International Training on International Trade Settlement (How to do Business with Chinese Traders)

SEAMEO TED in collaboration with Go Study Global Education, together with Guangxi University of Finance and Economics (GUFE), co-organized an International Training on International Trade Settlement (How to do Business with Chinese Traders) to Southeast Asian teachers and Students on 23-24 March, 2021 virtually. The objective of the training was to help participants understand the fundamentals and basic methods of international settlement, acquire the basic skills in the international settlement, and enable them to have more idea in doing business with Chinese traders more practically. This international training was made specially to share basic knowledge to high school teachers and university students in Southeast Asia. This training was attended by 72 participants from different countries, most of whom are from SEA Vocational-Technical High School Network members including Cambodia (35), Indonesia (19), Malaysia (4), Myanmar (2), the Philippines (7), Thailand (2), and Timor-Leste (3).

This training was lectured by, Dr. Jules Harris DANARSON, the professor of International Trade of the GUFE. Prof. Harris has teaching and research experiences in international trade, International Taxation, Business Communication and International Business Negotiations for many years. He is also an international trade expert who has been in China for 10 years. He is very familiar with Chinese international trade situation.  It is noted that Guangxi University of Finance and Economics or GUFE is a unique and influential finance and economics university in Southwest China with strong characteristics in economics and management education and distinctive features of internationalization in China-ASEAN region.

It was very interesting that the participants could learn and understand the  important settlement tools of international trade, which was the main outline of the course, particularly Concepts, Types and procedure of Letter of Credits (L/C) (Revocable of Letter of Credits, Irrevocable of Letter of Credits, Confirmed of Letter of Credits, Transferable of Letter of Credits, Revolving of Letter of Credits, Standby of Letter of Credits, Letter of Credits at sight, and Red clause of Letter of Credits) and methods of international trade settlement in the first session. In addition, the participants also learned about the Concepts and Procedures of Collection, Banking & Business procedure, Application of Remittance, and Doing Business with China, followed by a Case Study in the second session of the course.

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