ITA and FCIB’s Commitment to International Trade Finance ContinuesSeptember 28, 2012
Yuki Fujiyama is a trade finance specialist with the Office of Financial Services Industries in the International Trade Administration. He is the author of The Trade Finance Guide: A Quick Reference for U.S. Exporters.
Increasing access to financing for U.S. exporters and their foreign buyers is one of the top priorities of the President’s National Export Initiative (NEI). One of the private-sector organizations that is actively supporting such efforts, in partnership with the U.S. Department of Commerce, is the Finance, Credit and International Business Association (FCIB), a globally recognized association of international credit and trade finance professionals. Established in 1919, FCIB enjoys an international reputation as a prominent business educator of credit and risk management professionals in exporting companies ranging in size from multinational to small and medium-sized enterprises (SMEs).
FCIB is currently working with the Commerce Department on the development of the third edition of The Trade Finance Guide: A Quick Reference for U.S. Exporters and its inaugural Spanish language version scheduled for release at FCIB’s 23rd Annual Global Conference on November 11-13, 2012 in Philadelphia, PA.
In 2007, FCIB assisted the Commerce Department in the development of this well-received publication, a concise and easy-to-understand guide designed to help SMEs learn quickly how to get paid from their foreign customers in the most effective manner. Subsequently, in recognition of its contributions to the development and promotion of the Guide, FCIB was awarded a Certificate of Appreciation from the Under Secretary for International Trade, the head of the Commerce Department’s International Trade Administration (ITA). With more than 200,000 copies distributed to the public since its release in 2007, the Guide has grown to become one of the most popular export assistance resources published by ITA. The Guide is actively utilized by many international credit, banking, and trade finance professionals to help promote basic trade finance literacy among new-to-export SMEs. In support of the NEI, FCIB will continue to promote the new Guide to help advance international trade and facilitate U.S. exports.
Another recent partnership example is FCIB’s “Doing Business In” series that focus on country-specific exporting issues. This series features experts from various nations providing expertise on some of the most vital ins and outs of profitable sales of products and services in both established and developing economies. FCIB is currently working with the Commerce Department to expand its “Doing Business In” series through the participation of selected ITA’s country desk officers and commercial service officers who work at U.S. embassies overseas.
In 2004, in partnership with Commerce Department and Michigan State University, FCIB developed, designed and launched the first course of its kind–International Credit & Risk Management (ICRM) online course. The course comes to exemplify the level of respect and cooperation between FCIB and the Commerce Department in the shared mission to promote the growth of U.S. exports and advancement of international trade. FCIB’s 13-week ICRM online course is designed to educate credit, trade finance, and international business professionals about the various intricacies of global credit and risk management.
In September 2012, FCIB launched the latest session of its ICRM online course. Now approaching its second decade of service to the global credit and business communities, more than 1,700 professionals in credit and finance have earned the ICRM program’s prestigious Certified International Credit Professional designation. A Commerce Department partnership awarded through the Market Development Cooperator Program was of critical importance in getting the ICRM online course program off the ground.
FCIB is a two-time recipient of the President’s “E” Award, which recognizes the significant contributions that companies and organizations have made to increasing American exports.
- In 1970, FCIB was awarded the President’s “E” Certificate for Export Service for its role in stimulating increased interest in exporting within the U.S. business community from 1967-1969.
- In 1982, FCIB was awarded the President’s “E Star” Award in recognition of its outstanding work and continuous support of the export credit community.
Now in its 93rd year, FCIB continues to develop easily-accessible services to facilitate the role that its membership and other credit and trade finance professionals play in the growth of U.S. exports and the advancement of international trade.
FCIB’s parent, the National Association of Credit Management, is a non-profit organization that represents nearly 16,000 businesses in the United States and is one of the world’s largest credit organizations. More information on FCIB is available at www.fcibglobal.com.