TFG Weekly Trade Briefing, 8th June 2020
Your Monday morning coffee briefing from TFG. As the lockdown eases the global economy is starting to come back to life. The UK started to emerge from lockdown, with people who are unable to work at home ‘actively encouraged’ to return to work. From next Monday all non-essential shops will be allowed to get back to business.
WTO report examines impact of COVID-19 pandemic on small businesses
The World Trade Organization Secretariat has published an information note looking at how micro, small and medium-sized enterprises (MSMEs) are being affected by the COVID-19 pandemic. The note describes how international trade provides MSMEs with opportunities to diversify revenue streams and better navigate the COVID-19 crisis. Read more →
Trade Credit Insurance backed by £10 bn guarantee for B2B transactions
The UK Government has agreed to support intracompany trade by providing a reinsurance agreement open to all UK insurers covering domestic and overseas trade. It is estimated that Trade Credit Insurance underwrites £350 billion of economic activity to 630,000 UK businesses each year. Read more →
The OPEC Fund and TDB sign trade and development agreement
The OPEC Fund for International Development and Trade and Development Bank – TDB step-up cooperation through a US$50m risk-sharing agreement in support of trade and development in Eastern and Southern Africa. Read more →
FCI: Confirmed growth in the global factoring volume in 2019
The growth of the factoring industry in 2019 continued its upward trend and the reported figures indicate an increase of over 5% to reach 2,917 billion euro. “This increase in global volume in 2019 follows on the heels of another successful two years in 2017 and 2018, when the industry grew by 6% and 9% respectively, showing three straight strong years of solid growth”. Read more →
Afreximbank enters partnership with ITC to prepare African businesses for trade growth
Afreximbank is teaming up with ITC to train small business owners and young entrepreneurs in Africa to trade with other African countries as part of the new African Continental Free Trade Area (AfCFTA). The training programme is being launched as the new free-trade area comes on amid the economic strain of climate change and the coronavirus pandemic. Read more →
How can banks project losses in the current Covid-19 crisis?
As banks deal with the ongoing consequences of COVID-19 on the global economy, Global Credit Data (GCD) has published its 2020 report on Loss Given Default (LGD), offering the latest numerical evidence of recoveries and losses incurred by banks from loans to large corporate borrowers. Read more →
Agrocorp receives $50M from FMO and Rabobank to enhance food supply
The COVID-19 pandemic has challenged food supply chains globally and especially in developing markets in Asia, the Middle East and Africa where lockdown measures have led to reduced food production and rising prices. The new loan by FMO and Rabobank is Agrocorp’s first borrowing base facility. Read more →
Paperless Maritime Trade – the glass half-full
Most of the articles about maritime trade today describes a very bureaucratic environment that involves large volumes of paper documents and physical signatures needed for international maritime transport of cargo. But with the current pandemic impact, it is important to plan now how to digitize all the processes that are still paper-based and implement it. Read more →
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