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Belarus mulls over association of trade finance specialists

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MINSK, 19 February (BelTA) — Belarus is mulling over an association of trade finance specialists, BelTA learned from the Association of Belarusian Banks (ABB).

“The need for an association of trade finance specialists is arising due to a high activity of Belarusian banks in the area of documentary and other trade finance transactions and the possibility of membership in the International Chamber of Commerce, which opens the domestic market a wider access to foreign projects, as well as participation in the development of international rules in the area,” ABB Chairman Aleksandr Kuchinsky said at a meeting with representatives of commercial banks and the National Bank.

The banks supported the idea to set up an association of trade finance specialists.

The project is supported by the National Bank and the European Bank for Reconstruction and Development. The association may comprise not only Belarusian banks, but also other active players in the trade finance market - major exporters, logistics and legal companies, said Aleksandr Kuchinsky.

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