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The coronavirus pandemic and Ukraine crisis have posed some challenges to the export industry in recent years. However, the statistics give cause for optimism for 2023 as the exports are pointing upwards again.
To address this topic, the EU Tech Chamber (EUTECH) Finance Alliance organised a webinar on January 25, 2023. The topic under discussion was, “Export Finance in 2023”. The webinar was moderated by Mr. Frederik Simon Pierre Tchoungui, coordinator of Finance Alliance, who gave a formal introduction of the panelists and a brief overview of the organization.
The two worthy panelists for today’s webinar were Mr. SAMER ALLAF, MBA, Chief Financial Officer at Kingdom Hospital & Consulting Clinics and Ms. Chiara Verderese, Technical Support at ISCLEANAR.
While addressing the webinar, the speakers discussed the challenges in the export industry such as fluctuations in exchange rates that could affect payments and receipts in foreign currency. They highlighted other risks for business entering export markets. Some of them were product, production, and transportation risk, commercial risk, political risk, adverse business risk, currency risk, and financial risk.
Moreover, they talked about different types of documentary credits/letters of credit (L/C) like confirmed L/C, unconfirmed L/C, revokable L/C, etc.
We want to thank our respectable speakers for their informed insights on this much-needed topic. Moreover, special thanks to Mr. Frederik Tchoungui for moderating the webinar and distributing Tree-Certificates to the panelists.
Above all, sincere thanks to all our attendees – your comments, compliments, and questions. Stay tuned for our next Finance Alliance webinar on February 22, 2023, about “Grassroots and Angels – New Markets and Investment”.
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