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The COVID-19 pandemic has and will continue to have major disruptive effects on supply chains. Companies of all sizes have adapted as supply and demand dynamics have shifted, borders and markets have opened and closed, and customers have changed purchasing patterns. Formidable logistical challenges deriving from constant fluctuations in volume and routing have been exacerbated by both the creation of new customs measures and adherence to old paper-based practices that do not fit the ‘new normal’ in which businesses must now operate. The maintenance of supply chains, customs and export compliance, and logistics is critical to address the pandemic, both to deliver essential goods—such as medicines and foods—and to keep economic activity flowing.
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Around 80% of world trade relies on trade finance—a market that has proven particularly vulnerable to previous financial shocks. Reduced access to reliable, adequate, and cost-effective sources of trade financing...
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ICC endorses no responsibility in this guidance paper which is aimed only at sharing practical views and guidance from experts in the management of Trade Finance transactions during this exceptional...
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ICC is calling on national governments to create a modern digital trade ecosystem by reforming laws to digitise trade documentation and align legal frameworks to the UNCITRAL Model Law on...
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