2019年亚太贸易便利化报告（英文版）_104页_6mb

ASIA-PACIFIC TRADE FACILITATION REPORT 2019: BRIDGING TRADE FINANCE GAPS THROUGH TECHNOLOGY

Core Content

The Asia-Pacific Trade Facilitation Report 2019 focuses on the role of technology in bridging trade finance gaps, emphasizing the importance of digitalization and automation to enhance trade efficiency and inclusiveness. The report highlights the challenges faced by small and medium-sized enterprises (SMEs), women-owned businesses, and agricultural sectors in accessing trade finance and suggests policy measures to address these issues.

Main Points

1. Trade Costs and Trade Facilitation in Asia and the Pacific

• Trade costs remain high in the region, though they have declined modestly.
• Trade costs vary significantly across subregions:
  • Pacific island developing economies have the highest trade costs.
  • East Asia has the lowest trade costs, followed by ASEAN middle-income members.
• Digital trade facilitation has shown significant progress, with the average implementation rate of trade facilitation measures increasing by 10 percentage points between 2017 and 2019, reaching nearly 60%.
• Russia and Central Asia made the most progress, while Pacific islands lagged behind.

2. Impact of Trade Facilitation on Trade Costs

• Trade facilitation measures, particularly digital and paperless trade, can significantly reduce trade costs.
• A partial implementation of WTO TFA measures can reduce trade costs by 5%, while full implementation can reduce them by 9%.
• The WTO TFA+ scenario, which includes digital trade facilitation, can reduce trade costs by over 16%.
• Maritime connectivity and access to credit are also critical in reducing trade costs.

3. Trade Finance Market Overview

• Trade finance is essential for supporting international trade and enabling inclusive growth.
• 40% of global goods trade is supported by bank-intermediated trade finance, while the remaining 60% uses interfirm trade credit.
• SMEs face higher rejection rates in trade finance applications due to higher transaction and information costs.
• Banks often reject SMEs due to anti-money laundering (AML) and know-your-customer (KYC) requirements, as well as low credit ratings.

4. Key Challenges in Trade Finance

• Process inefficiency: Paper-based transactions lead to delays and errors.
• Regulatory requirements: Due diligence and compliance raise costs.
• Information asymmetry: Banks lack sufficient information on SMEs and women-owned firms.

5. Opportunities for Technology in Trade Finance

• Digitalization and automation can reduce transaction costs and human error.
• Blockchain and artificial intelligence (AI) can improve due diligence, payment processing, and risk assessment.
• E-commerce platforms and cloud-based invoicing enable direct transactions with reduced costs.
• Technology can help SMEs access trade finance by streamlining KYC processes and providing alternative credit data.

6. Policy Considerations

• Promote technology adoption through public-private partnerships.
• Support SMEs and women-owned businesses with specific trade finance programs.
• Harmonize regulations to facilitate digital trade finance.
• Strengthen export credit agencies (ECAs) to support unprofitable or high-risk trade finance activities.
• Encourage regional cooperation to address unilateral protectionism and enhance trade efficiency.

Key Information

• Global trade finance gap: Estimated at $1.4 trillion–$1.6 trillion, or 8–10% of global goods trade.
• Rejected applications: About half of global trade finance proposals are rejected, with Asia and the Pacific accounting for 40% of these rejections.
• Technology's role:
  • Reduces paper-based processes.
  • Enhances compliance checks.
  • Enables faster and more transparent transactions.
  • Helps SMEs access trade finance through digital platforms.

Conclusion

The report underscores the need for inclusive and holistic trade facilitation strategies that address SMEs, women, and agricultural sectors. It calls for greater regional cooperation, policy reforms, and technology adoption to bridge trade finance gaps and promote sustainable and inclusive trade growth in the Asia-Pacific region.