At the ICC Banking Commission Meeting in Miami on the 5th April, Maria Fernanda Garza, Chair of ICC Mexico said that open account trading had become the ‘main form of trade finance’, and had ‘replacing traditional trade finance instruments, such as letters of credit and other short-term pre-shipment trade loans typically covered by banks.
Ms. Fernanda Garza, who provided the opening speech to the conference, also said ‘supply chains have become much more fragmented and dispersed with longer and wider-growing networks of small and medium-sized upstream and downstream enterprises around the world. And that ‘n this regard, new supply chain finance is an important opportunity area and a focal point of current competition.’
