FNB predicts export boom in 2011

CURRENT INVESTMENT in fixed capital is set to generate increased manufacturing capacity in the near future with economists forecasting an export boom for 2011, according to new FNB International Banking CEO, Steven Matthews. Commenting on the challenges for crossborder trade, Matthews told Western Cape entrepreneurial clients last week that foreign exchange rates, exchange control and international payment fluctuations rated among the top three, while in the global arena recent changes had impacted on the local trading and currency environment. “We are seeing new trading partners and growth in trade with the likes of China, Brazil and India. Trade flows are changing, and there is more foreign direct investment in South Africa,” he said. FNB International Banking will centralise core banking services to drive efficiencies in processing within the five major business hubs in SA, and decentralise International Banking Specialists with the support of 48 satellite International Banking Centres around South Africa.