Peru: Citibank Seminar on International Trade
28 July 2003, New York - Citibank Peru recently organized and hosted an educational seminar focused on financial literacy in international trade. Participants analyzed the set of variables to be taken into consideration in the dynamic international trade scenario.
Foreign trade expert Víctor Peña, Vice-President C.D.C.S. (Certified Documentary Credit Specialist) of Global Transaction Services at Citigroup, from Tampa, Florida, conducted the seminar.
A select group of executives from the financial, mining, fishing, textile, chemical, and technological sectors, attended the seminar, which reviewed the utility and benefits of the Letter of Credit as a reliable instrument to make commercial exchanges overseas and prevent fraud. He also answered the attendee's related questions on bank practices and payment instruments.
Mr. Peña stated that the Letter of Credit, one of the oldest financial products in international trade, continues to be an appropriate instrument to mitigate risks. "The regional and global experience of Citigroup is available to meet the needs of local exporters," he continued.
Gonzalo Pereyra, Manager of Foreign Trade at Citibank Peru, said "the importance of events such as these is immeasurable, as an understanding of secure instruments for foreign trade transactions is vital in countries such as Peru, which is in the process of integrating into the world market," he said.
By organizing these activities, Citibank Peru continues to supply financial tools to its customers, providing them with several alternatives that may be used in their foreign trade transactions including an extensive variety of products offered by Citigroup.
About Citigroup
Citigroup (NYSE: C), the preeminent global financial services company
with some 200 million customer accounts in more than 100 countries,
provides consumers, corporations, governments and institutions with
a broad range of financial products and services, including consumer
banking and credit, corporate and investment banking, insurance,
securities brokerage, and asset management. Major brand names under
Citigroup's trademark red umbrella include Citibank, CitiFinancial,
Primerica, Smith Barney, Banamex, and Travelers Life and Annuity.
Additional information may be found at: www.citigroup.com
