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?
The World Trade Symposium in November coincides with incredibly interesting times in global trade. Not only will the run-up to the US 2020 Presidential election be well underway, but a spotlight will be firmly trained on the impact of Brexit on the EU, should it go ahead at the end of October.