FedEx Calls For Global Customs Reform

Speaking at the location of its newest Asia-Pacific hub, Frederick W. Smith, CEO of FedEx Corp. called on China to help ease global trade. "It's not just tariffs that deter global trade, it's Government bureaucracy too," he said addressing business leaders and government officials at Zhongshan University in Guangzhou, China earlier this month.

Though pleased with recent reforms China had made in its customs' procedures, citing the abolition of 1,800 approval requirements, he called for further reform. "Complex customs procedures; lengthy clearance times; a lack of warehouse capacity and an inadequate transportation infrastructure all conspire to inhibit commerce, large-scale foreign investment, economic stability and prosperity," said Smith.

Looking across the world stage, Smith called for simpler trade, "I hope that soon, national borders will cease to be a barrier to trade, commerce and communications."

Fedex Corp.

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