Reviving trade along the old silk road

A forum held in Ukraine promotes trade links between Ukraine, Asia and the Middle East

Trade is being rekindled along the ancient Silk Road thanks to an EBRD conference that took place in October 2017 in Kiev.

The “Ukraine Silk Road Trade Finance Executive Forum” attracted key players in trade finance, including banks, exporters and importers from countries across Asia, Europe, the Middle East and North Africa, who gained insights into Ukraine’s business environment and current trends in international trade.

In return, Ukrainian participants were informed about new market opportunities in Asia and the Middle East and they had a unique chance to be introduced to decision-makers from major Asian and Middle Eastern banks.

Kamola Makhmudova, chair of the conference and senior banker in the EBRD’s Financial Institutions team, expressed how proud the EBRD was to host the forum, which covered the latest trends in trade and facilitated interaction with new market players.

“This unprecedented forum has brought together senior banking and legal professionals from  Amman, Beijing, Cairo, Dubai, London, Seoul, Taipei and Tokyo to meet key Ukrainian partner banks and corporates that are engaged in trade with Asia and the Middle East. By running this conference, we are opening a new chapter in reviving trade links along the ancient Silk Road,” she explained.

The TFP played a leading role in organising the conference in cooperation with the Ukraine International Chamber of Commerce, Ukreximbank, Oschadbank and Credit Agricole Ukraine.

Since its inception in 1999 the TFP has supported several thousand trade transactions in Ukraine, the Bank’s most active country under the programme. To date, 15 Ukrainian banks have been engaged in trade transactions under the TFP, covering a variety of export-import contracts between Ukraine and the European Union, as well as in countries further away, such as Argentina, New Zealand and Vietnam.

To date, hundreds of Ukrainian bankers have received scholarships and completed online trade finance training which has equipped them with the necessary know-how to conclude more sophisticated trade transactions.

By running this conference, we are opening a new chapter in reviving trade links along the ancient Silk Road.

Kamola Makhmudova