At the forum, Trade Finance Global (TFG) spoke with Pamela Coke-Hamilton, the Executive Director of the International Trade Centre (ITC), to explore the impact of crises, capacity building, and support for women-led businesses and youth in trade.
In a bid to enhance access to trade for micro, small, and medium-sized businesses (MSMEs), the World Trade Board has recently launched the ‘Financial Inclusion in Trade Roadmap’. The roadmap, developed through collaboration with major industry bodies and international stakeholders, seeks to address the challenges faced by MSMEs to accelerate their participation in global trade.
With the disruption of the global value chains stemming from COVID-19 and the war in Ukraine, Central and Eastern European (CEE) trades are finding themselves in a new business reality. While trade with East Asia is a well-established import region, new primary export destinations are emerging for exporters in Central and Eastern Europe (CEE). With the Russian full-scale invasion of Ukraine, the main export markets outside the EU for the CEE companies, Russia, Ukraine and Belarus, were closed or significantly constrained.
The potential impact of the UK’s incoming Electronic Trade Documents Bill goes far beyond a boost to the country’s trade prospects. By enshrining in law that a digital document is equivalent to physical paper, the reform means that counterparties can issue and process documents electronically by default, – and with UK law acting as the basis for trade transactions across much of the world, the opportunity for transformation is unprecedented.
At ICC Austria’s Trade Finance Week, Trade Finance Global spoke with Isaac Mahanke, group head for traditional trade products at Standard Bank, to shed light on the prevalence and advantages of demand guarantees in Africa.
In this article, EBRD’s Ralph De Haas and Rudolf Putz talks about ways to improve regulatory compliance for trade finance and correspondent banking.
Though international trade is a complicated industry, there is one truth that is simple: the world runs on finance. There is a mind-boggling amount of capital floating around the globe. However, access to this financing has proven difficult for many companies and countries.
As an observer at the World Export Development Forum (WEDF) 2023, where Trade Finance Global (TFG) was a media partner, TFG had the opportunity to discuss these challenges and prospects with local and international delegates.
Like every aspect of the financial services industry, the correspondent banking world has changed a great deal over recent years due to technology, regulatory regimes, and risk management.
Central Asia is becoming increasingly attractive to investors. It has abundant natural resources and is strategically located, leading to its reputation as a region with untapped economic potential.
Following the EBRD 2023 Annual Meeting and Business Forum in Samarkand, Uzbekistan, TFG’s Brian Canup (BC) spoke with Nino Masurashvili (NM), Deputy CEO, Chief Risk Officer, TBC Bank Georgia, who was recognised with the EBRD Sustainability Silver Award. Read this two-part interview to learn more about TBC Bank Georgia, why they were awarded the EBRD Sustainability Silver Award, and their plan for continuing to support Georgian sustainability.
VIDEO | Illuminating international trade: The role of FATF and AML/KYC in combating financial crimes
In the shadows of the interconnected world of international trade lies a pervasive threat that silently endangers the security of global markets. Financial crimes, with their detrimental effects on stability and integrity, cast a dark cloud over the world economy, threatening the trust upon which international trade relies. From money laundering to terrorist financing, illicit activities can have far-reaching consequences.
In trade finance compliance, getting the details right matters. Regulators around the world, the financial institutions involved and, of course, bank clients, have a keen interest in ensuring that trade transactions do what they are designed to do: ensure timely payment and prevent fraud, all in line with constantly changing international regulations. As that suggests, there is always the potential for a mistake to cost the bank a great deal of money and put a major dent in its reputation. That threat, in turn, can put a lot of pressure on staff.
Following the EBRD 2023 Annual Meeting and Business Forum in Samarkand, Uzbekistan, TFG’s Brian Canup (BC) spoke with Nino Masurashvili (NM), Deputy CEO, Chief Risk Officer, TBC Bank Georgia, who was recognised with the EBRD Sustainability Silver Award. Read this two-part interview to learn more about TBC Bank Georgia, why they were awarded the EBRD Sustainability Silver Award, and their plan for continuing to support Georgian sustainability.