TFG spoke to Stephen Renna, Chief Banking Officer at US Exim Bank at TXF CPRI in London, about the core priorities and focus for the bank in order to facilitate US exports, now that is has a wider remit to promote US SMEs.
Trade Finance Global caught up with Senior Economist, Ana Boata at Euler Hermes last month at The Institute of Export & International Trade’s World Trade Summit. A very interesting macroeconomic view on how households, retail and economic growth has changed in 2019 due to trade wars, Brexit and business uncertainty.
We spoke to the Finastra’s CEO Simon Paris about the future of trade and challenges of capitalism, during the World Trade Symposium at New York. We discussed key themes around bilateralism and multilateralism in global trade and why we need to turn our eyes to plurilateralism. A typical SME trade finance transaction is $25,000, but the average cost to trade finance instruments is $4,000 and this is not particularly helpful in addressing the trade finance gap. Is the technology the remedy here?
We spoke to Anabel Gonzalez during the World Trade Symposium in New York. We discussed whether the current US-China trade war had a positive impact on Latin American trade flows. Geopolitical uncertainty continues to threaten foreign investment and economic growth, particularly in emerging markets. Policymakers around the world are fretting about trade uncertainty and its impact on access to business finance, meanwhile, innovation and competition remain critical for economic growth.
New York, World Trade Symposium. With the world trade order under threat from protectionist movements, tit-for-tat tariffs, and a shift away from free and open trade, TFG’s Editor Deepesh Patel caught up with ICC’s Secretary General and Member of the World Trade Board, John Denton at Finastra’s World Trade Symposium.
We spoke to Ronan Quigley from the British Chambers of Commerce during the World Trade Summit on 23rd October at The Law Society in London. The event took place amid growing speculation about the prospects of a winter General Election, following the Government’s defeat to its proposed timetable for the passing through of its EU Withdrawal Agreement Bill. Ronan gave us an overview of the support landscape for UK businesses, post-Brexit and discussed the new version of the Incoterms.
With the UK and EU yet to reach an agreement on their future trading relationship, it is vital goods vehicle operators are as prepared as possible for a No Deal Brexit. In this scenario, new border procedures and haulier responsibilities will come into effect immediately. Hauliers must ensure they fully understand the new road haulage procedures, documentation requirements and responsibilities that will arise; otherwise, they risk their operations coming to a standstill.
Brexit’s greatest roadblock currently takes the form of a 310-mile border spanning the Irish countryside. How come?
TFG heard from Alexander Goulandris the co-CEO of essDOCS about the different solutions for paperless trade. He exclusively announced the launch of a new product called CargoDocs Match, which will enable trade finance banks to continue to provide BPO-related solutions to their customers after SWIFT discontinues support for the Trade Services Utility (TSU) in 2020.
Access to affordable trade finance is a condition of success in international trade, to the same extent as rapid clearance of customs and efficient transportation. For decades, successful companies in developed countries have benefitted from the existence of mature financial industries distributing high volumes of finance and guarantees at low rates. Trade finance is normally a high volume and low-cost source of finance, because the risk of default is small, with a global average of 0.2%, and little difference across countries.
Today TFG record live from the ITFA Annual Meeting in Budapest. The conference covered developments within areas of supply chain finance, credit risk insurance and ever more creative risk distribution techniques, as well as the rise of fintech within the trade and open account environment.
Today we’re reminding our listeners that incoterms rules are changing at the start of 2020. With the updates and specific changes to be announced very shortly by the International Chamber of Commerce. We are delighted to be joined by a world-renowned exporting expert, Mr Robert Ronai.
The nature of Xi Jinping’s political hegemony has altered China’s conduct and outlook of international trade; based on China’s economic past, what could this spell for the future?
The financial crisis of 2007/2008 triggered many after-shocks. One was the knock to global trade. We heard from David Morris, Relationship Director at The London Institute of Banking & Finance for his views.
The value of global trade today is around $40 trillion. Approximately 10% of this amount is commodity trade. Therefore being able to predict what is likely for the future of the trade industry to hold is essential for business growth and preparation. Some of the most influential factors on global trade today are