Friday, October 18 2013 19:00
HSBC Bank Armenia expands the presence of Armenian business on foreign markets through trade financing
ArmInfo. Gayane Isahakyan. HSBC Bank Armenia helps Armenian companies to enter new markets by means of efficient instruments of trade financing, Thies Clemenz, CEO of HSBC Bank Armenia, said during a seminar on October 18.
He said that the Bank regularly conducts surveys in various fields of economy, traces the tendencies of trade and is ready to provide the business entities with the observation results.
Thies Clemenz said that Armenian companies constantly have to choose between expansion of their activities inside the country and entry into foreign markets. On the foreign markets the Armenian companies come across legal and logistical problems, as well as payback risks more often.
For his part, Amias Moores, Deputy Head of the UK Mission to Armenia, stressed that the UK Embassy supports the British businessmen in Armenia and contributes to the Armenian companies' entry into the British market. He added that HSBC has made a serious contribution to the development of the Armenian banking sector by introducing new effective trade financing instruments and providing businessmen with risk assessment services.
To remind, HSBC Bank Armenia launched the Trade Financing Academy initiative in 2010. The Oct 18 2013 seminar was organized jointly with the UK Embassy in Armenia.
To note, the shareholders of the Bank are HSBC Europe B.V. (70%) and Wings Establishment (30%).
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