ICC TRADE NOW

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 ICC Trade Now is the dedicated global campaign of the International Chamber of Commerce that will offer a platform connecting micro, small and medium-sized enterprises (MSMEs) to innovative trade finance solutions. Through tailored partnerships with cutting edge solution providers, ICC Trade Now will help scale up and leverage game-changing products and services to tackle the global trade finance gap in all its breadth and complexity.

International trade is a key driver of growth and innovation for MSMEs worldwide. Yet, over 45% of MSMEs see their requests for trade finance rejected and often struggle to find alternative sources of funding. Without adequate access to capital, MSMEs are effectively cut off from international markets and unable to grow their operations to meet international demand. Coupled with the effects of the COVID-19 pandemic, MSMEs desperately need short-term liquidity and access to international trade to survive the ongoing economic crisis and thrive once the worst effects of the crisis have subsided.

What are the objectives of ICC Trade Now?

  1. Scale up innovative trade finance solutions

The digitization of trade finance and technology solutions offer new opportunities for banks and non-bank financiers to serve MSMEs profitably. As the institutional representative of 45 million businesses in 100 countries, ICC is in a unique position to help scale up innovative trade finance solutions by connecting solution providers to our global network through tailored partnerships.

  1. Empower Small and Medium-sized Enterprises

If MSMEs are going to survive the ongoing economic crisis, they need tools and solutions that will enable them to Trade Now. The ICC Trade Now campaign will ensure that all MSMEs can harness the immense transformative power of digital technologies and access innovative trade finance solutions that will ultimately help them seize new business opportunities.

  1. Create new investment opportunities for financiers

ICC Trade Now will help unlock new investment opportunities for a broad set of financiers by leveraging digital tools and solutions that address traditional market frictions. Digital intermediation can help reduce transaction costs and increase the profitability of previously unserved funding requests, opening new material opportunities for financiers.

  1. Tackle the trade finance gap

While the trade finance gap was estimated at US$1.5 trillion pre-COVID-19, forecasts now show that the mismatch between demand for and supply of trade finance will reach at least $2.5 trillion by 2025. Left unaddressed, the growing trade finance gap will doom any prospects of long term economic recovery. The ICC Trade Now campaign will federate innovative solutions and leverage synergies between solutions to help bridge the trade finance gap.