The new trade desk will cater specific needs of importers and exporters, as well as market practices for trading between these two regions.
It will offer tailored suite of trade services and finance solutions, including access to Citi’s global trade network and local expertise through its branch network in over 40 countries in Asia and Latin America.
The new service will also offer alternatives to resolve domestic funding constraints through a single window operational gateway which will boast over 3,000 correspondent bank relationships in Asia.
Operational efficiencies and financial benefits will be offered through the new trade desk to facilitate and support the increasing trade flows as Latin American businesses expands into the other region.
Latin America Trade Desk in Asia will also provide integrated solutions that use its technology platforms, local market trade experts and processing centers in Latin America and Asia to optimize cross-border trade settlement processes, reduce operational costs, and mitigate the risks, said the company.
Citi Global Transaction Services Trade head for Latin America & Mexico Renato Faria said in Latin America, Citi is among the first to launch solutions specific to the market needs of both Latin America and Asia.
"Our knowledge and understanding of the fast-paced changes in Emerging Markets to Emerging Markets flows allow us to develop best-in-class solutions and value-added propositions that best address these market trends and the needs of both sides of the trade transaction," Faria added.
