TFG Weekly Trade Briefing, 30th November 2020
Your Monday morning coffee briefing from TFG. Global trade volumes slowed, rising by 2.1% in September to a level roughly 4% below that of the same month in 2019. UK chancellor Rishi Sunak warned that the “economic emergency has only just begun” and that the public finances were “unsustainable” as he announced a temporary freeze on most public sector pay and a cut to overseas aid spending. England will re-enter a tiered system of restrictions once the current national lockdown ends on Wednesday.
UK secures vital rollover trade deal with Canada and agrees to start negotiating more advanced deal next year
The UK and Canada have locked in their existing trading relationship, worth £20 billion, and agreed to begin negotiating a new more ambitious trade deal as early as next year. The agreement paves the way for negotiations to begin in 2021 on a new tailor-made UK-Canada trade deal, with the potential to go further in areas like digital trade, the environment and women’s economic empowerment. Read more →
UKEF signs new export partnership with the UAE
UKEF signs a new export partnership with the UAE, to increase the £17.8 billion worth of total trade between the UK and the UAE. The agreement provides a general framework for reinsurance underwriting between UKEF and ECI that will enable the two agencies to combine their financial support to help businesses secure export contracts anywhere in the world. Read more →
Supply Chain 4.0 – What is next for digital solutions in Agritech?
With around 45% of crops produced going to waste, and 690 million people estimated to have been undernourished last year, agri-value chains face enormous challenges to improve efficiency, promote financial inclusion and adapt to the current digital environment. The 2nd in a series of special webinars from IsDB and ITFC explored how 4IR solutions can transform supply chains and boost the flow of agricultural trade across borders. Read more →
The Regional Comprehensive Economic Partnership (R.C.E.P): A return to multilateralism
Several Heads of State/Government of the Member states of the Association of Southeast Asian Nations (ASEAN) and other nations met virtually to witness the signing of The Regional Comprehensive Economic Partnership (RCEP) agreement – solidifying over 8 years of negotiations and challenges. Read more →
Business leaders draw-up fresh proposal to help forgotten companies
A coalition of small business leaders, tax experts and company directors have mapped out the measures needed to address a government shortcoming which has left thousands with no income support throughout months of Covid-linked disruption. Those classified as self-employed have been able to claim grants if they’ve been impacted by restrictions since Spring, and can continue to do so until April 2021. Read more →
Citi Launches Green Deposits, a New Sustainable Investment Solution
Citi Treasury and Trade Solutions announces the launch of a green time deposit product with enhanced yield. The new fixed-term green deposit gives our clients the ability to invest their short-term liquidity in environmentally friendly projects. Read more →
UKEF expands its international network
UKEF has expanded its overseas network to boost the businesses pipeline and generate billions in export opportunities for UK exporters. UKEF has hired international representatives in China (Jiang Wu), South Africa (Dirk van den Berg), Colombia (Camilo Neira), and Kenya (Isaac Kahara, CTP). Read more →