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Doing trade finance in the Middle East
23 November 2009
In the context of global economic and financial turmoil, trade and trade finance have reclaimed their rightful place as the economic lifeblood of the Gulf region.
Oliver O’Connell reports.
Read more:
MENA trade finance
Middle East Trade finance
The headline-grabbing effects of the downturn on the Gulf, with a particular focus on the property market crash in Dubai, the Saudi banking crisis, and a general shortage of dollar liquidity have dented confidence in the region. But at the same time they have also acted to distract from the vital underlying role that trade plays in sustaining these economies and leading them back to sustained growth.
The Middle East faces both the full impact of the crisis stemming from well-documented domestic failures and the indirect impact of global problems, as well as being able to take advantage of its geographic position between Europe, Asia and Africa.
Importers and exporters are able to utilise the region’s infrastructure and historic levels of trans-shipment to stay afloat. This is a market that is both emerging and developed at the same time as far as international trade is concerned.
Asia and...
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