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The novel coronavirus (COVID-19) pandemic is unprecedented health and economic crisis, affecting the lives and livelihoods of workers, as well as the continued operations of businesses globally. Micro-, small- and medium-sized enterprises (MSMEs) and their workers, as well as entrepreneurs and the self-employed, are among the hardest hit. It is imperative that urgent and decisive action is taken by all stakeholders to combat the economic repercussions of COVID-19 and safeguard the current and future functioning of the global economy.
The International Chamber of Commerce (ICC), the institutional representative of more than 45 million companies in over 100 countries, has launched a campaign to “Save Our SMEs” to (i) shine a spotlight on the devastating impact of COVID-19 on small businesses and their employees; (ii) ensure effective policy and fiscal responses at both the international and national levels; and (iii) provide resources and tools to small businesses to help them navigate the unprecedented economic shock unfolding before us.
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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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