Bridging the trade finance gap to maximize trade opportunities

By BNY Mellon Treasury Services’s Joon Kim, Global Head of Trade Product & Portfolio Management; Dino Sani, Head of Relationship Management, Latin America; and Arnon Goldstein, Head of Relationship Management, Asia Pacific. The global trade finance gap remains a significant impediment to global trade. Standing at US$1.5 trillion, it equates to approximately 9.4% of the US$16 trillion shipped across international borders annually[1]. This is an astonishing figure, representing massive volumes of lost trade opportunities and unfulfilled business growth. While the gap itself is not a new phenomenon, it has snowballed in recent years, fuelled indirectly by heightened compliance requirements – including Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations – introduced in the wake of the global financial crisis. […]