|14 August, 2019

GCC set in the right direction to reach the center stage of global trade

In a recent report by World Bank, GCC's economic growth is projected to reach 3.2 percent in 2020 and stabilize to 2.7 percent in 2021 as compared to 2.1 percent in 2019

Sidh, Director, QnA International

Sidh, Director, QnA International

Dubai, United Arab Emirates: In a recent report by World Bank, GCC’s economic growth is projected to reach 3.2 percent in 2020 and stabilize to 2.7 percent in 2021 as compared to 2.1 percent in 2019. To facilitate the rising wave of economic progress and build on the immense success of the first edition, QnA International announces the 2nd Annual Gulf Trade Finance Summit 2019 taking place on 17th-18th September 2019 at Intercontinental Festival City - Dubai hosted under the theme – Disrupting Trade Finance - Beyond Borders.

According to a study, trade in the MENA region is expected to grow 131% over 2012 to 2026, faster than global trade, which is estimated to increase 86% over the same period. The Gulf Trade Finance Summit, an exclusive by-invitation Summit brings together over 200 top level attendees from regional Government and Regulatory Authorities, CFOs, Heads of Finance and Treasury from the biggest conglomerates and corporates in the region along with Banks, Financial Institutions and Trade Finance Service Providers under one roof to discuss the way forward in diversifying from a hydro-carbon based economy.

**Source HSBC

Relatively stable oil price has helped lift the outlook of the economy but the vision of the region remains moving away from the dependency on oil. With the strategic focus of achieving the region's vision of economic diversification, the premiere summit will entail the action plan to develop a pragmatic strategy and approach to achieve the same.  Due to the impetus and support from the government, UAE's market is one of the world's most dynamic markets worldwide, placed among the 16 largest exporters and 20 largest importers of commodities (in 2017)

Speaking about GCC being one of the strongest & key markets for trade finance, Graham Bright, Head - Compliance and Operations, Euro Exim Bank commented "With strategic importance to exporters, the region is at the center of fast-growing trade flows between Europe, Africa, India and China, with that being said, the opportunities for the region are significant as are the challenges to supply the demands of an environment with strong regulation, legal frameworks, financial capacity, trust, and efficient supply chains, making it easier than ever to do cross border business economically and effectively. With access to over 3 billion people - 40% of the world's population within a 4-hour flight, GCC sovereign wealth funds amongst the world's biggest investors and significant building projects make the region a trade and financial powerhouse."

Credit demand in the UAE for the September 2019 quarter is expected to improve, driven by increase in appetite for both business loans, while credit standards are projected for a further tightening, according to the latest Credit Sentiment Survey of the UAE Central Bank. Commenting on the increase in trade credit as an indicator of the recovery of the market, Ubaldo Tambini, Managing Director, CRIF – Dun & Bradstreet, CRIF solutions said, “We are very excited to be a part of the Gulf Trade Finance Summit for the second time as it provides an excellent opportunity for businesses, thought leaders and regulators to network and have an open dialogue regarding the immediate challenges and awareness of the global trends and financial disruptions.”

Speaking about the importance of trade finance business platforms, Sidh NC, Director, QnA international, commented  ‘The GTF summit brings together GCC thought leaders and financial experts from the most forward-thinking corporates, banks and financial institutions from the region to enable thought provoking trade finance conversations through its informative conference sessions, that are relevant to the current situation and derive concrete solutions for some of the most crucial regional trade finance concerns from challenges faced in international trade, risk management, managing account receivables, open account transaction, liquidity management, financial structuring, Fintech, Blockchain, encouragement of SMEs and a lot more’

The Gulf Trade Finance Summit will take place on 17th-18th September 2019 at Intercontinental Festival City – Dubai, UAE

Organiser: About QNA International

QNA International creates and delivers business learning and development exchange platforms through B2B conferences, bespoke events and trainings. The company also has an expertise in outsourced sponsorship sales and key account management. www.qnainternational.com 

For more information, high-res images or interviews, contact:

Press Contact:
Dimple Menezes
dimple@yardstick-marketing.com 
Tel: +971 55 612 6298
Manoranjani Sampath
manoranjani@yardstick-marketing.com
Tel: +971 55 235 6386
Yardstick Public Relations
 PO Box - 116125, Dubai, United Arab Emirates                                                              
Tel: +971 4 351 8584

© Press Release 2019

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.

More From Press Releases