DMCC is the world’s leading and fastest-growing Free Zone and Government of Dubai Authority for commodities trade, enterprise, and innovation in business service and infrastructure.
The Future of Trade 2021 is the fourth edition of DMCC’s flagship report exploring the changing nature of global trade following reports in 2016, 2018, and 2020.
Assessing the impact of geopolitics, technology, and global economic trends on the future of trade, with a focus on trade growth, the digitalization of trade, the pivot to sustainability, trade finance, and infrastructure.
WHAT IS THE FUTURE OF TRADE REPORT?
The report is a synthesis of quantitative research and global viewpoints on what the future holds based on research, data, and interviews with business leaders and trade experts
DMCC is the world’s leading and fastest-growing Free Zone and Government of Dubai Authority for commodities trade, enterprise, and innovation in business service and infrastructure.
The Future of Trade 2021 is the fourth edition of DMCC’s flagship report exploring the changing nature of global trade following reports in 2016, 2018, and 2020.
Assessing the impact of geopolitics, technology, and global economic trends on the future of trade, with a focus on trade growth, the digitalization of trade, the pivot to sustainability, trade finance, and infrastructure.
Future of trade - Insights from Discussions to date building on an initial pe...Future Agenda
The initial perspective on the future of trade by Gautam Sashittal, CEO of DMCC kicked off the Future Agenda 2.0 global discussions taking place through 2015. This summary builds on the initial view and is updated as we progress the futureagenda2.0 programme. www.futureagenda.org
Review looking at the future of financial technologies (FinTech) up to 2025.
This report sets out the findings of a review by the Government Chief Scientific Adviser on FinTech. It looks at:
* what government can do to help achieve the economic potential of FinTech
* how companies can work more closely with academia to ensure that the UK continues to be a world leader in this area
It recommends a number of actions for government to support the growth of the sector.
Beyond Banking: New Business Models for the Digital EraJessica Wilkinson
The banking and financial services industry is undergoing a period of unprecedented disruption, which is re-shaping the competitive landscape.
Criterium Group believes we’re experiencing a fundamental change in how people manage, save and spend their money –which means banks and credit unions will need to re-imagine how they deliver value to customers and members.
We’re experiencing a disintegration of the financial industry. But disruption is exciting, not scary. As our relationship with money evolves, there are endless opportunities to delight customers and deliver value. However, competing in a digital age takes a completely different approach.
Criterium Group has considered the changing landscape from a competitive, financial, technological and operational perspective to re-design the traditional banking business model to win in a digital world.
WHAT IS THE FUTURE OF TRADE REPORT?
The report is a synthesis of quantitative research and global viewpoints on what the future holds based on research, data, and interviews with business leaders and trade experts
DMCC is the world’s leading and fastest-growing Free Zone and Government of Dubai Authority for commodities trade, enterprise, and innovation in business service and infrastructure.
The Future of Trade 2021 is the fourth edition of DMCC’s flagship report exploring the changing nature of global trade following reports in 2016, 2018, and 2020.
Assessing the impact of geopolitics, technology, and global economic trends on the future of trade, with a focus on trade growth, the digitalization of trade, the pivot to sustainability, trade finance, and infrastructure.
Future of trade - Insights from Discussions to date building on an initial pe...Future Agenda
The initial perspective on the future of trade by Gautam Sashittal, CEO of DMCC kicked off the Future Agenda 2.0 global discussions taking place through 2015. This summary builds on the initial view and is updated as we progress the futureagenda2.0 programme. www.futureagenda.org
Review looking at the future of financial technologies (FinTech) up to 2025.
This report sets out the findings of a review by the Government Chief Scientific Adviser on FinTech. It looks at:
* what government can do to help achieve the economic potential of FinTech
* how companies can work more closely with academia to ensure that the UK continues to be a world leader in this area
It recommends a number of actions for government to support the growth of the sector.
Beyond Banking: New Business Models for the Digital EraJessica Wilkinson
The banking and financial services industry is undergoing a period of unprecedented disruption, which is re-shaping the competitive landscape.
Criterium Group believes we’re experiencing a fundamental change in how people manage, save and spend their money –which means banks and credit unions will need to re-imagine how they deliver value to customers and members.
We’re experiencing a disintegration of the financial industry. But disruption is exciting, not scary. As our relationship with money evolves, there are endless opportunities to delight customers and deliver value. However, competing in a digital age takes a completely different approach.
Criterium Group has considered the changing landscape from a competitive, financial, technological and operational perspective to re-design the traditional banking business model to win in a digital world.
Finch Capital issued its annual State of European fintech report for 2020. The report covers a range of topics impacting the fintech industry: where we are today; the impact of CV-19; the M&A conundrum; and trends the Finch Capital team anticipates will shape FinTech in 2021. This follows an analytical report published in April of this year titled ‘FinTech: The Future Post CV-19’.
Event: "#FinTech in Asia" - Slide Deck 2nd of February 2015CFTE
Slides used during the "FinTech in Asia" event organised by FinTech Circle and Hosted by Morrison & Foerster. Held in London on the 2nd of February 2015
Summary of the 2017 Financial Technology predictions, as published in 2016 with a focus on key investment themes as well as geographic trends. For more information or the full report email info@finchcapital.com
Lexology Getting the Deal Through Fintech Ireland 2020Matheson Law Firm
Why is Ireland uniquely placed to flourish as a Fintech hub, what are the triggers for regulated activities requiring authorisation, how does the regulatory landscape operate for Fintech firms and what trends are emerging in the Irish market? Answers to these questions are covered in the Ireland chapter of Lexology, Getting the Deal Through: Fintech 2020 by Financial Institutions Group partner, Liam Flynn and Financial Institutions Group senior associate, Lorna Daly.
The Inclusive Fintech 50 applicant pool provides new insights into inclusion-focused fintech, itself a subset of the fintech universe. Early-stage inclusive fintechs are developing innovative products, services, business models, and distribution channels to provide solutions for underserved segments. Yet these startups require capital and other resources in order to reach the world’s 3 billion financially underserved people. By highlighting these high-potential companies, we hope to support the efforts of investors, banking partners, and other fintechs working towards a financially inclusive world.
https://runfrictionless.com/b2b-white-paper-service/
This conference explored technological innovation across the financial services sector, from developments in leading tier 1 institutions to the disruptive innovators within the start-up community that are reshaping the FS market. The agenda also contextualised the impact of key technology trends such as: Cloud, Mobile, Big Data and Block Chain technology.
Crowdfunding law and regulation - EU and national issuesPaul Massey
Introduction to crowdfunding and peeling back the layers of EU and national legislation. Challenges to Capital Markets Union and cross-border investment with a particular look at the Prospectus Directive.
The Future of Trade 2022 is the fourth edition of DMCC’s biennial flagship report on the changing nature of global trade. In it, we examine the impact of technology, global economic trends, and geopolitics on the future of trade,
with a focus on trade growth, supply chains, trade finance, infrastructure, and sustainability. The report presents updated scenarios for how trade will develop in 2022 and
beyond, relevant for any reader involved in trade, trade policy, international investment, and the operation of businesses with global value chains.
Final Project - Trading for Development in the Age of Global Value Chains - W...Godwin Excel Kafui
This write-up is the final project on the course; Trading for Development in the Age of Global Value Chains (GVCs). The project basically explores the impact of digitization on GVCs, and also states some government policies from Ghana that help to broaden participation in GVCs
Finch Capital issued its annual State of European fintech report for 2020. The report covers a range of topics impacting the fintech industry: where we are today; the impact of CV-19; the M&A conundrum; and trends the Finch Capital team anticipates will shape FinTech in 2021. This follows an analytical report published in April of this year titled ‘FinTech: The Future Post CV-19’.
Event: "#FinTech in Asia" - Slide Deck 2nd of February 2015CFTE
Slides used during the "FinTech in Asia" event organised by FinTech Circle and Hosted by Morrison & Foerster. Held in London on the 2nd of February 2015
Summary of the 2017 Financial Technology predictions, as published in 2016 with a focus on key investment themes as well as geographic trends. For more information or the full report email info@finchcapital.com
Lexology Getting the Deal Through Fintech Ireland 2020Matheson Law Firm
Why is Ireland uniquely placed to flourish as a Fintech hub, what are the triggers for regulated activities requiring authorisation, how does the regulatory landscape operate for Fintech firms and what trends are emerging in the Irish market? Answers to these questions are covered in the Ireland chapter of Lexology, Getting the Deal Through: Fintech 2020 by Financial Institutions Group partner, Liam Flynn and Financial Institutions Group senior associate, Lorna Daly.
The Inclusive Fintech 50 applicant pool provides new insights into inclusion-focused fintech, itself a subset of the fintech universe. Early-stage inclusive fintechs are developing innovative products, services, business models, and distribution channels to provide solutions for underserved segments. Yet these startups require capital and other resources in order to reach the world’s 3 billion financially underserved people. By highlighting these high-potential companies, we hope to support the efforts of investors, banking partners, and other fintechs working towards a financially inclusive world.
https://runfrictionless.com/b2b-white-paper-service/
This conference explored technological innovation across the financial services sector, from developments in leading tier 1 institutions to the disruptive innovators within the start-up community that are reshaping the FS market. The agenda also contextualised the impact of key technology trends such as: Cloud, Mobile, Big Data and Block Chain technology.
Crowdfunding law and regulation - EU and national issuesPaul Massey
Introduction to crowdfunding and peeling back the layers of EU and national legislation. Challenges to Capital Markets Union and cross-border investment with a particular look at the Prospectus Directive.
The Future of Trade 2022 is the fourth edition of DMCC’s biennial flagship report on the changing nature of global trade. In it, we examine the impact of technology, global economic trends, and geopolitics on the future of trade,
with a focus on trade growth, supply chains, trade finance, infrastructure, and sustainability. The report presents updated scenarios for how trade will develop in 2022 and
beyond, relevant for any reader involved in trade, trade policy, international investment, and the operation of businesses with global value chains.
Final Project - Trading for Development in the Age of Global Value Chains - W...Godwin Excel Kafui
This write-up is the final project on the course; Trading for Development in the Age of Global Value Chains (GVCs). The project basically explores the impact of digitization on GVCs, and also states some government policies from Ghana that help to broaden participation in GVCs
International Regulatory Cooperation (Policy Brief 2020)OECD Governance
Laws and regulations are pervasive to all areas of life for businesses and citizens. They are an essential part of the policy
making at national level. Yet, laws and regulations often have domestic reach, while many of today’s most pressing
policy challenges transcend national borders as illustrated by global pandemics such as the COVID-19, environmental
issues such as climate change or dealing with digitalisation. This mismatch means states must cooperate to fully achieve
their public policy objectives and to ensure the well-being of their citizens.
This policy brief:
1 ) outlines the main reasons for cooperating on laws and regulations;
2 ) identifies how countries can cooperate on their laws and regulations; and
3 ) considers how international rule-makers can improve their activity.
ICC has set out five recommendations to modernize the regulatory and competition framework that would provide protection for consumers while fostering competition, investment and innovation.
This paper explores Colombia’s possibilities to participate in GVCs production; the essay includes feature of GVC trading for development, the trend of higher tariffs and protectionism, attracting Foreign Direct Investment, and policy implications.
Globalisation has become associated with difficulties for less-skilled workers, inequality and a general sense that it is not working for large sections of society, in both advanced and emerging economies. There is much to be done with domestic policy to improve outcomes, but there is also a strong need for better alignment of domestic and international policies and a more level playing field in the cross-border activities of businesses.
This booklet reproduces highlights from the 2017 edition of the OECD Business and Finance Outlook which focuses on ways to enhance “fairness”, in the sense of strengthening global governance, to ensure a level playing field in trade, investment and corporate behaviour, through the setting and better enforcement of global standards.
Find out more here http://www.oecd.org/daf/oecd-business-and-finance-outlook-2017-9789264274891-en.htm
The trade landscape, as we know it, is changing: Is India prepared?aakash malhotra
In report of August 2022, Deloitte India discusses the crucial changes occurring in the Indian economy and how exports contribute to India's GDP and vision of becoming a US$5 trillion economy.
The "Future of Trade 2024: Snapshot" report by DMCC explores the transformative changes and emerging trends in the global trade landscape. As the fifth edition of DMCC's biennial flagship report, it highlights how shifting political and economic alliances, technological advancements, and sustainability initiatives are reshaping trade dynamics. Key themes include the rise of regionalization due to geopolitical tensions, the reconfiguration of supply chains, the integration of AI, and the drive towards carbon net-zero.
The report underscores the significance of adapting to new realities, such as the "chip war" between the US and China, and the pivotal role of AI and sustainability in driving trade efficiency and creating new market demands. It also addresses the strategic implications for businesses and policymakers, emphasizing the need for agility and foresight.
Furthermore, the report delves into the drivers of change, such as geopolitical events, technological innovations, and environmental shifts, which are set to influence trade policies and consumer behavior. It offers insights from global experts and roundtables, providing strategic advice for navigating the complexities of modern trade.
Ultimately, the "Future of Trade 2024: Snapshot" serves as a comprehensive guide for understanding the evolving trade environment, equipping stakeholders with the knowledge to make informed decisions and capitalize on emerging opportunities in a rapidly changing world.
Over the last five years, several interlocking technology trends have facilitated the so-called ‘web3’ era. Blockchain, cryptocurrencies, the metaverse and new forms of digital value, such as non-fungible tokens (NFTs), have emerged to offer new modes of engagement, experience, transactions and autonomy in the digital space. This new chapter in the world wide web promises to be decentralised and open to all, with implications for brands, financial institutions, consumers, and regulators. This Future of Trade special edition report by DMCC (Dubai Multi Commodities Centre) assesses the dynamics driving growth and innovation in digital decentralisation.
Over the last five years, several interlocking technology trends have facilitated the so-called ‘web3’ era. Blockchain, cryptocurrencies, the metaverse and new forms of digital value, such as non-fungible tokens (NFTs), have emerged to offer new modes of engagement, experience, transactions and autonomy in the digital space. This new chapter in the world wide web promises to be decentralised and open to all, with implications for brands, financial institutions, consumers, and regulators. This Future of Trade special edition report by DMCC (Dubai Multi Commodities Centre) assesses the dynamics driving growth and innovation in digital decentralisation.
This publication serves as the first in-depth thought leadership report from DMCC on the lab-grown diamond (LGD) industry. It discusses how this nascent product will shape the Future of Trade, gathering insights from key industry leaders on the opportunities and challenges brought about by LGDs at all levels of the value chain.
This publication serves as the first in-depth DMCC (Dubai Multi Commodities Centre) thought leadership report on the global and local gaming and esports ecosystem. It gathers contributions from key opinion leaders to share their views on where the gaming and esports industry is heading and places emphasis on the drivers of gaming and esports from a technology, culture and business perspective.
The Future of Trade 2022 is the fourth edition of DMCC’s biennial flagship report on the changing nature of global trade. In it, we examine the impact of technology, global economic trends, and geopolitics on the future of trade,
with a focus on trade growth, supply chains, trade finance, infrastructure, and sustainability. The report presents updated scenarios for how trade will develop in 2022 and
beyond, relevant for any reader involved in trade, trade policy, international investment, and the operation of businesses with global value chains.
The Future of Trade 2022 is the fourth edition of DMCC’s biennial flagship report on the changing nature of global trade. In it, we examine the impact of technology, global economic trends, and geopolitics on the future of trade,
with a focus on trade growth, supply chains, trade finance, infrastructure, and sustainability. The report presents updated scenarios for how trade will develop in 2022 and
beyond, relevant for any reader involved in trade, trade policy, international investment, and the operation of businesses with global value chains.
The world of search engine optimization (SEO) is buzzing with discussions after Google confirmed that around 2,500 leaked internal documents related to its Search feature are indeed authentic. The revelation has sparked significant concerns within the SEO community. The leaked documents were initially reported by SEO experts Rand Fishkin and Mike King, igniting widespread analysis and discourse. For More Info:- https://news.arihantwebtech.com/search-disrupted-googles-leaked-documents-rock-the-seo-world/
Digital Transformation and IT Strategy Toolkit and TemplatesAurelien Domont, MBA
This Digital Transformation and IT Strategy Toolkit was created by ex-McKinsey, Deloitte and BCG Management Consultants, after more than 5,000 hours of work. It is considered the world's best & most comprehensive Digital Transformation and IT Strategy Toolkit. It includes all the Frameworks, Best Practices & Templates required to successfully undertake the Digital Transformation of your organization and define a robust IT Strategy.
Editable Toolkit to help you reuse our content: 700 Powerpoint slides | 35 Excel sheets | 84 minutes of Video training
This PowerPoint presentation is only a small preview of our Toolkits. For more details, visit www.domontconsulting.com
3.0 Project 2_ Developing My Brand Identity Kit.pptxtanyjahb
A personal brand exploration presentation summarizes an individual's unique qualities and goals, covering strengths, values, passions, and target audience. It helps individuals understand what makes them stand out, their desired image, and how they aim to achieve it.
Unveiling the Secrets How Does Generative AI Work.pdfSam H
At its core, generative artificial intelligence relies on the concept of generative models, which serve as engines that churn out entirely new data resembling their training data. It is like a sculptor who has studied so many forms found in nature and then uses this knowledge to create sculptures from his imagination that have never been seen before anywhere else. If taken to cyberspace, gans work almost the same way.
Tata Group Dials Taiwan for Its Chipmaking Ambition in Gujarat’s DholeraAvirahi City Dholera
The Tata Group, a titan of Indian industry, is making waves with its advanced talks with Taiwanese chipmakers Powerchip Semiconductor Manufacturing Corporation (PSMC) and UMC Group. The goal? Establishing a cutting-edge semiconductor fabrication unit (fab) in Dholera, Gujarat. This isn’t just any project; it’s a potential game changer for India’s chipmaking aspirations and a boon for investors seeking promising residential projects in dholera sir.
Visit : https://www.avirahi.com/blog/tata-group-dials-taiwan-for-its-chipmaking-ambition-in-gujarats-dholera/
VAT Registration Outlined In UAE: Benefits and Requirementsuae taxgpt
Vat Registration is a legal obligation for businesses meeting the threshold requirement, helping companies avoid fines and ramifications. Contact now!
https://viralsocialtrends.com/vat-registration-outlined-in-uae/
RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...BBPMedia1
Marvin neemt je in deze presentatie mee in de voordelen van non-endemic advertising op retail media netwerken. Hij brengt ook de uitdagingen in beeld die de markt op dit moment heeft op het gebied van retail media voor niet-leveranciers.
Retail media wordt gezien als het nieuwe advertising-medium en ook mediabureaus richten massaal retail media-afdelingen op. Merken die niet in de betreffende winkel liggen staan ook nog niet in de rij om op de retail media netwerken te adverteren. Marvin belicht de uitdagingen die er zijn om echt aansluiting te vinden op die markt van non-endemic advertising.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Memorandum Of Association Constitution of Company.pptseri bangash
www.seribangash.com
A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
https://seribangash.com/article-of-association-is-legal-doc-of-company/
Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
www.seribangash.com
Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
https://seribangash.com/promotors-is-person-conceived-formation-company/
Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
Attending a job Interview for B1 and B2 Englsih learnersErika906060
It is a sample of an interview for a business english class for pre-intermediate and intermediate english students with emphasis on the speking ability.
Putting the SPARK into Virtual Training.pptxCynthia Clay
This 60-minute webinar, sponsored by Adobe, was delivered for the Training Mag Network. It explored the five elements of SPARK: Storytelling, Purpose, Action, Relationships, and Kudos. Knowing how to tell a well-structured story is key to building long-term memory. Stating a clear purpose that doesn't take away from the discovery learning process is critical. Ensuring that people move from theory to practical application is imperative. Creating strong social learning is the key to commitment and engagement. Validating and affirming participants' comments is the way to create a positive learning environment.
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
Personal Brand Statement:
As an Army veteran dedicated to lifelong learning, I bring a disciplined, strategic mindset to my pursuits. I am constantly expanding my knowledge to innovate and lead effectively. My journey is driven by a commitment to excellence, and to make a meaningful impact in the world.
Business Valuation Principles for EntrepreneursBen Wann
This insightful presentation is designed to equip entrepreneurs with the essential knowledge and tools needed to accurately value their businesses. Understanding business valuation is crucial for making informed decisions, whether you're seeking investment, planning to sell, or simply want to gauge your company's worth.
2. What is the Future of Trade report?
DMCC is the world’s leading and fastest growing Free Zone and Government
of Dubai Authority for commodities trade, enterprise and innovation in business service
and infrastructure.
The Future of Trade 2021 is the fourth edition of DMCC’s flagship report exploring the
changing nature of global trade following reports in 2016, 2018 and 2020.
Assessing the impact of geopolitics, technology, and global economic trends on the
future of trade, with a focus on trade growth, the digitalisation of trade, the pivot
to sustainability, trade finance and infrastructure.
3. Global trade has defied expectations and
will rebound in 2021 after showing surprising
resilience despite the COVID-19 pandemic.
4. Fears that trade would collapse by between
13-32% last year were not realised.
It is estimated that global trade in goods
dropped by just 5.3%, with trade supported
in part by the unprecedented policy
measures implemented by governments to
shore up their economies
5.
6. Trade growth is showing resilience
despite the continuing uncertainty around
the current multi-speed recovery and
significant country disparities.
7. The WTO forecasts
that trade will
increase 8% in 2021
The vaccine roll out is
key to economic
recovery
OECD forecasts global
economic growth of
5.6% in 2021. This will
be driven largely by
recovery in the US and
China
8. Unprecedented policy
measures in the wake of the
COVID-19 pandemic are
estimated to have contributed
6 percentage points to global
growth in 2020.
Emerging and developing
economies could see less policy
support as governments balance
current stimulus with maintaining
capacity for future action.
9. Recommendations
• Increase investment in digital technologies of
the future in order to reduce costs and build
cross-sector synergies.
• Elevate the role of research and development in
order to incorporate sustainable practices in the
core functioning of businesses, to promote
cross-border spillover.
• Advocate for trade policies from government
that support and promote private sector
involvement in sustainable development.
• Advocate for free and open trade and against
protectionist policies in a coordinated fashion
such as the B20.
• International policy coordination is essential for
sustained recovery in cross-border trade and
investment.
• Central bank policy coordination is essential for
providing liquidity, supporting bank lending and
therefore the private sector and trade.
• Central banks need to communicate policy
changes effectively to avoid rate shocks to the
cost of trade finance.
• Governments should diversify trade
relationships to promote economic
transformation for job-intensive growth.
FOR GOVERNMENT FOR BUSINESS
10.
11. In the wake of the COVID-19 pandemic there
could be a ‘new age of protectionism’.
12. A US tripartite strategy of competition,
confrontation and compromise is likely to frame
its interaction with China when it comes to the
countries’ future trade relationship.
The US administration’s focus on ‘Made in
America’ could transform relationships,
including with China
13. Protectionism can be kept at bay
by the fact that it is costly,
unpredictable and typically costs
jobs; economic nationalism is
more likely to occur.
Good protectionism
should be fostered: both financial
support and protected time are
necessary.
14. The new WTO leadership will have to tackle three defining
features of the trade landscape:
Increased
regionalism
Growing
trade digitilisation
Closer ties
with the WHO
15. Recommendations
• Governments should use all macroeconomic
and financial tools at their disposal to promote
mutually beneficial trading relationships to avoid
falling back on the usage of tariffs.
• World leaders should promote a coordinated
surveillance mechanism to track any resurgence
of protectionism, including through international
financial institutions.
• Governments should step up coordinated action
to promote and protect the Doha trade round
that has stalled.
• Governments should come up with policies to
alleviate rises in youth unemployment and
underemployment.
• Companies can advocate for targeted
liberalisation of goods in key sectors through
highlighting the economy-wide benefits and the
costs of protectionist measures.
• Information sharing in the private sector to
increase awareness of job losses and loss of
competitiveness associated with protectionism.
• Companies should take advantage of and make
strategic usage of free trade zones when it
comes to agreeing commercial trading
contracts.
FOR GOVERNMENT FOR BUSINESS
16.
17. Technology will have a game-changing impact on trade flows –
it will unlock new markets for growth, realise efficiencies across
supply chains, and accelerate opportunities for crossborder
trade of goods and services.
18. The COVID-19 pandemic has driven commerce
online (guided by lockdowns and consumer
preference for ‘contactless’ shopping). Forcing
service providers to turn to technology to
increase efficiency across their operations and
manage costs.
20. The effect of the pandemic has been most
concentrated at the consumer-end of the supply
chain. Technology adoption in ports and
shipping continues but has not accelerated.
21. Blockchain is maturing, with an increasingly
wide number of applications across security,
trust and efficiency.
A study by PwC (2020) projected that
blockchain could result in more than US$1
trillion in new trade in this decade through
the removal of trade barriers.
22. DeFi applications have the potential to
revolutionise trade finance, and address some
of the major challenges around access to trade
finance by disrupting current trade finance
models.
Since the start of 2021 alone, the total value
locked into DeFi has tripled from
approximately USD 20bn to USD 60bn.
23. Trend 1: Technology will
facilitate goods trade by
reducing costs and barriers.
• The use of AI to drive down transport and logistics costs in autonomous transport
vehicles and warehousing and logistics solutions.
• The use of blockchain in cross-border trade processes, including smart contracts and
DeFi.
• The reduction of waste, loss and fraud through security solutions supported by the
internet of things.
• The disruption of trade brokering businesses by new digital platforms.
Trend 2: Technology will
unlock new markets for
growth.
• E-commerce will continue to drive trade.
• Technology will enable services to significantly increase its share of global trade.
Trend 3: Technology will
disrupt global value
chains.
• Automation will bring manufacturing closer to centres of consumption.
• Additive manufacturing will have a similar impact on the trade in components,
allowing them to be manufactured on or near sites of assembly.
TREND TECHNOLOGIES
24. Recommendations
• Enhanced international cooperation on the
usage of data in the service of economic growth
and cross-border trade is essential.
• Develop and incentivise links between
regulators for the effective management of
data.
• Governments should continue to develop digital
currencies and the infrastructure around them to
encourage international trade and cross-border
investment.
• Governments must prioritise collaboration with
the private sector to promote digital technology.
• DeFi should be a core priority for companies,
particularly when building trade relationships in
emerging and developing economies.
• The private sector a should promote the ethical
usage of cross-border data flows.
• Companies should elevate the role of research
and development in digital technologies.
• Companies’ enhanced coordination with
governments is crucial for facilitating new
technological innovations for the promotion of
trade.
FOR GOVERNMENT FOR BUSINESS
27. CBAM (Carbon pricing) signifies a key
inflection point for countries'' climate
commitments.
CBAM (Carbon pricing)
may be divisive and will
underscore the need for alternative
carbon pricing mechanisms.
28. Industrial producers with carbonintensive
processes will be hardest hit by the tax.
This will likely affect trade competition, with
companies seeking to reduce their carbon
footprints via sustainable technologies.
29. Producers in countries with limited
regulations on carbon emissions
face the biggest challenges, a factor
that will also contribute to a shifting
competitive landscape.
30. ESG will be a leading investment trend
over the coming decades.
AI-driven models built for ESG
analysis will drive new approaches
for ESG reporting.
31. Recommendations
• Governments need to come up with a more
palatable means of pricing carbon in
coordination with the private sector.
• Economies’ energy transition away from fossil
fuels requires investment in new technology and
closer coordination with the private sector.
• Governments need firm and clear plans to
execute their commitments to reach their
climate goals.
• There should be enhanced cooperation and
information sharing among the world’s largest
emitting economies to make discernible
progress towards their climate commitments.
• Companies must incorporate sustainable
practices in the core of their business.
• Companies must support implementation of
ESG metrics in assessing cross-border
investment and trade flows, in equities, bond
markets and in foreign exchange.
• The private and public sector need to agree to a
standardised taxonomy of what constitutes a
green investment.
• Companies need to work with governments like
never before to finance and channel green
technology.
FOR GOVERNMENT FOR BUSINESS
32.
33. The dual gap in trade finance and infrastructure,
threatens to impede global trade in the years ahead.
There continue to be several ways in which the trade
finance gap could be addressed – by increasing the
size of the trade finance pool, leveraging technology
to make trade finance products more available,
through decentralised finance, and improving trade
finance applications.
However, multiple forms of financing mechanisms for
sustained trade growth need to be in place in order
to meet SME demand for short-term finance during
times of crisis and financial market volatility, as well
as key infrastructure to facilitate trade flows.
34. The need for trade finance is
significant and growing.
The key overarching
policy priority should be scaling
blended finance to catalyse both private
and public sector stakeholders.
The trade financing gap is estimated
between US$2-5 trillion globally with
the International Chamber of
Commerce estimating that US$5 trillion
in trade credit capacity is needed to
return trade volumes back to 2019
levels.
35. Transport infrastructure is key for trade. Freight costs in developing
countries are on average 70% higher than in developed countries
and an improvement in a country’s infrastructure can make a big
difference to the costs of trading.
36. The global infrastructure gap was high and rising
and has been pushed higher by the economic
shock of the pandemic. Pre-COVID-19, the
estimate was of a global infrastructure investment
need of US$6.3 trillion per year up to 2030 just to
support critical growth and development.
Following COVID-19, these numbers have
increased with a US$15 trillion gap forecast for
2040.
37. Recommendations
• Governments urgently need to engage with the
private sector to promote wider usage and
availability of blended finance facilities to close
the trade finance and infrastructure gaps.
• Information sharing and standardisation of risk
metrics, in coordination with the private sector,
is key to unlocking trade finance and trade
infrastructure.
• Governments need to boost mechanisms to
support access to short-term finance during
financial and economic shocks.
• Governments should support the expansion of
export credit agencies to promote trade finance
options.
• The corporate and financial sectors need to
collaborate with the public sector and actively
pursue investments in infrastructure and trade
finance.
• The business sector needs to build more ties
with institutions that underwrite and insure
against risks, so that further investment can be
unlocked.
• Digital technologies need to be leveraged in
order to find efficient ways to fill the trade
financing and trade infrastructure gaps.
• Research and development should be elevated
and targeted to developing new trade finance
applications in tandem with digital technologies.
FOR GOVERNMENT FOR BUSINESS
38. Recommendations
• Governments urgently need to engage with the private
sector to promote wider usage and availability of
blended finance facilities to close the trade finance and
infrastructure gaps.
• Information sharing and standardisation of risk metrics,
in coordination with the private sector, is key to
unlocking trade finance and trade infrastructure.
• Governments need to boost mechanisms to support
access to short-term finance during financial and
economic shocks.
• Governments should support the expansion of export
credit agencies to promote trade finance options.
• The corporate and financial sectors need to collaborate
with the public sector and actively pursue investments
in infrastructure and trade finance.
• The business sector needs to build more ties with
institutions that underwrite and insure against risks, so
that further investment can be unlocked.
• Digital technologies need to be leveraged in order to
find efficient ways to fill the trade financing and trade
infrastructure gaps.
• Research and development should be elevated and
targeted to developing new trade finance applications
in tandem with digital technologies.
FOR GOVERNMENTS FOR BUSINESS
Conclusion
The outlook for trade remains resilient, notwithstanding the multitude of downside risks and challenges in
the years ahead. Continued policy support, pent-up demand by households and business in the retail and
manufacturing sectors are likely to support the outlook for trade.
International policy coordination in relation to boosting trade for more vulnerable economies remains
critical to address in forums such as the upcoming G7 Summit, as developing and emerging economies
may take longer to recover.
On balance, the politics of trade encompasses a range of risks, including tensions in the US-China trade
relationship and indications of a ‘new age of protectionism.’ Although protectionism is likely to be kept at
bay – economic nationalism is likely to take centre stage when it comes to the setting of trade policies.
Alongside these challenges, a sustainable future for trade needs to be established, as well as how policy,
innovative finance and stakeholders in private and public sectors coordinate to tackle trade finance and
infrastructure gaps that continue to widen
following the COVID-19 pandemic.