KYG.Trade Foundation

The KYG.Trade Foundation (in formation) provides governance, funding, training and support for product attribute specifications and standards for tax, trade and SESG attestations.

We are committed to facilitating legitimate free and frictionless trade by reducing supply chain friction and the cost of complying with complex tax, trade and emerging SESG regulations.

Our Grant Program

Our grant program provides funding to assist SMEs as well as tax & customs agencies in developing and least developed countries with implementation, training, and usage of the OriginBX OASIS standards and KYG.Trade Platform.

For customs agencies KYG.Trade will support the provisions required for implementing the WTO Trade Facilitation Agreement (TFA).

According to a 2015 WTO World Trade Report, implementation of the TFA has the potential to increase global merchandise exports by up to $1 trillion per annum. 

The report also found that developing and least developed countries will benefit significantly from the TFA, capturing more than half of the available gains.  An OECD study found that implementation of the TFA could reduce worldwide trade costs by between 12.5% and 17.5% and that the opportunities for the biggest reductions are greatest for low and lower middle income countries.  

In response to COVID-19 and trade, a report by the International Chamber of Commerce (ICC) calls on customs authorities to accept digital signatures for all purposes, including customs processes related to “debts, guarantees and certifications of origin.” With the OriginBX OASIS standards and utilization of the KYG.Trade Platform, governments can accept trusted digital certifications of origin in lieu of paper-based certificates requiring a wet signature. KYG.Trade will additionally reduce cost, fraud, and risk while increasing the transparency, trust, utilization and benefits of preferential and non-preferential trade.

For SME’s studies by the WTO and World Bank have shown that trade facilitation reforms can have an outsized impact on the ability to trade internationally. A large EU-based study of both MNEs and SMEs indicated a significant difference in preference program utilization of 77% versus 25% respectively. A survey of 2,350 SMEs and 850 MNEs by the US International Trade Commission showed that traders from both developing and developed countries have long pointed to the vast amount of red tape that still exists in moving goods across borders, and which poses a particular burden on small and medium-sized enterprises. 

In this regard, a portion of KYG Trade’s platform and marketplace revenue will be allocated to our Foundation for providing grants. Our grants are targeting SMEs and Customs agencies located in developing and lesser developed countries, for both the implementation and utilization of OriginBX OASIS standards and the KYG.Trade Platform and Marketplace.

Our Foundation will also provide education and training in complying with free trade agreements including in-country product specific rules of origin and harmonized tariff classification. Aside from trade compliance training, the Foundation plans to provide training and education in SESG, blockchain, artificial intelligence and machine learning. From these trainings we expect to stimulate high-skilled high-wage jobs for implementing and sustaining in-country KYG.Trade adoption and utilization.