October 26, 2009

The Australian Chamber of Commerce and Industry (ACCI) has called for more facilitative policies towards trade finance for Australian exporters at the Trade 2020 Strategic Dialogue convened today by Austrade and CEDA in Sydney. ACCI Chief Executive Peter Anderson says the “critical role” trade finance can play in the global growth of Australian business needs greater responsiveness by banks and governments.

“We cannot emerge strongly from the global financial crisis unless accessible and affordable finance is available, especially when doing business in our region,” he says.ACCI has today outlined initiatives which will help facilitate trade financing.ACCI is Calling for more flexibility under the Basel II Requirements particularly as they relate to the one year maturity floor for trade finance.