Benefits of International standards

International Standards bring technological, economic and social benefits. They help to harmonize technical specifications of products and services making industry more efficient and breaking down barriers to international trade. Conformity to International Standards helps to reassure consumers that products are safe, efficient and good for the environment.

International Standards are strategic tools and guidelines to help companies to tackle some of the most demanding challenges of modern business. They ensure that business operations are as efficient as possible, increase productivity and help companies to access new markets.

Benefits include:

· Cost savings – International Standards help to optimise operations and therefore to improve the bottom line.

· Enhanced customer satisfaction – International Standards help to improve quality, to enhance customer satisfaction and to increase sales.

· Access to new markets – International Standards help to prevent trade barriers and to open up global markets.

· Increased market share – International Standards help to increase productivity and competitive advantage.

· Environmental benefits – International Standards help to reduce negative impacts on the environment.

Benefits in figures:

· GBP 2.5 billion – annual contribution standards make to the UK economy.

· 80% – percentage of world trade impacted by International Standards.

· AUD 100 million – benefits to Australian economy from sampling standards in the mining industry.

· 84% reduction in transportation time due to standardization of container transport.