– Mr. Sukiasyan, EBRD (European Bank for Reconstruction and Development) is organizing a Conference on «Support for Small and Medium Enterprises Export-Import through Trade Financing”, October 1-2. Who are the participants and what is the role of ARMECONOMBANK in this Conference?
The conference will be attended by representatives of state agencies and local and foreign banks, small and medium enterprises, business consultants. The main objective of the conference is to raise awareness on the opportunities available in the sphere of trade financing for small and medium enterprises. The conference will bring together under one roof, internationally recognized academicians to share their experience and knowledge with invited people.
Attaching great importance to the enhancing utilization of internationally accepted trade finance tools also among small and medium enterprises ARMECONOMBANK OJSC decided to act as the event’s main sponsor.
– Mr. Sukiasyan, your bank was one of the first banks to join the EBRD’s Trade Facilitation Program. When did the cooperation start in the frames of the project and how do you assess it?
– In 2002 “Issuing bank” agreement” was concluded between ARMECONOMBANK and EBRD that enabled our bank to work with foreign banks in the spheres of Documentary Transactions using EBRD’s guarantee, and since 2007 we could offer our clients short-term loans intended for export and import with the interest rate starting from 7 per cent. Currently the bank continues to cooperate with the EBRD in the framework of Trade Facilitation Program.
In March 2006, an international conference on Trade Financing was organized and held together with EBRD in Yerevan that had great response among the partners and favored the formation of new relationships, strengthening existing relationships, as well as the increase in the number of transactions carried out in the framework of Trade Facilitation Program.
Currently the Bank continues to cooperate actively with EBRD in the framework of Trade Facilitation Program. In the near future we expect increase of credit line limit for the Bank by EBRD to enhance our possibilities in the sphere of Trade Facilitation Program.
– Mr. Sukiasyan, what results do you expect from the conference?
I have always given great importance to the organization of such events, because they create opportunities of acquisition of knowledge, introduction of new tools, new cooperation. Especially it is important exchange of expertise both during the conference and in the corporate evenings organized after the conference.
I attach importance to the further development of the Trade Facilitation Program, as it greatly facilitates the export and import volumes, which had a positive impact on the economy of our country.
Analyzing the current geopolitical situation, I am inclined to believe that very favorable conditions can be created for the growth of exports from our country. Export growth, however, is only possible with increased production, so the current producer would be interested in producing as much as possible, otherwise the market will be taken by the other manufacturers or competitors of other countries.
During the conference in Yerevan the foreign bankers will learn about our country, our culture, traditions and later, why not, may wish to visit Armenia as tourists.