THE uneven implementation of regulations such as Basel III, together with a continued surge in liquidity, has led to low funding costs for today's corporations, and in particular, those in the emerging markets.

"It's a great time to be a borrower, because there are a lot of options," said Isabelle Roux-Sharpe, head of export finance business units and projects at Societe Generale, and a discussion panellist at GTR Asia Trade Finance Week, on Tuesday. "Basel III is not translating into (borrowing) cost."

Ms Roux-Sharpe noted high pressure on banks to offer export financing at attractive rates that were previously reserved for clients with top credit ratings.