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8th Annual Innovations in Trade & Export Finance Conference
The 8th Annual Innovations in Trade & Export Finance Conference, held in New York at the Westin at Time Square Hotel, brought together the North American trade finance community to discuss the key issues faced by this increasingly important sector.
As emerging markets take a greater focus on the global stage and the questions surrounding the functionality of ‘established’ markets remain unanswered, the conference was well timed to act as a meeting point for international decision makers to tackle wide ranging issues, such as the impact of volatile global markets on North American trade flows, how corporates are navigating regional and global challenges, the availability of support mechanisms for SMEs, current risk appetites of trade financiers and the role of export finance and ECAs in providing liquidity for North American exports.
The keynote address was delivered by Mr. James Glassman, Managing Director & Head Economist at J.P. Morgan, who outlined the impact of both the eurozone crisis and the importance of emerging markets for North America organisations looking to realign their operational priorities ahead of changing global dynamics.
There was a prominent focus throughout the day on corporate perspectives, with Boeing, Bombardier, Glencore and GE Capital giving their unique insights into supply chain management and funding requirements – as well as what they really wanted from their banks. This was juxtaposed with a dedicated afternoon stream for the emerging markets, with Expixp giving a case study on the opportunities Africa holds as an export destination, ANZ Americas highlighting the developments within Asia-Americas trade flows as well as a highly experienced panel discussion on the intra-regional trade across the Americas – which included Standard Chartered, Ace Global Markets, Bradesco New York, Hughes Hubbard & Reed and the developmental institutions, IFC and IADB.
As with all Exporta events, networking was a key theme throughout the day. The event provided the ideal setting for peer-to-peer networking amongst key decision makers, with new business relationships being formed as well as the chance to meet old friends.
The conference welcomed support by J.P. Morgan, Bolero, Pinnacle Solutions, Codix, as well as institutional support from the IFC, AIDB, ATFA, FITA and Berne Union.
North American trade leaders meet in NYC to discuss emerging opportunities
Exporta Group, the market leading independent information provider for the financial services industry, returned to New York City on June 12, 2013 for the North America Trade & Export Finance Conference.
The 9th annual conference in this long established series saw extensive discussion on the opportunities and challenges being posed to the region’s business leaders and financiers as increased emerging markets trade is sought to combat the economic stagnation being experienced by North America’s primary trade partners.
The conference opened with keynote speaker Joseph Lupton, J.P. Morgan’s Senior Global Economist, suggesting that the green shoots emerging across the regional economy point to the coming of a fully established recovery in 2014, while highlighting a domestic corporate sector predominantly characterised by good health and cash-rich balance sheets.
“Notwithstanding the ongoing economic recession, some US companies are enjoying robust business growth, in many cases by expanding their international sales,” added Gary Mendell, President of Meridian Finance Group on the sidelines of the event. “The US represents less than 25% of global GDP and less than 5% of world population, so it stands to reason that US companies may find more customers overseas than domestically. But global demand for credit is also on the rise, and therein lies the challenge for many US corporates, and their banks. This conference is a welcome and timely forum for trade finance players to compare notes and to share solutions for bringing international trade transactions to fruition.”
A mixture of top tier corporate and banking supply chain experts drew the distinction between supply chain financing as a key tool for the realisation of strategic initiatives rather than an initiative in itself, stressing the importance that companies establish supplier programmes in a manageable localised market before embarking on ambitious global programmes. Discussion on the high-growth export finance market brought the support being provided by US Exim into the spotlight, citing low volumes in comparison with other ECAs such as China’s Sinosure. Key market players suggested that a level playing field across the global sector is potentially still two decades away, adding that the capital markets will play an increasingly significant role in the future of export financing.
The programme concluded with a lively panel of senior players from the Canadian market including representatives from Bombardier Aerospace, Scotiabank and CIBC citing the need Canadian banks to leading their clients in ‘thinking globally’ to diversify export markets. The strengthening Canadian dollar also provided cause for debate, where it was argued that a short-term reduction in export volumes would be offset by increased competitiveness in the long run resulting from the necessity for Canadian companies to rely on factors other than price to win business in the global marketplace.
With over 140 senior industry actors from across the regional and international markets in attendance networking played a prominent role, where the day’s proceedings were concluded with an evening reception providing a more informal setting for continuation of the day’s discussions.
The Westin270 West 43rd Street at Eighth
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