Банкеръ Weekly

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BNP PARIBAS (BULGARIA) OPENS UNIQUE BUSINESS TRADE CENTER IN SOFIA

Sofia became the consequtive capital city where the subsidiaries of the French bank giant BNP Paribas opened a trade centre. The opening of this business center is part of the global initiative, launched by BNP Paribas, to provide its corporate customers with a world-class network of trade finance experts, focusing on international trade. On September 2 Jacques Desponts, Head of International Trade for BNP Paribas, inaugurated the business trade center that is unique for Bulgaria and 3rd of its kind in Eastern Europe. It is located in the building of BNP Paribas (Bulgaria), in which the French bank is a majority shareholder.The French banker commented that the economic forecasts for Bulgaria were positive and therefore the financial institution wanted to be present on the Bulgarian market in the best possible way. The concept of the BNP Paribas trade center network is to create specific support for exporters and importers. BNP Paribas will have seventy trade centers in operation by the end of 2002, sixty one of which have already been opened worldwide, and twelve are in France. Our clients in Bulgaria need more services, connected with financing of trade, and our wish is that they increase their foreign commercial exchange, Mr. Desponts pointed out.The CEO of BNP Paribas (Bulgaria) Ulrich Guenter Schubert, on his part, specified that one of the chief tasks of the trade centre's experts would be to manage better the risks, connected with the companies' commercial activities. The clients of the business centre will be able to make use of prompt information about the markets and of various instruments for trade financing - traditional letters of credit, bank guarantees, cash management, monetary operations and other types of financing imports and exports, discounting, forfeiting, etc.

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