The deadline for participating in the International Chamber of Commerce (ICC)'s Banking Commission's flagship trade finance survey is looming.

The upcoming Global Survey on Trade Finance, to be released in April 2018, will be the 10th edition of the survey that aims to inform trade finance practitioners of industry trends and developments and allow the wider economic community to gauge global trade expectations.

L/C findings

Last year's survey found that letters of credit (L/Cs) will continue to support 10 per cent of global merchandise trade.

But while they will continue to feature prominently in trade finance, the report suggested that banks around the world are looking beyond L/Cs at new offerings and technologies to supplement or replace them.

New approach

Previously known as "Rethinking Trade & Finance", the ICC says the 2018 report takes a more dynamic, forward-looking and solution-oriented approach under the new title, "Global trade-securing future growth".

To participate in the ICC Banking Commission's Global Survey on Trade Finance, go to the ICC web site and answer the questions by 16 February 2018.

This article represents the views of the author and not necessarily those of the ICC or Coastline Solutions.