For instance, the take off in e-commerce in China has given rise to even stricter requirements for supply chains. Efficient logistics can fully unlock the nation's consumption potential.

To reduce barriers to trade, the global business community needs to be innovative and follow best practices, which can be coordinated among small and medium-sized businesses and large multinationals through industries, said Scott Davis, chairman and chief executive officer of United Parcel Service Inc.

"In tandem, governments need to prioritize investments and ensure collaboration across countries, benefiting consumers through lower costs and more efficient global supply chains," Davis said.

One best practice in the United States, according to Mattios, is the creation of "centers of excellence" for respective industries by the US customs agency.

Each region has developed an industry-specific strength in handling customs issues, making the process more efficient, given the variety of regulations for different industries.

Chinese businesses have long been hampered by discriminatory non-tariff trade barriers, in the form of anti-dumping and anti-subsidy investigations.

Other barriers include import quotas, strict certification rules and high technical standards.

Acknowledging that countries sometimes apply non-tariff barriers for a variety of purposes, Mattios urged clear regulations and better coordination among governments and agencies to cope with the problem.