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HSBC BANK ARMENIA EXPANDING ARMENIAN COMPANIES' EXPERIENCE IN INTERNATIONAL TRADE
YEREVAN, December 12. /ARKA/. HSBC Bank Armenia, along with Italy's
embassy in Armenia, is conducting today in Yerevan the 13th workshop
of its Trade Finance Academy. HSBC Bank Armenia CEO Thies Clemenz
said many companies today get to choose between opportunities to
expand their presence at their local market or to enter international
market and to face organizational, financial and cultural challenges
in trade. At this very stage, he said, they will surely come across
certain difficulties, such as differences between legal systems and
trade documents as well as problems related to fluctuations in foreign
exchange rates. Nevertheless, not only Armenian business people face
legislative and organizational problems - insufficient experience
may create obstacles to any company, and therefore HSBC Bank Armenia
conducts such workshops, Clemenz said. In his words, the information
necessary for doing business outside of Armenia will be provided
to the representatives of organizations who are taking part in the
workshop. Clemenz said that this event will be useful for Armenian
business people and will contribute to development of economic and
trade relations between Armenia and Italy. He also said that HSBC is
topping the Leaders in Trade 2014 ranking in Global Trade Review's
trade finance section, since the majority of clients voted for HSBC,
expressing their confidence in it. Italian Vice-Ambassador to Armenia
Maurizio Crociatelli, stressing the importance of such initiatives,
said that trade turnover between Italy and Armenia is growing
dynamically. Referring to the latest data, he said that trade between
the two countries amounted to $161.5 million in Jan-Oct 2014. Italy is
Armenia's seventh biggest trade partner. Crociatelli said that Italy
provides instruments to its entrepreneurs for developing relations
with other countries, including Armenia, since Italy doesn't consider
it as a risky country. Head of Commercial Banking Department at HSBC
Bank Armenia Aram Pinajyan, on his side, said that representatives
of 300 companies have attended the workshops since the HSBC Bank
Armenia launched its trade academy in 2010. He said the number of the
companies preferring no-risk trade financing instruments is growing
and their choice has favorable impacts on these companies' success.
Initiators of the academy's activities are HSBC Bank Armenia
and the SME Development National Center of Armenia. During the
workshops important topics such as trade financing, risk mitigation,
cost-effective transaction processing are covered and aimed to help
local companies develop their own capabilities and succeed in their
overseas business ventures. HSBC Bank Armenia CJSC, a member of
HSBC Bank plc, was registered on September 25, 1995. HSBC Europe BV
holds 70% of the bank's shares, and the remaining 30% belong to Wings
Establishment. In January 2009, HSBC Bank Armenia became a member of
NASDAQ OMX Armenia stock exchange. The bank's assets totaled AMD 261.3
billion in early October 2014, its liabilities AMD 214.5 billion and
credit investments about AMD 171.5 billion. Its capital amounted to
about AMD 46.8 billion. ($1 - AMD 459.09). ---0----
http://arka.am/en/news/business/hsbc_bank_armenia_expanding_armenian_companies_exp erience_in_international_trade_/#sthash.fjnCxoRK.dpuf
From: A. Papazian
YEREVAN, December 12. /ARKA/. HSBC Bank Armenia, along with Italy's
embassy in Armenia, is conducting today in Yerevan the 13th workshop
of its Trade Finance Academy. HSBC Bank Armenia CEO Thies Clemenz
said many companies today get to choose between opportunities to
expand their presence at their local market or to enter international
market and to face organizational, financial and cultural challenges
in trade. At this very stage, he said, they will surely come across
certain difficulties, such as differences between legal systems and
trade documents as well as problems related to fluctuations in foreign
exchange rates. Nevertheless, not only Armenian business people face
legislative and organizational problems - insufficient experience
may create obstacles to any company, and therefore HSBC Bank Armenia
conducts such workshops, Clemenz said. In his words, the information
necessary for doing business outside of Armenia will be provided
to the representatives of organizations who are taking part in the
workshop. Clemenz said that this event will be useful for Armenian
business people and will contribute to development of economic and
trade relations between Armenia and Italy. He also said that HSBC is
topping the Leaders in Trade 2014 ranking in Global Trade Review's
trade finance section, since the majority of clients voted for HSBC,
expressing their confidence in it. Italian Vice-Ambassador to Armenia
Maurizio Crociatelli, stressing the importance of such initiatives,
said that trade turnover between Italy and Armenia is growing
dynamically. Referring to the latest data, he said that trade between
the two countries amounted to $161.5 million in Jan-Oct 2014. Italy is
Armenia's seventh biggest trade partner. Crociatelli said that Italy
provides instruments to its entrepreneurs for developing relations
with other countries, including Armenia, since Italy doesn't consider
it as a risky country. Head of Commercial Banking Department at HSBC
Bank Armenia Aram Pinajyan, on his side, said that representatives
of 300 companies have attended the workshops since the HSBC Bank
Armenia launched its trade academy in 2010. He said the number of the
companies preferring no-risk trade financing instruments is growing
and their choice has favorable impacts on these companies' success.
Initiators of the academy's activities are HSBC Bank Armenia
and the SME Development National Center of Armenia. During the
workshops important topics such as trade financing, risk mitigation,
cost-effective transaction processing are covered and aimed to help
local companies develop their own capabilities and succeed in their
overseas business ventures. HSBC Bank Armenia CJSC, a member of
HSBC Bank plc, was registered on September 25, 1995. HSBC Europe BV
holds 70% of the bank's shares, and the remaining 30% belong to Wings
Establishment. In January 2009, HSBC Bank Armenia became a member of
NASDAQ OMX Armenia stock exchange. The bank's assets totaled AMD 261.3
billion in early October 2014, its liabilities AMD 214.5 billion and
credit investments about AMD 171.5 billion. Its capital amounted to
about AMD 46.8 billion. ($1 - AMD 459.09). ---0----
http://arka.am/en/news/business/hsbc_bank_armenia_expanding_armenian_companies_exp erience_in_international_trade_/#sthash.fjnCxoRK.dpuf
From: A. Papazian