TFG Weekly Trade Briefing, 29th September 2020

Your Monday morning coffee briefing from TFG. Governments across Europe face a hard balance between public health and economic activity as they combat a resurgence in COVID-19 cases. Global trade is recovering more quickly than after the 2008 global financial crisis. According to the Netherlands Bureau for Economic Policy Analysis, in July global trade had recovered to 95% of January levels, with export growth across all major global regions.

B20-Business at OECD Exclusive: Introducing the GVC Passport

The B20 and Business at OECD recently published a joint conceptual policy proposal that focuses on reducing barriers that firms in general and SMEs encounter in their quest to participate in Global Value Chains (GVCs), as cross-border fragmentation and friction continue to impede the free flow of people, capital, goods and services. Read more

Covid-19 and digitalisation – the two main pressures on tax systems worldwide, says ACCA

The challenges of digitalisation and the Covid-19 pandemic have introduced unprecedented external pressures on what governments can tax, and how much revenue they need to raise from doing so, says ACCA. Longer-term factors, such as environmental change and public attitudes towards resource exploitation are also playing a role. Read more →

ITFC signs US$5 million Murabaha Financing Facility to support SMEs in Maldives

The financing comes at a critical time as SMEs in the Maldives and other OIC member countries face the social and economic effects of the coronavirus pandemic, which has disrupted global trade and strained financial resources. Read more →

Paving the future of International trade and trade finance

Finastra helps redefine the future of finance to improve millions of lives worldwide

Through technology and collaboration, Finastra and its customers are set to positively impact over 9 million lives around the world, with key areas of focus including: SME funding gap through Trust Machine, a microfinance initiative in Kenya, equality in financial services, financial inclusion, serving customers through change. Read more →

Liam Fox makes SMEs across the globe his priority as Director-General contest continues

Peaking shortly after going through to the second round of the selection process to be the next Director-General of the World Trade Organization, he said the organization needs to work smarter. Most developing countries’ growing businesses are small and medium-sized. Globally, they make up 95% of all businesses and account for 60% of employment. Read more →

African private sector upbeat about the future but demands fairer and more transparent global trading system

A survey of 200 CEOs was commissioned by the Pan-African Private Sector Trade and Investment Committee (PAFTRAC), and conducted by African Business magazine in partnership with the African Export-Import Bank (Afreximbank). Read more →

New initiative will support small and medium-sized businesses to curb carbon emissions to increase competitiveness

The SME Climate Hub provides small and medium-sized businesses with a streamlined path to commit to climate action. A coalition of major organisations has announced the launch of a groundbreaking one-stop-shop climate action platform for small and medium-sized enterprises (SMEs) to curb carbon emissions, build business resilience and gain competitive advantage. Read more →