Standard Chartered - Future of Trade 2023

The report discusses the opportunities and challenges of global trade in 2030, using both qualitative and quantitative analysis from internal and external sources. The executive summary highlights the potential for businesses to expand and thrive in high-growth corridors, with a more diverse spectrum of critical participants driving flows. However, the report also notes that much will still depend upon partnerships between governments, businesses, and multilaterals, with policy incentives for businesses to enhance their ESG compliance and interoperability between markets to drive up the adoption of new technologies. The report suggests that incentives through finance and policy can be game-changing and help bridge the trade finance gap which currently stands at a massive USD2 trillion. The report also discusses the potential for tech-enabled banking solutions to improve access and efficiency in global trade, but notes that challenges such as interoperability and resource constraints currently limit their adoption. Overall, the report aims to help businesses identify opportunities for future growth and build greater resilience in the face of rising geopolitical tensions.