PLACE OF HONOUR IN LUGANO FOR THE COMMODITY TRADING

More than 200 participants took part in the event, which has become the annual recall appointment for the commodity trading in Lugano. The third edition of the Commodity Trade Finance Conference, organized by the Lugano Commodity Trading Association (LCTA), in cooperation with the London-based group GTR Exporta Group, has been a great success among professionals in the trade of raw materials.

The conference, sponsored by various international and regional institutions and supported by several players of the sector, such as the Swiss Trading & Shipping Association, the Chamber of Commerce, Industry, handicrafts and services of Canton Ticino (Cc-Ti) and the International Trade Council, welcomed the participation of leading trading companies active in Lugano, as Duferco, Coeclerici, Petraco Services and Telf AG.

The event, held at the Palazzo dei Congressi in Lugano on October 25th, had an exceptional chairman, who moderated the intense discussions. Luca Albertoni, director of the Cc-Ti and president of the Swiss Chambers of Commerce, presented different “panels” focused on specific issues, such as the new priorities of the companies active in the sector, the role of banks and the increasingly restrictive regulations in the trade finance or the current situation concerning the transactions with Iran. The different origins of the participants and the topics covered have provided a clear idea about the current perceptions in the commodity trade finance.

The annual event of the LCTA has been of course also a privileged and important moment for networking between traders, banks and other worldwide institutions. These meeting moments are the opportunity to develop important relations in order to promote Lugano as commodity trading hub and the commodity trading business. It is important to remind that in Ticino there are about 100 companies active in this sector and half of these companies are associated with the LCTA. The market of raw materials revolves around different service’s needs, first of all the banks sector, which should provide a solid basis for financing transactions. It is therefore essential to promote the networking between different actors and the LCTA plays an important role as focal point for contacts. “The commodity trading industry in Lugano is booming and there are many companies which have chosen our canton to focus the centre of their activities” – said Marco Passalia, General Secretary of the LCTA. “The role of our association is indispensable to facilitate the contact between different actors and promote Lugano as commodity trading hub. The success of this conference emphasizes once again the dynamism and importance of the commodity trading sector in Lugano.”