Posts Tagged ‘ICC’

The pandemic has undoubtedly had countless negative implications for the global community. However, amidst all the turmoil there have been some silver linings.

Your Monday morning coffee briefing from TFG. The OECD upgraded its forecasts for global growth this year, mainly due to the sizeable $1.9t stimulus in the US. UK exports to the EU fell by a record 40.7% in January following the end of the post-Brexit transition period.

An introduction to the International Chamber of Commerce (ICC) Sustainable Trade Finance working group

The resilience of global supply chains lies with…ANY IDEAS? Alexander Malaket explains what COVID-19 means for future access to trade finance

Your Monday morning coffee briefing from TFG. The OECD upgraded its forecasts for global growth this year, mainly due to the sizeable $1.9t stimulus in the US. UK exports to the EU fell by a record 40.7% in January following the end of the post-Brexit transition period.

GSCFF updated its Standard Definitions for the Corporate Payment Undertaking (CPU), Dynamic Discounting (DD) and Bank Payment Undertaking (BPU).

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.

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.

Having an understanding of the types of LC availability, and the differences between them, will help the beneficiary formulate the terms of the letters of credit that it would be willing to accept, and to mention such terms in their discussions and sales contracts with their clients.

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.

Your Monday morning coffee briefing from TFG.Almost half of all Covid-19 cases reported so far were from just three countries: the US, Brazil and India. Wearing masks became compulsory in UK shops and other enclosed public spaces. EU leaders agreed to create a €750bn EU recovery fund to support member states worst hit by COVID-19.

The ICC’s Survey on Trade Finance reveals the industry-wide challenges and disruption as a result of the COVID-19 pandemic push trade and trade finance into a state of global uncertainty.

In the UK Boris Johnson announced a further loosening of lockdown restrictions, reopening most remaining leisure facilities and dropping advice that public transport should be used for essential journeys only.

Only through collaboration and interoperability with other key technologies like AI, RPA, and the IoT will the path of consortia be effective in making trade finance truly digital.

TFG heard from ICC’s Secretary General John Denton and talked about actions needed from governments, private sector leaders and international institutions to ensure the continued viability of our MSMEs.