Trade & investment

ICC expanding educational activities on trade rules

  • 30 March 2010

ICC is expanding its educational activities on trade rules through the launch, by the European Bank for Reconstruction and Development (EBRD), of an online training programme for its member issuing banks in 29 countries operating from Central Europe to Central Asia.

“Providing training in ICC trade rules helps us to facilitate intra-regional and international trade in our countries of operations,” said Rudolf Putz, Head of EBRD’s Trade Facilitation Programme.

The training, to be provided by ICC’s technology partner Coastline Solutions, will significantly expand knowledge in traditional trade products, including letters of credit, guarantees, standbys and collections.

“We see that traditional trade products are key to the operation of trade in a post-crisis market,” said Kamola Makhmudova, Trade Facilitation Programme banker responsible for the project.

The e-learning programme on trade finance offers courses that provide two comprehensive modules for traditional trade products and two other modules in advanced trade finance subjects. The training aims to ensure that bank staff has the requisite skills to issue, process and honour traditional trade products in line with the provisions of the ICC trade rules.

“Promotion of the correct application of ICC trade rules is a core objective of the ICC Banking Commission, so we are very happy that the EBRD have chosen this training for their member banks,” said Thierry Senechal, ICC Policy Manager and Secretary of the ICC Banking Commission.

The content of each course is written by the world’s leading experts in trade finance, including Gary Collyer, Technical Adviser to the ICC Banking Commission; Georges Affaki, Vice-Chair of the ICC Banking Commission; James Byrne, Director of the Institute of International Banking Law and Practice; and Vincent O’ Brien, ICC representative to the World Trade Organization.

“The online trade training courses will allow the EBRD greater flexibility and offer a more comprehensive approach to meeting member banks’ trade training requirements. It will also help to ensure consistency of understanding of trade products and ICC rules across member banks,” according to Leo Cullen, Head of Trade Products at Coastline Solutions.