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

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DIFC, UAE - Aug. 14, 2019 - PRLog -- 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

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."

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."
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