Your Monday morning coffee briefing from TFG. Sixty-seven countries signed a landmark WTO deal set to cut the cost of global services trade by $150 billion per year.
The 2021 ICC Trade Register summary, on the credit risk profiles of trade finance, supply chain finance and export finance transactions. Read our summary on 38m transactions representing USD $19.2t exposures, and 28% of global trade flows.
The Department for International Trade has recently published its Global Trade Outlook report. TFG summarised of the key points from the report, outlining what could be in store for global trade between now and 2050.
Open account business drives economic activity worldwide, and during times of volatility, uncertainty and of course, the pandemic, the need for solutions when it comes to receivables finance has never been more pronounced.
Your morning coffee briefing from TFG. World trade’s recovery from the COVID-19 crisis hit a record high in the first quarter of 2021, increasing by 10% year-over-year and 4% quarter-over-quarter. WTO Director General calls for action on trade finance in low to middle-income countries.
Your morning coffee briefing from TFG. Global trade expected to grow 7-9% in 2021. The global shortage of computer chips is hitting SMEs and manufacturers hard
Your Monday morning coffee briefing from TFG. A container ship ran aground, blocking the Suez Canal which carries about 12% of global maritime trade. The blockage may take some time to clear, further disrupting global shipping, already beset by high freight costs and delays caused by the pandemic.
On the 15th November, 2020 several Heads of State/ Government of the Member states of the Association of Southeast Asian Nations (ASEAN) and other nations met virtually to witness the signing of The Regional Comprehensive Economic Partnership (RCEP) agreement – solidifying over 8 years of negotiations and challenges.
Distributed Ledger Technology (DLT), colloquially termed ‘blockchain’ has been touted to disrupt trade and supply chain, as well it’s financing, for over 5 years. Following on from TFG, WTO and ICC’s ‘Periodic Table’ enlisting 39 projects in global trade utilising DLT, we’ve relaunched our table, indicating that the industry has considerably matured and evolved in less than 12 months.
The OECD predicted that globally, immigration will fall 46% this year due to COVID-19 restrictions and economic weakness.
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
The only way to make Trade Finance standardisation and harmonisation opportunity to realise is to make the needed standards coordination and development resources openly available for the business process and systems developers.
The AfCFTA is an agreement seeking to establish a free trade area in Africa. AfCFTA’s trade liberalization objective, along with other industries goals, Africa may just be set for a new horizon in its trade, post-COVID19.
ICC Banking Commission has released its 2019 Trade Register Report, revealing COVID-19’s potential to disrupt global trade.