Brexit

Your morning coffee briefing from TFG. Korea contributes CHF 290,000 to help developing countries participate in global trade, commodity dependence increased over the last decade, supply chains crisis will leave lasting change on globalisation, food price inflation increases pressure on poorer countries and Brexit trade barriers added £600m in costs to UK importers this year.

Trade between Moscow and the EU increases by 2% year-on-year, CDC provides USD 50 million trade finance facility to bring liquidity to trade finance in Africa, FMC creates a program to review detention and demurrage practices, UKEF backs major offshore wind farms and ARRC formally recommends Term SOFR.

The virtual Summit on the New Global Sanctions Regime organised by City & Financial Global is taking place on the 12th of July of 2021.

The UK and Australia have entered into a momentous trade agreement, the first on the road to the post-Brexit economy. This deal is the first stepping stone on the UK’s journey to joining a wider Asia Pacific trade agreement.

Your morning coffee briefing from TFG. International Chamber of Commerce (ICC) warns G7 leaders they risk imposing major costs to the global economy absent of a step-change in their approach to managing the Covid-19 pandemic. UN Trade Forum 2021 to explore how to ensure a COVID-19 economic recovery that protects the planet and promotes inclusive development.

The global macro economic impact of the pandemic and how its prolonged impact on certain sectors and trade was discussed at length in a panel moderated by Jake Jacobson at the BAFT’s 2021 virtual Global Annual Meeting.

Your morning coffee briefing from TFG. G7 strikes historic agreement on taxing multinationals, WTO launches a Gender Research Hub to promote cooperation on trade and gender issues and Brexit shrank UK service exports by £110bn, highlighting the extensive consequences of Britain’s decision to break away from the EU.

Your Monday morning coffee briefing from TFG.
FCI reports a drop in global factoring statistics in 2020, linked to a drop in trade volumes due to the pandemic.

Your Monday morning coffee briefing from TFG. The world is emerging from a deep recession, and the recovery is coming faster than expected. With more than 800m vaccines administered globally, activity holding up despite lockdowns and additional fiscal stimulus coming. The IMF expects the global economy to stage a strong recovery, growing by 6.0% this year, with growth of 4.4% in 2022.

Your Monday morning coffee briefing from TFG. The IMF upgraded its growth forecasts for developed countries and said the global recession would have been three times as deep had governments not intervened.

UK Export Finance (UKEF) is launching a new guarantee scheme that will help importers of UK goods and services obtain easier access to financing up to £30 million.

Mark Abrams, Director at Trade Finance Global (TFG), has confirmed his position on the Strategic Trade Advisory Group (STAG) for the Department of International Trade (DIT) for the new term of 2020-2022.

We heard from the CBI’s Andy Burwell, on the UK’s independent trade agenda post Brexit, focusing on the EU, Japan and ASEAN.

Almost four years later, Brexit is complete. What does the new UK and the EU agreement now mean for trade, and what’s left to do?

TFG’s Deepesh Patel caught up with FCI’s Chairman, Mr. Patrick de Villepin, and FCI Vice Chairman, Mrs. Daniela Bonzanini, on the critical role of Receivables finance industry in the recovery of global trade growth during this challenging period.