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Trade Finance Talks
24 minutes | 16 days ago
The LIBOR transition and trade finance
By the end of 2021, it’s anticipated that these rates will be discontinued, transitioning to the Sterling Overnight Index Average, or SONIA for short, and, for US Dollar benchmarks, the Secured Overnight Financing Rate, SOFR). But what does this mean for trade finance, trade finance documents such as Master Participation Agreements, products, and what are the current recommendations? Full transcript here: https://www.tradefinanceglobal.com/posts/podcast-s1-e61-libor-transition-trade-finance/
59 minutes | 22 days ago
Sustainable Trade Finance
Trade finance has a significant role to play in sustainable development and ESG, which extends to addressing global challenges around climate change, human rights and biodiversity. The banking industry is certainly making progress towards their sustainability mandates, which is no longer a ‘nice to have’, rather, a business imperative. But if we are to jointly work towards the Paris Agreement and the UN Sustainable Development Goals, raising truly understanding the benefits of sustainable trade assets, understanding the appetite from the investment community, and sharing best in class practices that are being applied locally and globally is critical.
22 minutes | a month ago
Enigio - Bring back paper documents! Is the document the missing part of digital trade puzzl
Digitalization often takes over conversations when it comes to making trade more efficient. It’s well documented that trade is an incredibly paper-heavy, inefficient, unsustainable business right now, but the insurmountable task of ‘digitizing trade’ is rather complex. Full transcript here:
17 minutes | a month ago
Barclays - Can green bonds and indemnities reduce environmental impact?
ESG. Environmental, Social and Governance. Three words we hear more and more. But what does it actually mean? Both corporates and consumers are focusing on environmental and sustainability practices when making financial decisions. Consumers are demanding ethically and sustainably sourced products, and it’s leading to questions around the transparency of global value chains. As businesses look towards ESG factors in their trade finance decisions, we’re here today discussing whether financial instruments in trade can address these concerns. Full transcript here: https://www.tradefinanceglobal.com/posts/podcast-barclays-s1-e58-can-green-bonds-and-indemnities-reduce-environmental-impact/
25 minutes | 2 months ago
Standby Letters of Credit (SBLCs) and their role in International Trade
We take a dive into the world of Letters of Credit (LCs) - non-structured, unfunded trade finance products - some of the essential tools in cross-border trade transactions. An LC is a payment undertaking that a financial institution issues on behalf of a buyer. There are many different types, and in this podcast, TFG gets an overview on Commercial Letters of Credit and Standby Letters of Credit (SBLCs). Full podcast and transcript here: https://www.tradefinanceglobal.com/posts/podcast-s1-e57-baft-standby-letters-of-credit-sblc/
18 minutes | 4 months ago
Voice of the CBI: What is the UK’s Independent Trade Agenda?
In this podcast, as part of our UK trade series, we focus on 3 themes: what trade relationships in a post-Brexit world actually means for business, the role of trade when it comes to post-pandemic economic recovery, and the importance of international cooperation and multilateralism when it comes to boosting global trade. On the 1st January 2021, the UK-EU Trade and Cooperation Agreement (TCA) came into effect, but there are many loose ends, and the transition is not yet complete. We discuss this, as well as the UK's independent trade agenda with Andy Burwell, Director for International Trade and Investment at the CBI. Read the transcript here: https://www.tradefinanceglobal.com/posts/voice-of-the-cbi-what-is-the-uks-independent-trade-agenda/
21 minutes | 4 months ago
CEPA or CPTPP? An Overview of UK-Japan Trade
Japan is the third-largest economy in the world, and one of the most open economies with 4% of global GDP. Once perceived a difficult market to enter, it has, over the past 30 years, grown to be a global powerhouse, from automotives and agriculture, to digital trade and innovation. Today’s podcast focuses on the Free Trade Agreement, FTA with Japan, more specifically referred to as the Comprehensive Economic Partnership Agreement, Or CEPA. The UK and Japan are major investors in each other’s economies, ranking fifth and sixth respectively for inward foreign direct investment. Full transcript here: https://www.tradefinanceglobal.com/posts/cepa-or-cptpp-an-overview-of-uk-japan-trade/
40 minutes | 6 months ago
Multilateral Perspective - A Roadmap for Sustainable Trade Finance
TFG heard from ICC Banking Commission experts who are taking a step beyond the hype of sustainable trade finance, and looking at the role of multilateral development banks (MDBs) and development finance institutions (DFIs) on what sustainable trade finance means and what the industry must do. There’s no doubt that Covid-19 has also changed appetite here. Companies are under pressure to see what’s happening right across their supply chains, and tracing any items in them – from field to factory to customer (and beyond). Integrating any tools that can support resilient supply chains can also underpin sustainability efforts. Access the resources and more information about the initiatives discussed in this podcast here: https://www.tradefinanceglobal.com/posts/podcast-s1-e54-podcast-multilateral-perspective-a-roadmap-for-sustainable-trade-finance/
33 minutes | 7 months ago
FCI: Views from the Board, Factoring and Receivables
One year ago, FCI members gathered in Ho Chi Minh City, Vietnam, at FCI’s Annual Conference. Reflecting back, the 2018 factoring volumes stood at 2.7tn euros. For 2019, the volumes increased once again, by just over 5% YoY, at 2.9tn euros. What were the biggest challenges to the industry in 2019? 2019 saw extreme economic and political volatility, the rise in nationalism and protectionism, and of course, this led to a general slowdown in global trade. This was all before the coronavirus pandemic. Fast forwarding 12 months, the geopolitical and macroeconomic factors continued, even heightened, coupled with the crippling effects of the Covid-19 crisis. The Receivables finance industry now plays a critical role in recovery and the turn towards eventual growth in global trade, particularly by continuing to finance SMEs during this challenging period. TFG’s Deepesh Patel caught up with FCI’s Chairman, Mr. Patrick de Villepin, and FCI Vice Chairman, Mrs. Daniela Bonzanini, joining virtually at the FCI Annual Conference. In this podcast we heard from FCI on: The legality of delivering a Dutch based association’s Annual Conference online Response from the factoring industry - how the pandemic has affected factoring volumes amongst FCI and FCI members Factoring in 2019 recap - factoring volumes grew 5% last year to just under 3 billion euros, also reaching 4.05% global penetration, a rise from the previous year The likely impact of factoring volumes as a result of Covid-19 The role of factoring in a real economy crisis The Bangladesh Policy on Factoring and FCI’s involvement The UNIDROIT Model Law on Factoring How can governments support and backstop the credit insurance market, why is this important, and what success have we seen so far? What is edifactoring and how does it help factors? Short- to medium-term focus for FCI Full transcript here: https://www.tradefinanceglobal.com/posts/podcast-s1-e53-fci-views-from-the-board-factoring-and-receivables/
26 minutes | 7 months ago
Building resilience in treasury: leadership, supply chains and cash flow
"Culture eats strategy for breakfast- which recognises the fact that strategies become extinct very quickly when faced with a pandemic, so it’s really important that the culture of a business or a treasury team, in this case, is one of agility and resilience." - Caroline Stockmann What then makes a good and effective leader? TFG's Deepesh Patel heard from Caroline Stockmann, Chief Executive, Association of Corporate Treasurers on lessons learned from the Covid-19 pandemic on building resilience in treasury. https://www.tradefinanceglobal.com/posts/podcast-s1-e53-building-resilience-in-treasury-leadership-supply-chains-and-cash-flow/
34 minutes | 7 months ago
Does Free Trade really work? The Good, Bad and Ugly of Trade
Trade is a force good, but with the current Covid-19 pandemic, the World Trade Organization facing its biggest challenges yet, and a turn towards protectionism in many economies, the current trade outlook is unsettling, and uncertain. The UK’s trading regime after the end of the transition period yields much uncertainty and potential tariff reversals in just a few months. Today we’re talking about the power of good trade policy, how trade negotiations are done, and how to mitigate the negative effects of trade. We heard from Professor L Alan Winters, Director of UKTPO at the University of Sussex. Full podcast and transcript here: https://www.tradefinanceglobal.com/posts/podcast-s1-e51-uktpo-when-trade-goes-wrong-the-bad-and-ugly-of-trade-l-alan-winters/
20 minutes | 8 months ago
The Transatlantic Trade Love Triangle
The United States and the European Union are the two most integrated trading blocks in the world, having increased their economic interdependence with the linkages in global supply chains, e-commerce, and investment. The trade flows between the two partners account for a third of world trade flows, totalling more than £1 trillion in 2019, and the two account for more than half of global foreign direct investment. Yet this triangle of trade has gone through a lot recently. With the UK leaving the EU, the current political stance of the US administration, and the increasing role of China in the global economy changes the dynamics of these three trading blocs, and the position of the UK post-Brexit. So what’s next for this powerful trio? TFG heard from Elitsa Garnizova, Senior Project Manager and Researcher, London School of Economics on the current updates and what we can expect in this UK-EU-US economic relationship. Full article here: https://www.tradefinanceglobal.com/posts/podcast-s1-e50-the-transatlantic-trade-love-triangle/
31 minutes | 8 months ago
The misuse of payables finance - Global Supply Chain Finance Forum (GSCFF) Commentary
The supply chain finance technique of payables finance is regarded by the industry as a useful and beneficial tool for both buyers and suppliers. Yet recently, it’s come under significant scrutiny by the press, financial Ombudsman, and various regulators around the world. Add to this, the financial distress wrought by the Covid-19 pandemic, with SMEs tending to be the first to feel the effects of financial crises. Peter Mulroy, Secretary General of FCI, Stacey Facter, SVP of Trade Products at BAFT, and Christian Hauscher, Chairman of the Global Supply Chain Finance Forum and Product Manager for Trade and SCF EMEA at Deutsche Bank, discussed why payables finance remains a force for good. Full article and report here: https://www.tradefinanceglobal.com/posts/podcast-s1-e49-misuse-of-supply-chain-finance-worrying-but-not-widespread-says-gscff/
19 minutes | 9 months ago
Customs, the BOM and Ro-Ro - What Next for the UK?
The Coronavirus Pandemic has quite rightly been the key focus for governments around the world in recent months, but that doesn’t mean the UK’s exit from the European Union has taken a backseat. Seems like quite a while ago now, but as of February 1st this year, the UK Brexited the EU, and we are in the transition phase until the end of 2020. But when clocks chime midnight at the New Year, the way exporters and importers trade with the EU will change significantly. There are implications for customs and declarations, changes at the ports, documentation, and various checks. The information provided is often quite overwhelming, so in this podcast, we are catching up with an expert in these areas – Institute of Export & International Trade’s Kevin Shakespeare.
19 minutes | 9 months ago
Separating cat pics from invoice scans - the role of artificial intelligence in global trade
Among the oldest areas of financial services, trade finance always held a central position within international trade, with 80 to 90% of transactions being financed by some form of credit, guarantee or insurance. However, the sector is one of the most manual and paper-based of the whole industry, resulting in expensive and error-prone operations with a slow processing time. Emerging and new technologies have potential to address these problems, with the potential to transform the way these transactions are conducted. With that in mind, today I am joined by Arnaud Doly, CEO & Founder of Nabu.
25 minutes | 10 months ago
The state of trade: tension, transition, and turning point. TL;DR on ICC’s Global Trade Survey
Banks remain fairly optimistic about the future of trade finance, according to ICC’s recently published annual global survey on trade finance. In the words of ICC’s Secretary General John Denton, “The year 2020 has not unfolded as anyone would have anticipated.” As partners of this survey, TFG heard from Alexander Malaket, Chair of the Global Survey, joining from Toronto. We’ll be dissecting the Global Survey, highlighting the key takehomes and discussing what this means for trade finance. Read more about the Global Survey here: https://www.tradefinanceglobal.com/posts/breaking-banks-predict-up-to-30-decline-in-trade-flows-latest-icc-global-survey-on-trade-finance-shows/
25 minutes | 10 months ago
'China Plus One' Strategy - Best of Both Worlds?
Trade in Asia is changing at an alarming pace. The US-China trade war continues to grind on, firms are now seriously thinking about their existing supply chain footprints, and understanding the importance of free trade agreements in and around APAC has never been more important. TFG heard from Dr. Deborah Elms, CEO, Asian Trade Centre on the impact of COVID19 for businesses in Singapore and also more widely in Asia Pacific. Full article and transcript here: https://www.tradefinanceglobal.com/posts/podcast-s1-e45-china-plus-one-strategy-best-of-both-worlds/
21 minutes | a year ago
WEF - The Fourth Industrial Revolution: Inclusive digital trade is the future
It's never been a more important time to recognise and accelerate the adoption of technology to help enhance, promote and ease global trade. Moreover, there are many challenges associated with the advancement of technologies, which are coinciding with the rapid emergence of: ecological constraints, the advent of increasingly multipolar international order and rising inequality. And to add to that, the economic and health impacts of the global pandemic Coronavirus have been huge. With that in mind, we were joined by the World Economic Forum’s Ziyang Fan, joining us from San Francisco. Full article and transcript here: https://www.tradefinanceglobal.com/posts/podcast-wef-the-fourth-industrial-revolution-inclusive-digital-trade-is-the-future/
20 minutes | a year ago
ICC SOS – Save Lives. Save Livelihoods. Save Our SMEs
The coronavirus crisis has affected MSMEs disproportionately and has revealed their vulnerability to the supply and demand shock, particularly around liquidity and cash flow. It’s estimated that 40-60% of small businesses might not reopen after the Coronavirus pandemic. 200 million full-time job losses are expected between April and July 2020. TFG heard from ICC’s Secretary General John Denton and talked about actions needed from governments, private sector leaders and international institutions to ensure the continued viability of our MSMEs. Full article and transcript here: https://www.tradefinanceglobal.com/posts/podcast-s1-e43-icc-sos-save-lives-save-livelihoods-save-our-smes/.
34 minutes | a year ago
$5 trillion and counting - the MSME Finance Gap
Today we’re talking about micro, small and medium enterprises (MSMEs), and their importance in real-world economic growth, job creation, and innovation. Creating opportunities through MSMEs, particularly in emerging and developing markets is crucial, as it can help advance economic development and reduce poverty. Micro, Small and Medium Enterprises (MSMEs) are one of the strongest drivers of economic development, innovation, and employment. Access to finance is often identified as a critical barrier to growth for MSMEs. Creating opportunities for MSMEs in emerging markets is a key way to advance economic development and reduce poverty. However, there is an MSME financing gap, to the magnitude of over $5 trillion USD according to the IFC’s recent analysis by the SME Finance Forum. Some 200 million businesses worldwide need financing to invest, grow and create new jobs, and they account for 9 out of 10 of business, half of global GDP, and two-thirds of job worldwide. We wanted to investigate this and discuss why governors, financiers, and private sector players need to come together to support developments in the MSME sector. Following on from TFG’s recent announcement of an industry partnership with the SME Finance Forum, today I’m joined by their CEO, Matt Gamser. Transcript here: https://www.tradefinanceglobal.com/posts/podcast-s1-e42-the-5-trillion-usd-msme-finance-gap-2/
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