The International Trade and Forfaiting Association (ITFA) has announced that it has joined forces with The Association of Trade and Forfaiting (ATFA) under a transition agreement that came into force on 31 December 2019. With that agreement, ATFA will operate as ‘ITFA Americas’ and become ITFA’s Regional Chapter for the Americas (AMRC).
ITFA says that the agreement represents a huge step towards improving its international scope and asset quality. The combined associations now nearly cover the globe, with members in Europe, the Middle East, Asia, Africa, Australia, and the Americas. Through ITFA’s network of Regional Committees and ITFA Americas, it says it is positioned to provide more value-added offerings and opportunities, including a wider range of educational events and seminars, all designed to foster business relationships through and for the benefit of all members.
“This brings under one roof two highly complementary trade finance institutions,” said Sean Edwards, ITFA’s chairperson. “We have worked together frequently over the years and this step was long overdue. The synergy and benefits for all our members will be clear as we roll out our creative energy and ability to find solutions ever more globally and with greater ease.”
“For me, it’s always been a global vision,” commented Lynn Galkoski, newly elected to ITFA’s Board and chair of ITFA Americas. “When I was elected ATFA president, we were strategic about assembling a board that, for example, knew corporates, knew Latin America, and understood the enormous potential at hand to add even more value for our membership. Joining forces with ITFA with its strong brand and expanding into Latin America are two major steps toward bringing that vision to fruition.”
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