LOGISTICS MAJOR Kuehne & Nagel has signed up with bolero.net, the international trade standard. The company will initially work with Otto Versand, the worldÕs largest mail-order group, and German Customs on introducing bolero.net into shipments of clothes from Asia to Germany. According to the UN Centre for Trade Facilitation and Electronic Business (UN/CEFACT), the cost of administration involved in international trade transactions amounts to $3 trillion a year. The UN estimates that these costs could be cut by 60% ($1.8 trillion), if businesses adopted more efficient ways of processing trade transactions.
