FCIB Expands Reach with US Department of Commerce's Trade Connect Seminar

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FCIB Expands Reach with US Department of Commerce's Trade Connect Seminar


On February 21, FCIB took part in the US Department of Commerce's Trade Connect seminar held at the Thunderbird School of Global Management in Glendale, Arizona. The trade finance seminar was provided for local and regional businesses to raise awareness about exporting opportunities and the tools and resources available to help facilitate those endeavors.

The program was co-sponsored and presented by heavy-hitting business and government organizations, such as the Thunderbird School of Global Management, FCIB, Arizona District Export Council, Arizona Hispanic Chamber of Commerce, Tucson Hispanic Chamber of Commerce and NACM of Arizona--Southwest Business Credit Services in partnership with the US Department of Commerces International Trade Administration, the US Commercial Services Arizona, Minority Business Development Agency and Phoenix MBDA Business Center. The program also had the support of several public and private sector partners.

The sponsors stacked the one-day seminar with experts who covered export success stories, opportunities for global family enterprises, methods of international payment, US government export finance programs, global business development resources for Hispanic and other minority-owned businesses, trade finance and international business education and resources and a plethora of "how to's" including:

* approaching and working with banks to enter and grow in the global markets,

* assessing risks and extending credit terms to foreign buyers,

* increasing export sales while minimizing nonpayment risk and exporting,

* and getting paid in foreign currencies.

The sessions were crafted to align with the seminar's objectives and goals, which were provided by Master of Ceremonies Yuki Fujiyama, ICCE, trade finance specialist in the Office of Finance and Insurance Industries in the US Department of Commerce's International Trade Administration (ITA) in his opening remarks.

More background and insight was provided by several co-sponsor representatives in the mornings welcoming remarks. Dale Davison, PhD, dean of faculty and interim chief academic officer at Thunderbird School of Global Management, handily set the tone for the day, noting that Thunderbird was created around the notion that "Americans were very poorly prepared to conduct international business" and that "business would only be done in English and only done in the US dollar." He referenced Thunderbird's mission to build an understanding of and bridges to other cultures, noting the realization that this is what trade professionals do in their careers. "When you arrange financing for international transactions, you build bridges between this country and other countries or between businesses and other countries," he said. "You enhance global understanding."

Karen Dickinson, chair of the Arizona District Export Council, and Gonzalo de la Melena Jr., president of the Arizona Hispanic Chamber of Commerce, were two others providing welcoming remarks. …

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