At the 2023 ITFA Trade and Investment Forum in London, Trade Finance Global spoke with Alexander Malaket, president, OPUS Advisory Services, to learn more about trade finance as an asset class, the promise of a standardised rating system, and the role of ESG as a catalyst for investment

VIDEO: Learn more about the letter of credit and the rules governing its use in this four-part interview series with Pradeep Taneja of ICC Bahrain. Includes: tips and explanations of the UCP 600 and the evolution of the rules.

In 2023, environmental and climate issues will again be at the top of the policy agenda in the Middle East and North Africa. The upcoming COP28 climate conference in Dubai and the rapid growth in the renewables sector in Egypt and North Africa both point to the growing power of MENA states within global climate politics.

Quite often, trade does not happen directly between the producer of the raw material, the manufacturer and the end user. The supply chain process involved are complex, with each point in the journey ‘adding value’ and potentially adding to the “sustainability footprint” of the product. 

In this episode of Trade Finance Talks, Deepesh Patel, editor at TFG was joined by Chris Southworth, co-chair of Legal Reform Advisory Board at ICC Digital Standards Initiative, and Nick Davies, director of the Centre for Digital Trade and Innovation.

As the commodity trading industry looks back on Q1 of 2023, it is evident that the first three months of the year have been marked by a number of significant events. 

The Arab region has seen significant progress in education, particularly for women, thanks to the ambitious Visions for 2030 and the United Nations’ Sustainable Development Goals (SDGs). Governments have prioritised education reform to break generational cycles of poverty, inequality, and stagnant economic growth, leading to Arab women excelling in education and driving regional prosperity.

The dematerialisation of invoices and other supply chain documents is set for rapid growth. Most importantly the B2B market can be expected to build on the success of larger enterprises in automating their accounts payable and receivable processes to spread e-invoicing practices to small and medium-sized businesses (SME).

Trade is critical in advancing economies, including those in the MENA region. At the same time, trade finance presents unique opportunities for criminal exploitation, also referred to as Trade Based Financial Crime (TBFC).

Industrialisation is a critical component of economic development, with many benefits that include improved standard of living, economic stability, growth in agricultural production, the balance of payment surpluses and high employment rates.