Heavy burden is left upon UK government and private sectors as they comply with WTO rules in anti-dumping cases to impose duties on foreign exporters that are undercutting UK manufacturers.
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.
Economies around the world are now looking to reopening economies in support of generating economic activities, limited by social distancing restrictions.
Your Monday morning coffee briefing from TFG. The severe contraction of economic activity due to COVID-19 are being felt around the world. Associations are calling for state backed support for the private credit insurance market as the impact of bank lending severely impacts critical supply chains.
Industry bodies called for further government support towards supporting the global trade industry (multilaterals, banks and insurers), as the coronavirus pandemic continues to disrupt all areas of the economy.
There have been 1.7 million confirmed cases of coronavirus globally, with over 100,000 deaths. The majority of countries around the world still have strict lockdowns in place, and the virus is still spreading rapidly.
TFG’s Carter Hoffman explores the current and potential impact of COVID-19 on both international trade and trade finance. Business as unusual, the decisions we make now will have long lasting impacts.
The coronavirus focus in the last week has largely been around the provision of PPE, as well as MDBs providing continued economic support to businesses
The coronavirus focus is now on ensuring countries have free flow of medical supplies, equipment and goods, with the support of MDBs
The impact of the coronavirus crisis is being felt in all corners of the world, slowing down global trade, isolating people, communities and SMEs.
A vast easing of both fiscal and monetary policy in response to the COVID-19 impact. For the trade community, keeping the lights on and continuing to allow international trade has been critical.
Across both developed and developing countries, services trade is accounting for a growing share of GDP. The World Trade Organization recently published their 2019 report “The Future of Services Trade”, which looks at this expansion of service trade and illustrates what the future of the sector may entail.
ICC invites business leaders and government officials to join the discussion around the future of UK international engagement and the role of the private sector in shaping the global trading environment, in particular with the emerging markets, at its upcoming event – Going Global – which will take place at the Guildhall on 21st October 2019.
TFG spoke to Emmanuelle Ganne, Senior Analyst and Blockchain Lead at the World Trade Organization on the state of digitisation within trade and trade finance. With the rise of numerous DLT and non-DLT consortia, what role should multilateral bodies play, and how can we create paperless trade together? The interview was held at ExCred Commodities in London.
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.
