORMITA COMMERCE NETWORK
    BARTER REPORT FROM UK GOVERNMENT FEATURING ORMITA
    Investigating ways to mobilise economies and allow trade during difficult economic times.

    On the 8th December the City of London, in conjunction with various U.K councils, NGOs and think tanks, commissioned a report from Y/Zen Group, the City’s prominent think tank, assessing the future scope and potential for trade, excess capacity exchange, and commerical barter to increasingly augment local and national economies.

    The report puts education about barter as a priority focus and, hopefully, this theme will be taken up with other governments worldwide.

    According to the City of London press releases:

    "Capacity exchange development presents untapped opportunity for London

    The development of an innovative, global capacity exchange hub in London could improve productivity by reducing marginal spare capacity, stimulating innovation and providing an alternative to conventional credit, according to a new report released today commissioned by the City of London Corporation, Recipco and the Economic and Social Research Council.

    Capacity Trade and Credit: Emerging Architectures for Commerce and Money highlights how businesses with spare capacity in their own goods, services or infrastructure – often the case in economic downturns – could utilise their surplus via an exchange to ‘finance’ the purchase of other goods and services that they need. Capacity exchanges have the potential to offer SMEs and larger businesses an alternative credit stream in the face of a challenging environment for conventional credit as banks rebuild bank balance sheets.

    According to some reports, 20% of global trade (over US$ 100bn) takes place in non-monetary exchanges. Capacity trading across the world has traditionally taken the form of simple bartering, which involves two parties – commonly SMEs in local or national trading networks – settling a transaction through a flow of goods or services rather than sovereign currencies - or cash. This form of exchange has traditionally been seen as less efficient than monetary trade since it requires finding a suitable counterparty at one point in time and is often contractually more complex.

    In contrast, the internet-based multilateral exchange discussed in the report could potentially lower transaction costs through market clearing. The report finds that London is uniquely placed to facilitate the expansion in scale needed for larger government and multinational organisations to utilise capacity trading more effectively. "

    DOWNLOAD FULL REPORT
    http://217.154.230.218/NR/rdonlyres/8887BA2D-4A2B-4936-A522-...

    As a large barter company with offices in 17 countries and customers in 54 countries, the role of the Ormita Commerce Network and its position in Government and Corporation barter trade has been discussed in the report.

    Staff from Ormita Germany, Ormita Italia, Ormita Sweden and Ormita International all attended the UK Government event together with Dorottya Szabo (IRTA Europe Chairperson) Matteo Carcascio from the Italian Trade Commission and some other welcome guests. Proceedings were launched by Lord Sassoon from the UK Treasury.

    Ormita engages primarily in government countertrade and manufactured goods trade but covers the entire spectrum of multilateral barter and countertrade. The company is planning to open 4 more offices in 2012 and has a barter trade volume in excess of 2.6 billion USD per annum.

    Ormitas website is http://www.ormita.com or you may email
    eduardo.resonable@ormita.com
    This post was modified on 12 Dec 2011 at 03:45 pm.
    • 12 Dec 2011, 3:43 pm