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The critical role of Trade Finance in maintaining Trade Flows as Covid-19 continues to affect business sentiment

PBEC and its members supports the Co-Chairs of the ICC latest statement and advocates their recommendations to Trade Ministers at the G20. Leaders need to keep the issue of support by any means on their agendas when they convene on November 21st 2020 at the G20 meeting. This will be vital to the survival of the SME sector in many countries and revival of the world economy in a Covid-19 recovery.

“PBEC fully supports the International Chamber of Commerce letters & recommendations to the G-20 trade finance ministers ahead of their summit in November. We are seeing perhaps only the start of the true devastation for the SME/Start-up sectors across APAC due to this ongoing Covid-19 crisis and travel restrictions still imposed. The role Governments play now and what agreements can be reached by consensus in the coming weeks and months ahead is going to be so vital to help minimize the lasting damage otherwise predicted that will affect so many member states within APEC. Non-Government Organizations & Think Tanks like ICC & PBEC are playing their vital role in facilitating regular engagement & dialogue between business leaders and Government. These platforms help provide meaningful insights to Governments in order for them to make informed decisions and reach such a consensus, at a time accurate data and transparent news & information is highly valued and is the order of the day.” Commented PBEC Chairman Andrew Weir MBE.

Click here to download the ATF Letter to G20 Leaders

Click here to download the ICC Recommendations to G20

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