A commentary and foreword by ICC’s Secretary General John W.H. Denton AO and WTO’s Deputy Director-General Xiaozhun Yi, following the launch of WTO and TFG’s 2020 Blockchain for Trade publication.
This is not the time to be imposing trade sanctions, it is the time to be lifting trade restrictions and easing tariffs on essential goods. – Simon Paris
In response to ADB’s recent USD $200mn to boost trade finance in response to the impact of COVID-19, TFG caught up with Manilla based Steven Beck on TFT. The requirements for multinationals and development banks has never been more important in keeping supply chains running.
We caught up with the Head of Trade Finance at Asian Development Bank, Steve Beck. We talked about the newly published Trade Finance Gaps, Growth, and Jobs Survey.
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.
The Asian Development Bank (ADB) has released the results of the 2019 rendition of their annual Trade Finance Gaps, Growth, and Jobs Survey. ADB’s vast network of respondents includes 112 banks from 47 countries, 53 export credit agencies from 17 countries, 39 forfaiters from 20 countries, and 336 other firms from 68 different countries around the globe.
ADB’s Steven Beck explores the challenges, risks, and implications of fighting financial crime and how such precautions are impacting market gaps.
ADB’s Trade Finance Program (TFP) has announced that Can Sutken will join the team as Relationship Manager for Vietnam, Indonesia and the Pacific. Can has a wealth of experience in… read more →
The International Chamber of Commerce’s 10th annual Global Survey – this year entitled Global Trade: Securing Future Growth – reveals that counter-terrorism and other international regulations are significantly inhibiting the… read more →
Trade finance is advancing hugely in Asia, and we were excited to speak to Steve Beck, the head of the Trade Finance Program at Asian Development Bank (ADB), on the… read more →