ICC Global Survey 2018: Securing future growth

No. 890E

ISBN : 978-92-842-0509-7

Boosting growth, prosperity and inclusion through trade With the 10th anniversary title, “Global Trade – Securing Future Growth”, the annual publication shifts from its previous title “Rethinking Trade & Finance”, also highlighting the linkages between trade financing and the successful pursuit of international trade, now well established, to bringing back into focus trade as a driving force in global economic growth, prosperity and inclusion. An overview and executive summary of the report’s key findings - with a global context and macro view; results from the ICC Global Survey on Trade Finance 2018 and further insights into trade financing matters; regulation and compliance; digitisation and technology and transformations in sustainable trade finance; as well as a spotlight on trade, finance, and digitisation in Singapore and China.

This year’s publication is underpinned by the most comprehensive and authoritative survey on global trade finance, with views collected from 251 banks headquartered in 91 countries. But it is much more than the ICC global survey on trade finance and its analysis: it is a platform for trade and international commerce to share perspectives. The insights and views will help drive strategy, shape policy and regulation, conceive of and carry out innovative solutions. The publication aims above all contribute to trade-based growth and economic inclusion globally.

The report also touches on the major areas of Banking Commission activity, including globallyrecognised, rule-making and standard-setting, regulatory and policy advocacy, and contributions to make trade and trade financing more inclusive and sustainable. The ICC Banking Commission advocates and champions trade and trade financing at the most fundamental, transactional level and at the highest level of business and policy.

As John W.H. Denton AO, ICC’s new Secretary General, notes in his Foreword, ICC is the only private sector Observer to the UN General Assembly and a leading voice for global business across intergovernmental forums. It has long held that an inclusive and evidence-based policy process can drive global economic growth and further development goals. The ICC Global Survey is a concise demonstration of this conviction and its findings also intend to contribute to informing an international policy process to share the gains of trade more widely

Code ISBN : 978-92-842-0509-7
Number of pages : 174
Publishing date : 2018-05-01
Language : English

Foreword/John W.H. Denton AO, Secretary General, International Chamber of Commerce

Message from the report Chair/Alexander R Malaket Market Intelligence Chair, ICC Banking Commission

EXECUTIVE SUMMARY

Wrap up of 2018 report/Boosting growth, prosperity and inclusion through trade

MACROECONOMIC CONTEXT FOR TRADE AND FINANCE

Setting the scene/Roberto Azevêdo, Director-General, WTO

Global economic outlook/Protectionism and reform complacency could imperil a sustained recovery

Global trade and supply chains/Growing anew, but for how long?

Commodity trade finance/La vie en rose? Not quite

FINANCE FOR TRADE

Setting the scene/Arancha González, Executive Director, ITC

ICC Global Survey on Trade Finance 2018/Where banks stand on strategy and operations

SWIFT trade traffic/The year in review/A major category 7 upgrade is underway/Watch Traffic

TXF-ICC Export Finance Survey/Profits hold up amid mixed views on the market

Export Credit and Investment Insurance/Strong performance, but political risks cast a long shadow

Multilateral development banks/No letup in expansion

REGULATION AND COMPLIANCE

Setting the scene/Sir Michael Rake, CEO, Worldpay

Making trade finance attractive investments/What it would take 

Trends in trade finance regulation/Dealing better with anti-money laundering

Risk-based regulatory compliance/Back to basics for better surveillance

Basel IV/Will new rules help or hurt the market for trade finance?

Regulating business/The two pillars of ethical regulation

TRANSFORMATION

Setting the scene/Daniel Schmand, Chair, ICC Banking Commission

Digital trade/Plotting the path to transformation

Digitising trade/Kicking it into higher gear

Conflicts in trade finance laws/Time to get your clauses in order

Digital forfaiting/Making distributed ledger tech real

ICC’s work on sustainable trade finance/Blueprint in the making

Voluntary Sustainability Standards/Schemes are spreading

SPOTLIGHT Global trade in 2028/Singapore’s digital trade finance journey

From the Field/How China finances its growing trade and globalisation

SINOSURE view/What’s driving China’s galloping growth in trade finance?

Acknowledgments 

Prepared by ICC Banking Commission