6-th EEFA Conference
East European Factoring Association (EEFA) has, for the sixth time in a row, called representatives of the factoring industry from a number of countries, including Eastern Europe, Western Europe, CIS and Asia, to take part in the Annual factoring conference. This time, 6th Annual EEFA Conference was held on 5-8 September, 2006 in Sofia, Bulgaria. The conference proved to be the largest ever since EEFA foundation: it has welcomed 90 delegates from 28 countries! This indicates, that there is an ever growing interest in the factoring market among the international community; that market possessing highest growth opportunities in developing countries.
In the course of the Conference, the following key areas were analyzed and presented by the speakers of the Conference: major approaches to analyzing risks in Eastern Europe, particular features in developing sales and marketing strategies in factoring business, client fraud prevention and risk-management in factoring business, the prospects of factoring markets in developing countries, the use of IT in factoring as well as other factoring-related topics. Also, the usual round-table discussion was held, devoted to competition between banks, insurers and factoring companies.
EEFA conferences provide unique possibilities for factoring professionals from a large set of countries to meet and discuss any factoring-related issues. For example, in the flow of the last conference, a discussion between Russian factors was held, to identify ways of co-operation. As a result, there came the decision to create a Russian Chapter of EEFA, primary aim of this Chapter being lobbying the interests of Russian factors. Membership in this EEFA’s Russian branch will serve as a “high-quality” tag for factors’ prospect clients. Founding EEFA Chapters is also planned for Ukraine and Kazakhstan.
EEFA’s major aim is providing contribution to factoring market growth in the countries of Eastern Europe and CIS. Holding annual conferences for factoring professionals is one of the best ways to achieving that aim.
To sum up, EEFA has by far successfully held six international conferences: those in Moscow (2001), in Saint Petersburg (2002), in Bucharest (2003), in Vilnius (2004), in Ljubljana (2005) and Sofia (2006). EEFA conferences are very much appreciated by factoring professionals and have already become remarkable events in international factoring world.
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