2023-07-10 08:46:51
• On the challenges and innovations of international trade
• Objective, to minimize the risk of loss in their operations
• Link a solid partnership with its importing and exporting customers
The Director of Oil and Gas Operations at ILDO OIL Burkina Faso, Yahaya Tougma. (Ph. Yvan Sama).
International trade is the exchange of goods and services between countries. It’s a business that’s been around for a long time. With economic globalization, it is now experiencing a boom with innovations that should be mastered in order to succeed in its operations. With a view to strengthening the capacities of its clients on the issue, Wendkuni Bank International (WBI) organized a communication day for their benefit on the financing of international trade. It was June 24, 2023, in Ouagadougou.
Banks face many challenges in financing and supporting international trade, whether at national or international level. Indeed, this type of business evolves in a very dynamic regulatory, organizational and administrative context that can induce various interpretations and prejudices for customers, hence the need to communicate with stakeholders to better understand each other.
It is with this in mind that WBI has organized this activity, which is intended to be a meeting for exchanges and awareness-raising for the benefit of its customers who use international trade products. These are general trade customers, purchasing groups and manufacturers. “We have operators who are in international trade and the observation that has been given to us is that there are many difficulties they encounter in the context of their operations. We therefore considered it important to create this framework to bring the various players together around the table, in order to encourage exchanges to iron out points of view”, indicated the Deputy Director General (DGA) of WBI, Roland Nikiéma. He also presided over the opening ceremony of the activity.
The bank’s staff worked hard to meet customer expectations. (Ph. Yvan Sama).
Through this initiative, the bank wants to equip its customers operating in foreign trade with the challenges and innovations of international trade in terms of regulations and procedures for exchange authorization, documentation required for hedging, and the lifting of import documents and miscellaneous. The representative of the Ministry of Commerce at the ceremony, Reine Ouattara, congratulated the bank for the initiative. For her, this meeting will allow clients to grow their business and minimize the risk of loss in their operations. She is the Director of business advisory support and capacity building at the Agency for financing and promotion of small and medium-sized enterprises (AFP/PME).
This workshop allowed high-growth SMEs/SMIs, large companies, as well as WBI’s institutional clientele to benefit from a better understanding, a good command and the best advice on international trade and its environment. to promote their development.
The Director of Oil and Gas Operations at ILDO OIL Burkina Faso, Yahaya Tougma, welcomed the holding of the meeting, as it allowed them to discover more regarding the bank and to expose their concerns on international trade. According to him, his company encounters difficulties in the transfer of currencies because of the monopoly of SONABHY in the import of petroleum products. “So this activity was an opportunity for us to present our concerns to BCEAO, the Ministry of Commerce and bank officials so that together we can find solutions,” he said.
The meeting saw the participation of actors involved in the process of international trade in Burkina. These are the Central Bank of West African States (BCEAO), the Management Company of the SYLVIE Platform (SOGESY), the Ministry of Trade and the Directorate of Monetary and Financial Affairs (DAMOF) of the Plublic treasure.
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Specific objectives of the meeting
Equip participants with the challenges of international trade (regulations, settlement procedure, customs, transport system, etc.);
Equip participants on the risk associated with international trade (country risk, commercial risk, transaction risk);
Equip participants on the various products of international trade and the inherent risks;
Provide participants with tools on INCOTERMS (place of delivery of goods, obligations of the parties, distribution of costs and risk between the parties);
Build a relationship of trust with TRADE customers.
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