A new ICC report, released yesterday, estimates that if G7 countries can deliver on legal reform, standardisation, and adoption of digital records, then trade between them could rise by about 43% above its 2019 value by 2026.
World trade is central to economic growth and as we emerge from the pandemic, trade is paramount in enabling the global economy to recover. Is the time really now, for digitising trade, and how can advance the dialogue to reduce friction, costs and risk?
Digitalisation has become a global priority, however, efforts to digitalise trade have been hindered by legislative gaps.
The need for trade digitization has never been more prevalent than it is today, especially with pandemic-induced restrictions emphasizing the inefficiency of paper-based trade. Our Editor, Deepesh Patel sat down with Contour’s CEO and Chief Product Officer, as well as TradeLens’ Head of Strategy and Operations, to discuss how fintech can come together to partner to solve these problems.
Has digital trade finally arrived with the ICC eRules guidelines? John Dunlop explains how this might be true.
In this episode of Trade Finance Talks, we discussed the realities of implementing the United Nations Model Law on Electronic Transferable Records into local markets – an incredibly important advancement in accepting electronic signatures.
A session by Loh Sin Yong from Infocomm Media Development Authority (IMDA) at TXF’s Global Trade Virtual 2021, explored one potential solution to the now highly paper-reliant trade.
By integrating the DLPC structure into trace:original documents, the benefits of a payment undertaking supported by BAFT’s best practices can be enjoyed while avoiding the potential drawbacks of a closed consortium.
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.
With electronic document rules in place, it is now the role of key players and regulators to go ahead and enable trade finance to take advantage of digital innovation.
Many new fintechs are fielding trade transaction cloud platforms that combine video technology with non-bank trade finance that is going to fill the vacuum created by the banking industry.
With competitive digital economy, Colombia will be able to plan for post-pandemic recovery and strengthen regional economies to adopt smart solutions linked to the Internet of Things that allow them to compete in global value chains.
As advocates of DLT in global trade and commerce, TFG are partnering with 101 Blockchains to promote the education of specific technologies that are currently available.
How do fintechs work with banks, and how can we rethink the customer journey for trade finance? TFG spoke to industry experts, in partnership with Finastra.
TFG heard from Joel Schrevens Global Solutions Director of China Systems about the state of the trade and supply chain finance ecosystem. Established in 1983, China Systems is a leading trade services solutions vendor. The company is fully focused on providing an integrated front-end and back-office platform catering for internal and external deployment at a domestic, regional or global level.