Paperless trade for UK businesses to boost growth

Will the banking sector notice an increase in the cost of trade finance instruments? Mr. Srinivas Koneru, our Triterras' Chairman & CEO sheds light on this with an explanation on how banks will be selective with funding, and ultimately impacting small to medium businesses. The EU Capital Requirements Regulation (CRR) seems to have notable impacts on EU banks.

Though India has introduced new export financing policies to fight inflation, current export financing policies are inefficient in keeping up with the rising costs of exports. Many export businesses have had to cut back on their operations or even close down altogether, leading to a decrease in foreign exchange reserves and an increase in the cost of imported goods.

Global trade and the facilitation of goods and services across supply chains is a driving force of economic development, allowing countries to integrate into the global economy, gain access to differentiated goods and services, and achieve higher standards of living. What is then clear, is that global trade must transform itself into an engine for sustainable development, contributing to increased action on climate and biodiversity at the international, sectoral, and enterprise levels.