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TFG Weekly Trade Briefing, 28th November 2022

ICC releases new report on MSME digital exports in Southeast Asia

Sustainably-linked, revolving credit facility secured by Gunvor worth $1.6bn

UAE-Africa trade ties strengthened through Etihad Credit Insurance and African Trade Insurance Agency partnership

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DG Okonjo-Iweala: “We need multilateral cooperation and solidarity more than ever”

VIDEO | Visa: the highs and lows of B2B payments

COP27 leaves 1.5 goal on “life support” says ICC Secretary General

UK Export Finance commits up to £4bn to strengthen UK and Moroccan trade ties

RBC launches Swift Go to facilitate frictionless cross-border payments

ICC releases new report on MSME digital exports in Southeast Asia

The International Chamber of Commerce (ICC) and Google have partnered to research the digital exports of micro, small and medium-sized enterprises (MSMEs) in Southeast Asia to inform policy discussions and develop tailored training programmes to upskill and empower MSMEs in the region.

According to the paper, MSMEs account for between 97.2% and 99.9% of total businesses and contribute between 51.7% and 97.2% of total employment.

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Sustainably-linked, revolving credit facility secured by Gunvor worth $1.6bn

Gunvor Group Ltd has signed a $1.645 billion sustainability-linked, multi-currency revolving credit facility (RCF) in favour of Gunvor International B.V. and Gunvor SA. 

The RCF received strong support from both existing and new banking partners, increasing the total amount of the facility from the previous year. 

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UAE-Africa trade ties strengthened through Etihad Credit Insurance and African Trade Insurance Agency partnership

Etihad Credit Insurance (ECI), the UAE Federal export credit company, and African Trade Insurance Agency (ATI) signed a reciprocal reinsurance agreement to strengthen trade ties and boost exports between the two markets by providing trade credit insurance and trade finance solutions to businesses.

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DG Okonjo-Iweala: “We need multilateral cooperation and solidarity more than ever”

In a lecture delivered to the Lowy Institute in Sydney, Australia, on 22 November, Director-General Ngozi Okonjo-Iweala warned that the multilateral trading system was under growing threat from fragmentation and decoupling, which “would not just be economically costly: it would leave all countries more vulnerable to the global commons problems that now represent some of the biggest threats to our lives and livelihoods.” 

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VIDEO | Visa: the highs and lows of B2B payments

To learn more about the cross-border B2B payments landscape, Trade Finance Global (TFG) interviewed Ben Ellis, global head of Visa B2B Connect.

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COP27 leaves 1.5 goal on “life support” says ICC Secretary General

Following the conclusion of the COP27 climate summit, the International Chamber of Commerce (ICC) has issued the following statement.

“If Glasgow succeeded in ‘keeping 1.5 alive’, that goal sadly leaves Sharm-El-Sheikh on life support. #COP27 could have delivered much more for business and far more for the planet.”

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UK Export Finance commits up to £4bn to strengthen UK and Moroccan trade ties

UKEF announces it is now open for business in Morocco with appointment of new International Export Finance Executive in Casablanca.

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RBC launches Swift Go to facilitate frictionless cross-border payments

To address the growing need for companies to provide frictionless cross-border payments, RBC has launched Swift Go.

This new solution enables Canadian businesses to send cross-border payments of up to $10,000 in foreign currencies with speed, security, predictability, and efficiency.

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Go to the Source – TFG Weekly Trade Briefing, 28th November 2022