Amsterdam Spring Reception 2012 held in Amsterdam on the 15th May

For the second year, Credit Europe Bank N.V. and the International Forfaiting Association co-hosted the annual “Amsterdam Spring Reception”.

The event took place in a historic venue called “Het West-Indisch Huis”, which is popular with the locals. Similar to the previous year, it was well attended by counterparts from Northern Europe and the UK, over hundred representatives came along.

Prior the event the Educational Committee organized a seminar on “RMB denominated LC trades” alongside with its developments and challenges. Interesting and informative presentations delivered by Dr. Weixin Huang from Rabobank and ITFA Board Member Charles Brough. During the presentation Dr. Weixin Huang argued that the Chinese government is making increasing efforts in encouraging the currency to be used in international trade. He elaborated that these efforts seem to have positive effect testified by increasing volumes of trades settled in RMB worldwide. One of the main challenges pointed out by Dr. Huang is the allocation in terms of percentage of total LC volume of RMB denominated LCs due to lack of a secondary market for RMB LCs.

The presentation and discussions were followed by networking reception in a friendly atmosphere. Champagne and other drinks along with canapés were served while counterparts met each other and discussed the developments in the markets. Most people continued the gathering at a nearby bar in a more informal atmosphere.