TRADE FINANCE BETWEEN TRADITIONAL POLICIES AND DIGITALISATION IMPERATIVE

Abstract

Trade finance contributes to the development and facilitation of trade flows and can support increased the competitiveness of goods and services. This role is even more relevant in the context of the Covid-19 pandemic, when access to financing has become crucial for trade recovery. Against this background, the article investigates policies and techniques for trade finance under the impact of increasing competition, changes in the evolution of global value chains, tightening banking regulations in the field, increasing protectionism and the imperative of digitalisation. The results of the research reveal that traditional financing products are increasingly less used in favour of open account and the affirmation of new, emerging techniques. One imperative is the digitalisation of trade finance, which, in addition to opportunities, presents some risks and challenges that need to be correctly identified and managed.

Keywords

• trade finance
• traditional financing
• digitalisation
• banking regulations