A Digital Area of Growth: How Labelling is Changing the Business Climate
It is hard to imagine that, just five years ago, Russia essentially did not have a single system for monitoring trade flows for every manufactured unit at each stage of its progress from manufacturing to sales. A digital goods labelling system using Russian technologies has now been launched and is working in Russia, EAEU countries and the Republic of Uzbekistan. The system provides information on the state of different sectors: the dynamics of manufacturing and imports, the volumes of real time stocked products and sales, prices and markups along the entire goods progress chain. This system allows the state to prevent shortages and control imports, preclude scalping, reduce illegal turnover and ensure that excise duties and mandatory fees are paid in full. Businesses can now optimize their processes using Big Data, increase sales by eliminating illegal actors and boosting transparency in their collaboration with business partners. How could the labelling system help domestic manufacturers develop? What effect could be achieved by transitioning to digital excise duties? What risk-orientated approach instruments are used with the labelling system services? What cases implemented in Russia could be rolled out to the EAEU states and the Republic of Uzbekistan? How could labelling help amid parallel imports? What information from the system could tap into the full potential of the project and improve business efficiency?
