HSBC Bank Armenia CEO Astrid Clifford and Director of the National Center for Small and Medium Business Development Ishkhan Karapetyan said Tuesday that Trade Financing Academy will be established in Armenia.

The Academy is expected to start its activity in mid-June, with lectures on trade financing and international trade transactions.

According to Stuart Nivison, Head of HSBC Trade and Supply Chain Europe, in contrast to many Asian countries, in which the international trade is active and technologies are developed, in Armenia, as a former soviet republic, mechanisms in the field are complete yet. "Armenian businessmen lack relevant knowledge and experience in international trade transactions. Given 140 years of activity, HSBC Bank can be useful in providing financial education to Armenian exporters and importers," he stressed.

Lectures at the Academy will be given by experts of the HSBC Bank Armenia trade financing department.