Citi Wins Dow Asia Pacific Trade Documentation Process Deal
Hong Kong – Citi has been awarded by Dow Chemical Pacific Ltd. and certain other subsidiaries of The Dow Chemical Company (collectively, "Dow Companies") a trade mandate for the preparation and processing of the documents relating to Dow Companies' trade transactions in Asia. The regional mandate covers Dow Companies in Hong Kong for shipments to China, Hong Kong, Indonesia, Japan, Korea, Philippines, Taiwan, Thailand and Vietnam.
Citi captured this export trade business opportunity by offering a customized end-to-end solution, from data collection, document preparation, export LC processing to collection of sales proceeds. The entire process, prepared documents and collection status can be viewed and monitored by Dow Companies via Citi's award-winning Internet platform, CitiDirect® Online Banking as well as a full suite of tailor-made management reports.
Andrew Au, Head of Global Commercial Bank, Asia Pacific, Citi, said, “Dow has given Citi a strong vote of confidence. We are delighted to be awarded by Dow as its service provider. Citi and Dow have a working relationship going back more than 80 years and this mandate marks another important milestone in our long-term partnership.”
The mandate win demonstrates Citi's strengths in offering innovative solutions, cross-border servicing capabilities as well as long-term strategic partnership with its clients, all of which help adding values to clients' business growth. It also further establishes Citi's position in the region as a pioneer of offering trade document preparation outsourcing to companies.
“Holding the belief that the client's success is our success, we will continue to make use of our global network, good track record and professionalism for achieving clients' business goals and driving them towards financial success,” added Au.
Dow is a diversified chemical company that harnesses the power of innovation, science and technology to constantly improve what is essential to human progress. The Company offers a broad range of products and services to customers in more than 175 countries, helping them to provide everything from fresh water, food and pharmaceuticals to paints, packaging and personal care products. Built on a commitment to its principles of sustainability, Dow has annual sales of $49 billion and employs 43,000 people worldwide. References to “Dow” or the “Company” mean The Dow Chemical Company and its consolidated subsidiaries unless otherwise expressly noted. More information about Dow can be found at www.dow.com.
Citi, the leading global financial services company, has some 200 million customer accounts and does business in more than 100 countries, providing consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Major brand names under the trademark red arc include: Citibank, CitiFinancial, Primerica, Citi Smith Barney and Banamex. Additional information may be found at www.citigroup.com or www.citi.com.