Trade Finance Global Associates with Trade4MSMEs
As per the latest news, Trade Finance Global (TFG) has collaborated with Trade4SMSMEs in a bid to deliver micro, small and medium-sized enterprises (MSMEs) with appropriate resources to boost their growth of businesses.
Editor at TFG, Deepesh Patel stated, “We are glad to partner with WTO’s Trade4MSMEs drive, upheld by the likes of the United Nations Commission on International Trade Law (UNCITRAL), the International Chamber of Commerce (ICC), World Customs Organization (WCO), and UK Aid, to support MSMEs exploring the intricate areas of trade and trade finance.”
Today, 95% of the organizations across the world are MSMEs, representing 60% of the world’s total employment according to the World Trade Organization (WTO).
Apart from their immense global presence, MSMEs struggle with a variety of issues when participating in International trade. This is why SMEs prefer trade finance.
Deepesh Patel added, “The latest research demonstrates that MSMEs have been hardest hit by present geopolitical conditions such as the Russia-Ukraine conflict, and COVID-19.”
“Due to its counter-cyclical nature, trade plays a vital role in the recovery of MSMEs, yet more education and data exchange are required.”
More extensive discussion and data access can help MSMEs to overcome recent trends in supply chain disruptions such as sourcing, logistics, and international sales.
The Trade4MSMEs platform includes strategies & initiatives for potential MSME traders that link to appropriate resources for businesses to get started. It also includes a section for trade policymakers to figure out more about what is being done in the MSME global trade policy space.
Further, both the MSME and policymakers sections contain suitable resources that can be searched by topic and region.
A spokesperson for Trade4MSMEs explained, “International markets show opportunities for MSMEs.”
“Trade4MSMEs focuses on delivering small businesses with the tools and resources that would support their participation in global trade, improve their capabilities, and promote their growth.”