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The American-Uzbekistan Chamber of Commerce (AUCC) seeks to promote trade and investment ties, cultural exchanges and bonds of friendship between the United States of America and the Republic of Uzbekistan. In performing these functions, the AUCC places primary emphasis on serving the needs and interests of its members.
Interview with AUCC Chairperson Carolyn Lamm Before 2012 Uzbekistan-US Annual Business Forum
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Promoting Trade Finance in Asia: 12 Things to Know
- The trade finance gap - the difference between the trade financing needed versus what is being provided - is estimated at $1.6 trillion worldwide.
- An estimated 40% of trade finance proposals worldwide come from Asia, which has the world's highest rejection rate.
- Nearly half of the world's trade finance gap, or about $692 billion, is in developing countries in Asia, including India and the People's Republic of China.
- More than half (56%) of trade finance proposals by small and medium-sized enterprises are rejected.
- About a third (34%) of trade finance proposals by large corporations are rejected while only 10% of proposals by multinational corporations face rejection.
- Trade finance proposals are rejected generally because they are seen as too risky, or because of regulatory constraints.
- Small businesses report that 25% more trade finance would enable them to hire 20% more people.
- Woman-owned firms face higher than average trade finance rejection rates.
- An estimated 37% of small businesses in Asia that are rejected for formal trade finance turn to informal sources of financing, such as personal loans.
- Financial technology, or FinTech, can be used for peer-to-peer lending and crowdfunding but 70% of businesses indicated they are unfamiliar with digital finance.
- The Asian Development Bank's Trade Finance Program supports about 2,000 transactions a year valued at $3.5 billion.
- More than 75% of the transactions supported by ADB are for small- and medium- sized enterprises.