A session by Loh Sin Yong from Infocomm Media Development Authority (IMDA) at TXF’s Global Trade Virtual 2021, explored one potential solution to the now highly paper-reliant trade.
Your morning coffee briefing from TFG. The global economy could lose over $4 trillion due to the pandemic, world’s leading economies agree on a global minimum corporate tax rate of 15%, US economy shows signs of rebounding after Joe Biden’s stimulus package, European companies focus on ASEAN region amid expectations of business growth, and UK and Singapore start negotiations on digital trade to cut red tape on e-transactions and e-signatures.
Developing and harmonising existing standards within trade finance is key for digitalising trade.
President of EBRD, Odile Renaud-Basso, spoke with TFG about COVID-19, sustainable trade and the gender gap in finance for City Week 2021.
Owing to the pandemic, eUCP Version 2.0 and eURC Version 1.0 rules created by the ICC have received increased interest over the past few months. There is a growing realisation by practitioners that paper documents are causing delays and disruption.
Your morning coffee briefing from TFG. Global foreign direct investment is set to partially recover after plummeting in 2021. Enhanced Integrated Framework (EIF)’s Annual Report highlights resilience of poorest countries despite the COVID-19 pandemic.
On the 11th June, the Group of Seven Nations (G7) met to discuss current global economic concerns and plans, where US president Joe Biden proposed that all countries have an agreed floor of corporation tax.
International Chamber of Commerce (ICC) warns G7 leaders they risk imposing major costs to the global economy
The Factoring – Credit Insurance Working Group held its sixth annual meeting on 31 March 2021, to discuss the state of the industry.
The need for trade finance digitization has never been clearer. In today’s pandemic-ravaged landscape, banks face multiple challenges, including the legislative shift to digital trade documents and growing regulatory scrutiny, changing customer behaviour and increasing competition in the form of trade finance investment funds.