EURO TRADE FORFAITING INC
3, 2000-12-06
FINANCE SERVICES
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                     U.S. SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

             INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

                                     FORM 3

  Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or Section
                30(f) of the Investment Company Act of 1940


1.   Name and Address of Reporting Person*   SIMON LAW
                                             FLAT C, 2/F FU BON COURT
                                             32 FORTRESS HILL ROAD
                                             FORTRESS GARDEN, HONG KONG


2.   Date of Event Requiring Statement (Month/Day/Year)     11/27/2000


3.   IRS Identification Number of Reporting Person, if an Entity
     (Voluntary)


4.   Issuer Name and Ticker or Trading Symbol   EURO TRADE & FORFAITING,
                                                INC. ("ETFC")


5.   Relationship of Reporting Person to Issuer (Check all applicable)

             X   Director                            10% Owner
           -----                               -----
                 Officer (give title below)          Other (specify below)
           -----                               -----


6.   If Amendment, Date of Original  (Month/Day/Year)     N/A


7.   Individual or Joint/Group Filing (Check applicable line)

            X   Form Filed by One Reporting Person
          -----

                Form Filed by More Than One Reporting Person
          -----


TABLE I - Non-Derivative Securities Beneficially Owned

1.   Title of Security (Instr. 4)                    N/A


2.   Amount of Securities Beneficially Owned (Instr. 4)


3.   Ownership Form:  Direct (D) or Indirect (I) (Instr. 5)


4.   Nature of Indirect Beneficial Ownership (Instr. 4)


(*)  If the form is filed by more than one Reporting Person, see Instruction
     5(b)(v).
     Reminder:  Report on a separate line for each class of securities
                beneficially owned directly or indirectly.


<PAGE> 2


Form 3 (continued)

TABLE II - Derivative Securities Beneficially Owned (e.g., Puts, Calls,
           Warrants, Options, Convertible Securities)


1.   Title of Derivative Security (Instr. 4)                    N/A


2.   Date Exercisable and Expiration Date (Month/Day/Year)

          Date Exercisable                  Expiration Date


3.   Title and Amount of Securities Underlying Derivative Securities
     (Instr. 4)

          Title                     Amount or Number of Shares


4.   Conversion or Exercise Price of Derivative Security


5.   Ownership Form of Derivative Security:  Direct (D) or Indirect (I)
     (Instr. 5)


6.    Nature of Indirect Beneficial Ownership (Instr. 5)


Explanation of Responses:


                    /s/ SIMON LAW                        November 30, 2000
                    ---------------------------------    -----------------
                    Signature of Reporting Person (**)   Date
                    SIMON LAW
                    DIRECTOR


-------------------------
** Intentional misstatements or omissions of facts constitute Federal
   Criminal Violations.
   See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note:  File three copies of this Form, one of which must be manually signed.
       If space provided is insufficient, see Instruction 6 for procedure.


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