Friday, November 23 2012 18:34

ArmInfo. Armenia participates in International Exchange event commenced last week in Dubai, organized by HSBC Commercial Banking, the press service of HSBC Bank Armenia told ArmInfo.

HSBC Bank Armenia customer BARSIS LLC was among leading international businesses to arrive in Dubai to discuss the possibilities of establishing new trade connections with one of the world's fastest growing markets, to share best business practice and exchange opinions on global economic developments and opportunities. The HSBC International Exchange event was focused on the UAE's diversified economy, oil and gas services, construction and infrastructure, consumer goods and retail sectors.

BARSIS LLC (cosmetics and perfumes importer) has been chosen by HSBC Commercial Banking in Europe as a fast growing company well-placed to expand in the United Arab Emirates.

"The UAE has unique economy that combines both enormous wealth and major oil production with dynamism of an open export oriented economy. HSBC Armenia is very pleased to provide this unique opportunity to its customers, enabling Armenian businesses go beyond the boundaries of their domestic market and capitalize on the tendencies and opportunities that international trade can deliver", - HSBC Bank Armenia Head of Commercial Banking Aram Pinajyan said.

In 2012 two Armenian companies - Manana Grain and LIA K participated at HSBC's International Exchange Events in Sao Paolo and Shanghai respectively.

The outstanding balance of Trade Finance products volumes totalled AMD 10 billion during January-June 2012, a 27 percent increase compared to 31 December 2011, comprising 38 percent of the trade finance market share. Lending to the trade sector totalled AMD 42 billion as of 30 June 2012.

For the forth year in a row HSBC was recognized as "The Best Global Trade Finance Bank" in 2011 by Global Trade Review (GTR) magazine. In GTR's annual "Leaders in Trade 2011" readers' poll HSBC also won the "Best Global Export Finance Bank" award, thus becoming the first bank to win both awards in one year.