Jan 06, 2014

Commercial Trust admitted as Member to the International Chamber of Commerce

Commercial Trust Limited, a Hong Kong registered trust company, is pleased to announce it has become a Member of the International Chamber of Commerce.

International Chamber of Commerce (ICC), founded in 1919, is the voice of world business championing the global economy as a force for economic growth, job creation and prosperity.

As national economies are so closely interwoven, government decisions have far stronger international repercussions than in the past. ICC - the world's only truly global business organization responds by being more assertive in expressing business views. It promotes an open international trade and investment system and the market economy. Today, it groups thousands of member companies, chambers of commerce and business associations across the world.

Business leaders and experts from its membership establish the business stance on broad issues of trade and investment as well as on vital technical and sectorial subjects. ICC has unrivalled expertise in defining practices that govern the conduct of business across borders and have become part of the fabric of international trade. ICC activities also cover a broad spectrum, from arbitration and dispute resolution to making the case for open trade and the market economy system, business self-regulation, fighting corruption or combating commercial crime.

ICC has direct access to national governments all over the world through its national committees. The organization's Paris-based international secretariat feeds business views into intergovernmental organizations on issues that directly affect business operation.

The International Chamber of Commerce - Hong Kong, China (ICC-HK) was inaugurated in December 1998 as the Hong Kong representative body of the International Chamber of Commerce (ICC). It seeks to project Hong Kong's business interests in the international community and to mobilize Hong Kong's business experience to contribute to the key activities of ICC. The Chamber or ICC-HK further aims to share Hong Kong's experience with businesses elsewhere particularly in areas of policy issues, international standards and business practices. It participates in ICC's endeavors in setting business standards and in promoting interflow of business around the world.

The membership of the International Chamber of Commerce - Hong Kong, China consists of leading companies, chambers of commerce and business associations in Hong Kong. It is the only business body in Hong Kong with this unique international affiliation.

Since its inauguration, the Chamber has consistently been involved in ICC's policy work. As part of a highly respected international private sector forum, the Chamber assists in furthering ICC's global aims and objectives and shaping its policies. Many members give their service to the policy commissions, committees and groups at the heart of ICC's work. The Chamber correspondingly sets up a number of subject committees to put forward Hong Kong's views to ICC in policy and practice settings. The areas of interest include banking and financial services, arbitration, e-commerce, trade and investment, environment, competition and intellectual property.

Apart from formulating policy and practice codes and standards, the Chamber provides electronic processing services of (a) Trade Declarations, (b) Dutiable Commodities Permits, and (c) China Interactive Customs Declaration Service Platform - Manifest Input, (d) Electronic Cargo Manifest, (e) Road Cargo System (ROCARS) and (f) Endorsement of Trade Documents, and Certificates of Origin to facilitate businesses in their trade documentation work and to comply with Hong Kong government's import and export requirements.

Commercial Trust is a registered trust company in Hong Kong and Switzerland. CmlTrust provides custody and transactional support through HSBC Global in Hong Kong, and is a clearing correspondent of ABN Amro Bank, Amsterdam.