denotes premium content | Jan 9 2009 Trade & Forfaiting Review magazine archive
Volume 3 Issue 10
Features
ASIA FOCUS: Growth and surprises to come
Economic growth in Asia is steady, although it differs between certain countries. Kwok Kwok Chuen, Chief Economist for NE Asia, and Wong Yit Fan, Chief Economist for SE Asia, at Standard Chartered Bank look at the main markets - China, Philippines, Indonesia, Korea and others.
ASIA FOCUS: Korea battles through
Korea has traditionally been one of the most active trade markets in the world. Over the past few years it has offered importers, exporters and financial institutions multiple opportunities and challenges. Paul Simpson, Managing Director and Head of Global Bank Export Services at Deutsche Bank in New York, and Tae Sung Kim, Managing Director, Deutsche Bank Korea, elaborate on what the country holds as far as current and future opportunities. They also discuss the future challenges and the needs that will drive the country over the next several years.
ASIA FOCUS: Staying relevant and flexible
Godwin Chang is a Director and Head of Export Finance for Asia for SG Investment Bank, based in Hong Kong. He is responsible for the business line's origination and structuring function for the Asia Pacific region. Here, he looks at the role of export credit agencies in export finance transactions in China recently.
ASIAN FOCUS: Waiting for improvements
Asian forfaiting business is slow at the moment, with pricing well below acceptable levels and deal flow out of many countries restricted. Holger Kebernik, Head of Forfaiting, Asia, for Dresdner Bank in Singapore explains further.
COMMODITY FINANCE: Emerging risk cover
SG has developed a portfolio cover programme for commodities that involves repackaging trade finance risks based on emerging market oil receivables and transferring them to the capital markets. Pierre Palmieri and Marie-Aimée Boury from SG Commodities and Trade's brand new 'Alternative Finance' team explain further below.
CONFERENCE UPDATE: Electric event!
Representatives from the world of trade and export finance gathered in London in June and New York in July to attend two events hosted by e-mmerce (sister publication to Trade & Forfaiting Review) and events manager IBC/Informa. The events attracted around 100 delegates at each venue - from financial institutions, freight forwarders, customs and customs brokers, exporters and traders, law firms, credit insurers and consultancies.
COUNTRY FOCUS: TURKEY: Joining the Latin set?
If anything is constant in the world of trade finance it is that Turkey generates interest and deals. As ever, the market is continuing to hold the attention of most trade finance players, in a climate that is pretty flat and quiet compared to the beginning of the year. Rupert Sayer reports.
Cover & Payments table: Middle East & North Africa 3.10
ECA and private insurance cover for the region, plus other economic and social data.
CREDIT AGENCIES: ECGD: Power to the agency!
The results of the latest extensive report into the future status and role of UK export credit agency ECGD are out. The report should strengthen the agency's autonomy and cut a few red tapes. Amelia Muggeridge reports.
FORFAITING MARKETS: MARKET ROUND-UP:
Death of a market?
The world is flat according to the international forfaiting community. The secondary trading market is barely breathing and there could be a few casualties unless deal volumes pick up. Rupert Sayer gauges sentiment.
FORFAITING MARKETS: THE AMERICAS: Search for new investors
The Association of Forfaiters in the Americas held its third annual conference in May. Below, its president, Bruce Fields, picks out the salient points of discussion during the proceedings. Fields is also Head of Forfaiting at Standard Americas, Inc, a member of the Standard Bank Group.
LEGAL ISSUES: More care needed
It is difficult to pinpoint any exact trends on the legislative side of trade and export finance, according to legal experts. However, a number of high profile court cases have set important precedents recently, which are likely to have some impact on the way trade finance is structured and even conducted, as Justin Pugsley finds out.
RISK INSURANCE: Beating the frustration
Tony George, Head of the Non-Marine Insurance Business Group at City law firm Ince & Co in London, looks at the limitations with credit and political risk insurance in trade finance and the development of non-payment or contract frustration cover.
RISK WATCH: Middle East & North Africa 3.10
Afghanistan: Afghanistan has been devastated as a result of more than 20 years of war. It is the world’s biggest opium supplier, almost doubled its sale in 1999, and shows little sign of curbing production. The Taliban regime takes a 10% tax on opium production, implying that its commitment to ban opium poppy cultivation and heroin manufacture remains questionable. The country accounts for three quarters of world opium supplies.
UK EXPORT SURVEY: Late payers and exporters' prayers
Credit Insurer NCM, with The Institue of Export, who represents UK exporters, and Major Issue Consultancy, have just released the eighth annual survey on UK exporters. Credit insurance is less used, e-commerce is on the up and late payers are concentrated in Europe. Rupert Sayer was there to hear the results.
YOUR SAY: Not quite ready for the internet?
It seems every new B2B start-up feels the need to tell us they have the true global solution for businesses of all sizes anywhere in the world. This is nonsense. If these firms had been doing more research, other than reading the paper and getting starry eyed over the trillions of dollars to be had, they would know that half the world hasn't even mad a telephone call. Even B2B in the developed countries requires a long-term and almost scientific planning before 'the masses' are able to take true advantage of the web.
