ICC Sri Lanka signs Commercial Agency Contract with ICC Academy Singapore to boost capacity building

By Shannine Daniel

The Sri Lankan Chapter of the International Chamber of Commerce (ICC SL) signed a Commercial Agency Contract with the ICC Academy based in Singapore on 9 September in order to enhance capacity building support, especially in the trade finance sector. 

ICC Academy’s commercial Director Vijey Ananda stated that Sri Lanka is the first country, within the academy’s global network consisting of 130 countries, to sign such a contract, and it will allow the introduction of ICC Academy programmes and services for business professionals. 

Both organisations hope to work together in order to promote capacity building in the throughout the Trade finance sector of the country via the ICC Academy’s e-learning platform. 

Ananda stated that education and trading are two important aspects in improving the global trade landscape, and the only way of securing a healthier trading system is by providing a new generation with a solid foundation of quality trade finance skills and techniques. 

“We are keen in building in capacity all over the world and trade finance is a prominent area. There is an unsatisfied demand, mostly in South Asia for the skills related to trade finance, and through online education ICC is able to provide it,” said Ananda.  

The academy two certification programmes; the first is the Global Trade Certificate (GTC) an entry level certification aimed at junior practitioners and the second is the Certified Trade Finance Professional (CTFP) which will be unveiled at a forthcoming conference on regulation and compliance in October this year.

Ananda emphasised that the GTC programme has a growing number of registrants, while the CTFP will be available from November this year. 

ICC Academy Commercial Director Vijey Ananda (left) and ICC Sri Lanka Chairman Keerthi Gunawardane Exchange the Contract Document and others from left: ICC Sri Lanka Deputy Chairman Dinesh Weerakkody, ICC Sri Lanka Secretary Shanil Fernando and ICC Sri Lanka Education Sub Committee Chairman Lal Jayawardane

The ICC Academy has been backed up by several organisations such as the Singapore institute of Banking and Finance and the Workforce Development Agency which provides all their funding. 

He further mentioned that in July this year the ICC Academy signed a memorandum of understanding with the Singapore Management University under which the GTC has been made a part of programme which helps mid-career professionals transition to jobs in an international trading company. 

“This programme is being supported by the Singapore Government and is assists people who have been displaced in the later stages of their career as they look for new opportunities,” he said. 

On a further note Ananda added that even though the academy has struggled with trade finance, it hopes to mirror the work of the 12 commissions of the ICC based in Paris and they are developing various other certifications such as Export and Import as well a certificate in Anti-corruption which will be available early next year. 

Ananda also stated that the e-learning platform benefits both individuals and organisations interests or involved in trade finance and banking. 

“The online medium is seen as a cost effective and convenient method of spreading a ‘common language’ in Trade finance for large organisations, instead of flying trainers and lecturers across regions countries which is costly and inconsistent in quality. Online learning therefore provides a consistent learning experience,” he asserted. 

He added that the programmes will also be available on mobile devices to keep up with today’s advanced technology, making it a big selling point among the younger generation. The examinations for the programmes are also done online, and since it is available on a twenty four hour basis individuals can access the platform during their free time without hindering their work. 

Ananda also revealed that within the past few weeks they have approached organisations such as IBSL, the Trade finance association and the Bankers association and higher education institutes such as Sri Jayawardenapura University in order to promote these programmes. 

ICC SL Chairman Keerthi Gunawardane said that the imitative is an important building block to the country’s overall strategy to promote economic growth through trade.

In addition to this agreement, Gunawardane stated that in future ICC Sri Lanka hopes to work in partnership with country’s Government to transform the nation’s capital into a key regional business centre, coinciding with the Government’s aims of turning Sri Lanka into a commercial hub. 

Pix by Sameera Wijesinghe