WTC Goa Organizes Session on Foreign Trade

Nov 25, 2018

World Trade Centre, (WTC) Goa along with Young Indians (YI) of the Confederation of Indian Industry and State Bank of India, Commercial Branch organized an interactive session on Foreign Trade to senior students of the Commerce stream who are interested in taking up exports and international trade as a career option. The session was organized on November 23 at Bicholim Goa.
Mr. S.S. Biswas, Manager Forex, of State Bank of India Commercial Branc,h explained in detail the role of foreign exchange in International Trade. He gavea deep understanding on how exporters can avail of this facility and what documentation they have to submit for availing Foreign exchange. Mr Biswas also highlighted the Letter of Credit (L/C) and what are the requirements of the same. He also threw light on the role of the exporter, the banks involved and the importer of the goods in facilitation the completion of the Export-Import Cycle. Mr Biswas briefly touched upon the high sea transactions that play an effective role in International Trade.
Mr. Cyril Desouza, Assistant Director –Trade Promotion, World Trade Centre (WTC) Goa, highlighted the role of the WTC in promoting international trade. He explained the interconnection of the 320 WTCs in almost 90 countries and highlighted how it could be of immense value in facilitating International Trade. Mr. Desouza also expressed that an in-depth course in Foreign Trade can be arranged for the budding exporters, he shared the role of the WTC in hand holding the new exporters in obtaining the import-export code as well as identify new markets for the exports. A copy of "India and Free Trade Agreements: Opportunities & Challenges 2018" as well as a copy of"" BIMSTEC- a Vibrant Economic Bloc "both published by WTC Mumbai were handed over to their coordinators for Common reference.
Professor Lawrence, Coordinator for the College proposed the Vote of Thanks and expressed that it would be very educative for his senior students if the export training course could be arranged. He also requested WTC Goa and Yi to conduct this type of outreach to all the senior commerce students of Goa.