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OVER 90% of senior leaders in global companies believe that globalisation needs to be reset to make it more equitable so that entrepreneurs and small and medium enterprises (SMEs) have a chance to participate in global supply chains.

About 80% of corporates recognise that partnering with banks, to promote access to finance for robust and inclusive supply chains, is a key priority for their five to 10 years internationalisation or cross-border expansion strategy.

Global trade is predicted to grow by 70% to almost US$30 trillion (RM126 trillion) by 2030. Thirteen markets across Asia, Africa and the Middle East will shape the future and drive much of this growth.

This was revealed in Standard Chartered’s “Future of trade 2030: Trends and markets to watch’’ report where 500 senior leaders’ views were sought.

Malaysia will be a key driver of this global trade growth.

About 43% of global corporates currently plan to source or manufacture in Malaysia within the next five to 10 years, according to the report.

India, China, and Singapore will be the key corridors for Malaysia from 2020 to 2030.

The five trends which will shape globalisation are wider adoption of sustainable and fair-trade practices; more inclusive trade; greater risk diversification; digitisation; and an accelerated shift towards high-growth emerging markets, according to the report.CLICK TO ENLARGE



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