The Hong Kong and Shanghai Banking Corporation Limited in Bangladesh, in collaboration with International Chamber of Commerce (ICC) Bangladesh, recently organised a trade workshop for its clients.

The workshop extensively focused on training trade professionals on globally accredited trade standards – UCP 600 and Incoterms 2010. HSBC is the first bank in Bangladesh to organise such workshop on the topics for its clients, said a press release.

The Uniform Customs and Practice for Documentary Credits (UCP) is a set of rules on the issuance and use of letters of credit. The UCP is utilised by bankers and commercial parties in more than 175 countries in trade finance.

The Incoterms rules or International Commercial Terms are a series of pre-defined commercial terms that are widely used in International commercial transactions or Procurement processes. Both of these global trade standards are published and standardised by ICC.

The workshops were held in Dhaka and Chittagong with more than 180 trade professionals attending the workshops.

The workshops were conducted by the Chair of the ICC Banking Commission Executive Committee, Vincent O’Brien – an expert in the field of trade standards with more than 20 years of experience.

The workshops provided an opportunity for the participants to engage with distinguished trade professionals of the country and trainers through interactive discussion sessions to understand the globally accredited trade standards thoroughly.

Commenting on the workshops, Corporate Banking Head of HSBC Bangladesh, Md. Mahbub-ur-Rahman said “As the leading international trade bank, HSBC believes in facilitating knowledge on international trade for our trade partners and valued customers.”

Executive Director of Bangladesh Bank Md Ahsan Ullah, Preseident of the Chittagong Chamber of Commerce Mahbubul Alam, President of ICC Bangladesh Mahbubur Rahman, ICC Bangladesh Secretary General Ataur Rahman, Corporate Banking Head of HSBC Bangladesh Md Mahbub-ur-Rahman and other senior officials from ICC Bangladesh and HSBC also attended the workshop.