This White Paper – a joint initiative of the Supply Chain and Transport industries and the System Initiative on Shaping the Future of International Trade and Investment – provides a first look at the narrow topic of trade and supply chain finance, including a snapshot of the status of technological developments.
Concrete examples indicate that the technologies could narrow the current the trade finance gap of $1.5-trillion, representing roughly 10% of global merchandise trade volumes. International trade and global value chains have been critical for both the wealth of nations and the reduction of geopolitical tensions. Yet, still more remains to be done. Archaic processes pose a significant obstacle for small and medium-sized enterprises (SMEs) and trade with emerging markets.
Transforming paper-based documentation into electronic formats and applying smart tools and technologies help to reduce trade barriers and improve processing times at borders, particularly for small businesses and companies in higher risk developing countries.
Report by the World Economic Forum