Byron Shoulton
FCIA Management a wholly owned subsidiary of Great American Insurance Company, underwrites trade credit and political risk insurance policies. For 45 years, FCIA has provided coverage against commercial and political non-payment risks for companies and financial institutions around the world.
Shoulton joined FCIA in 1980 with a focus on the Latin America debt crisis and later assumed the responsibility for global risk analysis. Shoulton monitors global economic, trade and political trends impacting trade finance risks, conducting quarterly country rankings, and traveling globally to assess country risks. He speaks regularly at various trade seminars.
In addition, Shoulton publishes the monthly 'Major Country Developments' available to FCIA brokers and policyholders which is posted on FCIA's website.
Having seen the challenges facing the global economy first-hand, Shoulton notes the importance of cooperation in achieving a sustained recovery "The responsibility for implementing meaningful changes to risk taking will require input from many sources and must include an examination of the roles played by national regulators, banking systems, rating agencies, state regulators, multilateral agencies, individual banks as well as by companies who access & extend credit for trade."
The theme of this year's event, "World Economic Outlook," is especially timely given the current financial crisis affecting most major markets worldwide. The sharp increase in economic interdependence over the past 15 years led to major increases in international trade, to the benefit of many Maine companies. With worldwide trade activity in flux, and many of the G20 countries discussing tariff and not tariff barriers, many of Maine's companies will be venturing into uncharted territory. Understanding the current state of global markets, as well as what is required to affect change, is increasingly important for Maine businesses.
For more information on Maine International Trade Day visit www.mitc.com.