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2 June 2020 Ahead of the launch of the International Chamber of Commerce’s (ICC) Global Survey on Trade Finance later this month, BNY Mellon’s Global Head of Trade Finance Product and Portfolio Management, Joon Kim, explains how banks are showcasing their resilience throughout the COVID-19 pandemic, in his guest blog for the world business organization. Joon Kim, Global Head of Trade Finance Product and Portfolio Management, BNY Mellon Treasury Services As industries go, trade is not typically known for being nimble. Yet, the unprecedented circumstances of the COVID-19 pandemic are forcing the hand of those in global trade, and

28 May 2020 ICC Chair Paul Polman addressed a high-level United Nations event on financing for development today, underscoring the business imperative to ensure universal access to COVID-19 supplies and continued fiscal interventions to protect lives and livelihoods. Convened by UN Secretary-General Antonio Guterres, Prime Minister of Canada Justin Trudeau and Prime Minister of Jamaica Andrew Holness, the virtual High-Level Event on Financing for Development in the Era of COVID-19 and Beyond sought to advance concrete solutions to the development emergency caused by the COVID-19 pandemic. Speaking on behalf of 45 million businesses as Chair of the International Chamber of Commerce,

27 May 2020 As business associations see an uptick in fake documentation to obscure the origin of counterfeit products due to the global health crisis, Swiss, Italian and French chambers of commerce are the latest members to enter the International Certificate of Origin (CO) Accreditation Chain managed by ICC’s World Chamber Federation (WCF). International Certificate of Origin Accreditation Chain – Official mark The approval was made during an ICC WCF International CO Accreditation Committee meeting, which was held virtually on 19 May 2020. With their newly established status as accredited members of the International CO Accreditation Chain, 70 French chambers, 18 Swiss chambers and the Chamber

25 May 2020 ICC has today launched the ICC AOKpass Declaration on COVID-19 Health Data Protection. Launched on General Data Protection Regulation (GDPR) Day – in celebration of the landmark data privacy protection laws in the European Union – the Declaration signals a bold vision for a post-COVID-19 world, working together for recovery, prosperity and the upholding of health data protection as a basic human right. The Declaration expressly supports placing strict health data privacy at the core of COVID-19 compliance standards and verification systems, vital for recovery efforts. ICC is leading the Declaration as the world’s largest not-for-profit business institution,

22 May 2020 ICC has today announced its support for a multistakeholder initiative calling on policymakers, regulators and remittance services providers to improve migrants’ access to remittance services and reduce transfer costs during the ongoing novel coronavirus (COVID-19) pandemic. Led by the Governments of Switzerland and the United Kingdom, the call to action, Remittances in Crisis – How to Keep Them Flowing, is supported by the United Nations Capital Development Fund (UNCDF) and the United Nations Development Programme (UNDP), as well as the World Bank, the International Organization of Migration (IOM), the International Association of Money Transfer Networks (IAMTN) and the Global

20 May 2020 ICC has warned that proactive government interventions will be needed to ensure the market can power an economic rebound in the wake of the COVID-19 crisis. ICC estimates a possible US$ 5 trillion of trade credit will be needed to enable a rapid recovery from the COVID-19 crisis Business body warns that trade financing gaps risk hampering a global recovery – impacting the survival chances of small businesses Despite early scaling of support measures in response to COVID-19, further public backing for trade credit needed to prime conditions for a trade-driven economic rebound In a new paper issued today, ICC

12 May 2020 ICC – the institutional representative of over 45 million businesses – has called for action to tailor financial support measures to the needs of micro-, small- and medium-sized enterprises (MSMEs) in the context of the COVID-19 pandemic. In an open letter to finance ministers published today, ICC Secretary General John W.H. Denton AO said that without adequate and immediate fiscal interventions a significant proportion of MSMEs may be unable to weather the COVID-19 crisis – with potential systemic implications for employment and the functioning of global supply chains. Highlighting the crucial role that MSMEs play in the functioning

7 May 2020 ICC has issued 10 recommendations for how governments can use trade to help micro-, small- and medium-sized businesses (MSMEs) weather the COVID-19 storm. Underscoring the vital role can trade play in helping small business stay afloat and driving a rapid economic recovery, the 10 ways for governments to use trade to Save our SMEs statement calls on governments to take urgent action to Save Our SMEs. It comprises recommendations for an immediate response to limit the damage caused by the COVID-19 pandemic and short- to mid-term recommendations to mitigate further damage and level the trading playing field to enable MSMEs to

6 May 2020 ICC Trade Register reflects on the impact of COVID-19 on global trade, while affirming trade finance’s decade-long low-risk profile.  Highlights In 2019, global trade flows declined 2% from US$ 18.5 trillion to US$ 18.1 trillion, underpinning a trade finance revenue pool of US$ 46 billion. ICC Trade Register data confirms default rates from 2008-2018 are low across all products and regions surveyed. The report can be used as a reference point for policymakers when considering how to support trade and trade financing during, and after, the COVID-19 crisis. ICC has released its 2019 Trade Register Report, revealing COVID-19’s

6 May 2020 ICC has partnered with International SOS, the world’s largest medical and security services firm, to launch the new ICC AOKpass mobile app, to provide trusted recognition of individuals’ COVID-19 compliance status. Co-developed by Singapore-based startups AOKpass and Perlin, the app will allow consumers, workers and businesses to more safely and quickly resume commercial activity in the context of the COVID-19 pandemic. At all times, users maintain full control over their medical information, which is stored securely and privately only on their device. Development of ICC AOKpass comes as many governments and businesses explore how to allow immune and low-risk individuals to