GTR, the market leading independent information provider for the financial services industry, returned to New York City on June 12, 2013 for the North America Trade & Export Finance Conference.

The 9th annual conference in this long established series saw extensive discussion on the opportunities and challenges being posed to the region’s business leaders and financiers as increased emerging markets trade is sought to combat the economic stagnation being experienced by North America’s primary trade partners.

The conference opened with keynote speaker Joseph Lupton, J.P. Morgan’s Senior Global Economist, suggesting that the green shoots emerging across the regional economy point to the coming of a fully established recovery in 2014, while highlighting a domestic corporate sector predominantly characterised by good health and cash-rich balance sheets.

“Notwithstanding the ongoing economic recession, some US companies are enjoying robust business growth, in many cases by expanding their international sales,” added Gary Mendell, President of Meridian Finance Group on the sidelines of the event. “The US represents less than 25% of global GDP and less than 5% of world population, so it stands to reason that US companies may find more customers overseas than domestically. But global demand for credit is also on the rise, and therein lies the challenge for many US corporates, and their banks. This conference is a welcome and timely forum for trade finance players to compare notes and to share solutions for bringing international trade transactions to fruition.”

A mixture of top tier corporate and banking supply chain experts drew the distinction between supply chain financing as a key tool for the realisation of strategic initiatives rather than an initiative in itself, stressing the importance that companies establish supplier programmes in a manageable localised market before embarking on ambitious global programmes. Discussion on the high-growth export finance market brought the support being provided by US Exim into the spotlight, citing low volumes in comparison with other ECAs such as China’s Sinosure. Leading actors suggested that a level playing field across the global sector is potentially still two decades away, adding that the capital markets will play an increasingly significant role in the future of export financing.

The programme concluded with a lively panel of senior players from the Canadian market including representatives from Bombardier Aerospace, Scotiabank and CIBC citing the need for Canadian banks to lead their clients in ‘thinking globally’ to diversify export markets. The strengthening Canadian dollar also provided cause for debate, where it was argued that a short-term reduction in export volumes would be offset by increased competitiveness in the long run resulting from the necessity for Canadian companies to rely on factors other than price to win business in the global marketplace.

With over 140 senior industry actors from across the regional and international markets in attendance networking played a prominent role, where the day’s proceedings were concluded with an evening reception providing a more informal setting for continuation of the day’s discussions.