The official signing of the Memorandum of Understanding (MoU) has taken place this month between the International Organisation for Standardisation (IOS) and The World Bank Group. The MoU has been developed to help other counties increase their awareness and engagement within the development of international standards that enables open, fair and clear aims in terms of trade.

If you’re not already aware, the International Organisation for Standardisation is a non-governmental, independent organisation built up of 162 national standard bodies – these members bring together key expertise areas of knowledge to create a voluntary census based on relevant information to that of trade, to provide support, to guide and to create results when it comes global trade challenges. The information provided by ISO promotes superior specifications for products, systems and services to ensure the encouragement of international trade, as well as its quality and safety.

Why do the World Bank Group and ISO make for great collaborative partners?

The World Bank Group (WBG) works together with five other associates, the International Centre for Settlement of Investment Disputes (ICSID), the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), the Multilateral Investment Guarantee Agency (MIGA), and the International Finance Corporation (IFC). Working together enables the World Bank to be one of the main organisations that provides information and funding for the world’s developing countries. Being assisted by the those previously mentioned, the WBG is able to aid developing countries by providing necessary funding, knowledge and services to them, empowering these developing countries to gain prosperity, reduce poverty and build economic growth.

What’s the Memorandum of Understanding

The main intention of the Memorandum of Understanding under the partnership of the ISO and WBG, is to create an underlying foundation in the forthcoming of other countries in several areas, including knowledge generation and information sharing. Supporting research, raising awareness, improving and developing capacity, increasing monitoring and evaluation methods enables countries to engage in the opportunity to join in global trade and therefore enrol in contributing to global economic development, social progress and the protection of our environment.

ISO seem delighted with the MoU, and a statement was made by Kevin McKinley the Acting Secretary-General of ISO, concluding “We are pleased to partner with the World Bank Group in this way. This signing is an important first step in working towards shared objectives supporting sustainable economic development, as well as fair and transparent trade. Working with the Bank Group is a unique opportunity to help developing countries strengthen their national quality infrastructures to better integrate with regional and global markets. This partnership with the World Bank will also support our collective efforts to achieve the United Nations Sustainable Development Goals.”

ISO Certification – Not just for developing countries

Whilst it’s great to hear about the adoption of standards in even the most developing countries, it seems there are still businesses in the developed world that aren’t aware of the benefits of gaining ISO certification for themselves – one of which is the level of trust it can gain you from overseas markets. If you require further information on how ISO certification can help you or would like some about how your business can benefit from ISO, why not call Synergos on 01484 817 444 or contact us via email on info@synergosconsultancy.co.uk.