'Understanding trade risks to meet global challenges':

TFAB holds seminar on 'international trade'

A full day seminar organized by the Trade Finance Association of Bankers (TFAB) on "Understanding trade risks to meet global challenges" was held at the Galadari Hotel recently. The seminar was open to a wide spectrum of participants such as importers, exporters, bankers, lawyers, shipping and insurance industry professionals etc. It was a full gathering with about 180 participants.

Keynote speaker Citibank Colombo Country Head and Chief Executive Officer Glen Rase making his presentation and a section of the participants.

The keynote speaker, Citibank Colombo, Country Head and Chief Executive Officer, Glen Rase, in his address said that the world should be considered in three broad categories of countries - the emerging industrial powers such as China and India, commodity suppliers such as Australia, many countries in Africa and Latin America and the Developed democratic welfare states, like the EU, US and Japan.

The emerging industrial powers and commodity suppliers have done well during the financial crisis. By contrast the welfare states have done very poorly because they have built up enormous debts in an effort to support public entitlements. Should the Eurozone fail to deal effectively with their problems, Europe, and most of the rest of the world, could easily experience a sharp contraction.

The presenters, specialists in their fields and with wide experience were, Sampath Bank Consultant Parama Dharmawardene, McLarens Shipping Ltd General Manager Anoma Ranasinghe, AVIVA NDB Insurance Assistant General Manager Tanuj Edward and Peoples Bank Senior Deputy General Manager Sabry Ibrahim and Hatton National Bank Assistant General Manager-Trade Services Nilam U Jumat. The moderator was Senior Banking Consultant, Former Deputy General Manager - Bank of Ceylon A.Kathiravelupillai.

The speakers covered varied areas in international trade of much value such as case studies in international trade, mitigation of FOREX and payment risks, shipping and insurance.

The participants were awarded certificates of attendance.

In a new development from this year, members of the Institute of Bankers of Sri Lanka (IBSL) are eligible to earn Continuous Professional Development (CPD) points by participating in Seminars organized by the Trade Finance Association of Bankers.

From the feedback received the participants had benefited very much from the presentations made especially as the topics co-related to the work they are involved in. Several requests were made to structure this seminar for a two day session.

The panel discussions which followed the presentation were very interactive and included Commercial Bank of Ceylon Deputy General Manager International, Jegan Durairatnam who added much value to the discussion. The participants were able to clarify many technical issues relating to International Trade practices.

The President of the Association Nilam Jumat said that the Trade Finance Association of Bankers, which was inaugurated in 1997, has from inception been actively engaged in imparting knowledge and the necessary skills to its members by conducting seminars, lectures, discussions, workshops etc. on a wide range of topics relating to international trade. Educating the Sri Lankan importers and exporters has also been an objective of the Association to assist them to keep abreast of the changes that are taking place in the industry.

The seminar concluded with the delivery of the vote of thanks by the TFAB Secretary General Manjula Gunawardena.