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.
President Trump entered office in November 8th, 2016. Throughout his campaign, he held a very strong and very vocal position on the trading relationships that the US held with the rest of the world – that it was not good.
TFG heard from the ICC United Kingdom at their annual conference, Bridging the Trade Finance Gap, delivering paperless trade, discussing the changing market and the role of banks in the… read more →
The WTO (World Trade Organisation) has 164 state members, with 20 in the waiting line. Located in Geneva, the WTO is set out to resolve trade disputes and trade policies,… read more →
Globalisation is often talked about in general terms, treating it as one constant process. However, it is important to recognise that it has actually occurred in three distinct waves. Whilst… read more →