New regional committee in Brazil

A new ITFA Brazilian Regional Committee has now been established.

The new committee was formally ratified by ITFA’s Board on 6th March 2009. It has initially four members: Renato Schulman of Banco Finantia, the Committee’s Chairman; Guilherme Gottardi of Banco Fibra, Alexandre Ozzetti of London Forfaiting Company and representing ATFA, The Association of Trade & Forfaiting in the Americas, Ana Paula Firmato of DF Deutsche Forfait

The Committee has two main objectives for the remainder of 2009, according to Renato Schulman, firstly to encourage more local Brazilian firms to join ITFA and to be represented on the Brazilian Regional Committee. And secondly, to arrange an educational seminar and reception in the second half of this year. These initiatives will be done in close partnership with ATFA, with whom the ITFA has a cooperation agreement to promote forfaiting in the Americas.

The Committee has been established against a background of active forfaiting in Brazil. “The product is well known and used here,” explains Schulman. “There is a lot of supplier credit which is used to finance exports to Brazil from all over the world and the Brazilian banks often discount this paper. At the same time forfaiting is also used to support Brazilian exports, particularly of manufactured goods.

We would like to build a closer network among those involved in forfaiting in Brazil by encouraging them to join and benefit from ITFA membership.”

The Brazilian Regional Committee represents the latest in a series of international developments by ITFA, which is now represented in most regions of the world.

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