BNY Mellon’s Dominic Broom explains how banks are working together to bridge Asia’s trade finance gap in TradeReady

Asia is set to contribute 60% of the world’s economic growth in 2017, driven by growing external demand as well as domestic reforms. Yet, a recent Asian Development Bank (ADB) survey estimates that approximately US$600 billion worth of trade in the region is failing to secure the financing it needs – out of a total US$1.5 trillion of unmet demand worldwide.

Yet despite increasing regulatory challenges, banks are collaborating to help bridge Asia’s trade finance gap, Dominic Broom, Global Head of Trade Business Development, Treasury Services, BNY Mellon explains in TradeReady.

The full commentary article can be read here.

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