Business & Money | Thursday 10 November, 2016 3:37 pm |

Under the theme of climate change and its impact on trade, the International Islamic Trade Finance Corporation (ITFC) and the Islamic Development Bank (IDB) in collaboration with the Ministry in Charge of Foreign Trade in the Kingdom of Morocco, are organizing a Seminar on "International Trade and Climate Change" on Monday, November 14th, 2016, in COP22 Green Zone, Marrakech.

 

The seminar will take place on the sidelines of the United Nations Conference for Climate Change (COP22), held between 7 to November 18, 2016 in Marrakech - Kingdom of Morocco, where the opening will be under the auspices of the Ministry in Charge of Foreign Trade delegated to the Minister of Industry, Trade and Investment and the Digital Economy, Eng. Hani Salem Sonbol, Chief Executive Officer of the International Islamic Trade Finance Corporation (ITFC) and Mr. Roberto Azevedo, Director General WTO.

 

The seminar will shed the light on how international trade helps in reducing the climate change impact and financial instruments that contribute to sustainable trade finance. The speakers include representatives from international organizations such as United Nations Conference on Trade and Development (UNCTAD), the International Trade Centre (ITC), the Islamic Development Bank, Portnet Morocco, Africa Exim Bank, in addition to representatives of international financial institutions and leading initiatives in the field of trade and environmental protection standards.

 

The Kingdom of Morocco’s was delegated during COP21, held in November 2015 in Paris, to host the COP22, for its prominent role in sustainable development and sustainable energy.

 

For this occasion, Eng. Hani Salem Sonbol opens an invitation to this seminar; and says: “This is the first time that ITFC addresses the subject of climate change impact on trade given the extreme importance of this subject, including its major impact on trade finance operations, especially in sectors like agriculture and food security. A large number of our Member Countries depend on the agricultural sector as their primary source for the development of economy, which is the most vulnerable sector to climate change. ITFC looks forward to work together with its Member Countries and its partners in the region to achieve its goal with regard to International Sustainable trade promotion. We invite everyone to join us to insure the success of this important step."