Kamo Margaryan, Head of Global Trade and Receivables Finance, HSBC Bank Armenia, said that Trade Academy’s goal is to preset financial instruments, bank guarantees and less risky and expensive trade financing methods.
Margaryan noted that more than 350 companies have taken part in that kinds of events organized by HSBC. We do not lead businessman to our bank, we just present our services of financing the business. Our purpose is to support businesses both in Armenia and USA as our global coverage gives the opportunity. The academy workshops have enabled the bank to attract more clients. As a result, every day we can see they prefer to use trade financing instruments to prepayment. Thus they improve companies’ financial indicators and secure themselves against risks,” Mr Margaryan said. The aim is to show organizations trade financing services and instruments and advantages of such instruments. However, the HSBC Bank’s international reputation and universally available experience is of importance as well. The academy workshops have enabled the bank to attract more clients.
Thies Clemenz, Chief Executive Officer of HSBC Bank Armenia, hoped that the event will be of benefit to all the participants and they will have full information they can make use of the moment their businesses go beyond Armenia.
As we have already mentioned the event was held with the US Embassy because the USA is considered to be the sixth great investor of Armenia.
However, numerous companies have to choose between expanding their businesses in the domestic market and entering the international market. At such moments they have fears. The reason is that developing businesses abroad will inevitably entail problems. And investments are the major concern. This is the reason for the workshop.
Richard Mills, the last embassador of the USA in Armenia said that Armenian business atmosphere tries to improve business relationship with USA. Our goal is to improve the cooperation between the American and Armenian businessman that will lead to economic growth in both countries and also in new work places. ‘If Armenian and American businesses know more about each other we can enlarge the cooperation for creating new work places’ he said.
The companies such as ‘Ingo Armenia’ and ‘Gold’s Gym’ also took part in 14th workshop of its Trade Academy.