TFG Weekly Trade Briefing, 14th September 2020

Your Monday morning coffee briefing from TFG. COVID-19 case rates are rising while fatalities remain relatively low across much of Europe. The UK saw its first significant tightening of restrictions in months with socialising limited to groups of six in England. India now has the second highest number of cases in the world, overtaking Brazil.

Government announces new Board of Trade

The DIT has announced its new advisers to the Board of Trade, comprising of senior figures from business, academia and government. The Board will engage with industry, communities, farmers and consumer groups across the UK, to ensure a range of voices are heard as the UK develops its independent trade policy. Read more →

ICC announces Oswald Kuyler as the DSI’s Managing Director

The ICC Digital Standards Initiative (DSI) will work towards the ambitious aim of establishing a globally harmonised, digitised trade environment – directly addressing disruptions experienced during the COVID-19 crisis as a result of the reliance of trade flows on paper documentation. Read more →

SMPs continue to be a lifeline for SMEs in a post-Covid world

In its most recent report, Responsible SMP Pacesetters, which surveys almost 50 global SMP leaders, ACCA (the Association of Chartered Certified Accountants) shows the importance of SMPs and why they act as a safety net for businesses trying to rebuild and steer their way through the Covid-19 pandemic. Read more →

BofA Interview: Bye for now, China? The $1 trillion tectonic shift in global supply chains

Covid-19 has certainly exposed the fragility of far-flung supply chains. What then will the future of global supply chains look like post-Covid? TFG heard from BofA on the possibility of SCF’s structural shift to localisation. Read more →

ITFC and Mizuho Bank Malaysia Sign US$100M trade financing deal

ITFC signed a US$100 million Murabaha-structured line of trade finance with Mizuho Bank in Malaysia. This financing will help ITFC extend its support to the member countries under its COVID-19 Response Plan that is targeted towards supporting both in public and private sectors. Read more →

UK takes major step towards membership of Trans-Pacific free trade area

The UK has taken a major step in the process of joining CPTPP (Comprehensive and Progressive Agreement for Trans-Pacific Partnership), one of the world’s largest and most dynamic free trade areas. Read more →

UK strikes trade deal with Japan

The UK has struck its first big post-Brexit trade deal after reaching a historic agreement with Japan that is expected to increase trade by £15bn a year. The deal was reached after a compromise on agriculture under which the UK will have access to export quotas for cheese and other products that haven’t been used by the EU, said negotiators. Read more →