A workshop on “International trade finance, logistics and business development” to enhance trade relations between Vietnam and South Asian countries was held in Hanoi on April 21, attracting 200 delegates from exporters, banks, financial institutions and carriers in Vietnam and Bangladesh.
Addressing the opening ceremony, Vice President of the Vietnam Chamber of Commerce and Industry (VCCI) Hoang Quang Phong valued the role of international finance and logistics services in current global economic integration, especially the development of guarantee services and standby letters of credit which can replace cash and avoid insolvency.
The guarantee services are widely used in construction, pharmaceuticals, communications, financing, infrastructure and mineral and oil extraction.
Vincent O’Brien, a member of the International Commerce Chamber Banking Commission of Bangladesh briefed the group on surveys of the global trade finance situation in 2015, agreed practices and customs on credit vouchers, and principles on demand guarantees.
He also mentioned international commerce terms to define responsibilities and payers for fees and insurance charges in shipping.
The two-day workshop will also discuss matters related to certification of trust and solutions to resolve disputes with impartial third party participation without trials.
An agreement on co-operation between the Vietnam International Arbitration Centre and the Bangladesh International Arbitration Centre will also be signed at the event.
Workshop stimulates trade links between Vietnam and South Asian countries
A workshop on “International trade finance, logistics and business development” to enhance trade relations between Vietnam and South Asian countries was held in Hanoi on April 21.
Source: Nhan Dan
