Tunisia-ITFC: opportunities for co-operation reviewed to benefit from trade finance lines (Omar Behi) | Tunisia News Gazette

Tunisia-ITFC: opportunities for co-operation reviewed to benefit from trade finance lines (Omar Behi)

The International Islamic Trade Finance Corporation (ITFC), an autonomous entity within the Islamic Development Bank (IsDB), has a programme for development and investment in Tunisia, especially since the corporation is specialising in financing export operations of raw materials (energy and grain), Minister of Trade Omar Behi told reporters on Tuesday.

Speaking on the sidelines of the IsDB Annual Meetings, held from 1 to 5 April 2018 in Tunis, he added that opportunities for co-operation with Tunisia were examined so that the country could benefit from financing lines to boost trade, especially since the ITFC aims essentially to promote inter-Arab and inter-African trade.

The meeting between Tunisian officials and the ITFC made it possible to introduce the results of the first phase of the Aid for Trade initiative for Arab States (AFTIAS).

This initiative aims to promote the inter-Arab trade, whose rate does not exceed 10%, despite the opportunities and means available to these countries, said Hani Salem Sonbol, Chief Executive Officer of ITFC.

Tunisia is one of the beneficiary countries of this initiative completed in December 2017 and whose second phase will be launched in 2019, the official said.

“The IsDB aspires to increase co-operation with Tunisia, especially for small and medium-sized enterprises (SMEs) .This cooperation with Tunisian SMEs has already begun, but today we are working to integrate development programmes of this sector, through training, technical bonuses and capacity building for SMEs or the banks that finance them, “he further indicated.

The goal is to increase the competitiveness of these units as well as their export capacity, he said.

Tunisia has benefited from more than 2 billion dollars in terms of trade operation for several companies and different sectors, including energy.

Established in January 2008, the ITFC has granted more than $ 40.2 billion as trade financing to member countries in the Organization of Islamic Co-operation (OIC).

It helps businesses in member countries to obtain the financing and the resources needed to strengthen their trade-related capacities and to improve their competitiveness on the international market.

Source: TAP News Agency

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