For the fourth year running, HSBC has been named the 'Best Trade Bank in the Middle East' in an online poll of importers and exporters conducted by Global Trade Review (GTR), one of the world's leading international trade magazines, says a press release.
Kersi Patel, Regional Head of Trade and Supply Chain, HSBC Middle East, commented "Trade continues to be a key driver of economic growth in this region, contributing a significant amount to the GDP of many of the GCC countries. 2010 has seen a renewed focus on intra-regional trade within MENA, primarily addressing infrastructure developments, imports to sustain a growing population, and hydrocarbon sector requirements. At the same time, the importance of the 'new Silk Road' or east-east trade flows are becoming increasingly important, and the role of the Middle East as a mid-point on this route has sparked interest in this region from international traders."
The award is decided by a poll of Global Trade Review readers. Vote based on the institutions' performance in the trade, commodity and export finance markets during 2010. "There are many factors behind this win - our extensive MENA and global network, over 450 Trade experts on the ground in 12 countries across MENA who offer strong trade advisory capability and ensure ongoing engagement with customers, and a market leading service delivery capability. Continuing to win recognition for service excellence from our customers is particularly pleasing for all of us in HSBC's MENA Trade team," concluded Patel. HSBC Trade and Supply Chain is one of the largest trade services organisations in the world with dedicated trade services offices in over 60 countries and territories world-wide-PR