Exim Bank inks MoU with Thai counterpart

By DARMINAA UTHAYAKUMAR

THE Export-Import Bank of Malaysia Bhd (Exim Bank) has signed a memorandum of understanding (MoU) at Narathiwat, Thailand, to enhance the Thai and Malaysian development financial institutions (DFI) relationship.

Exim Bank Malaysia president and CEO Datuk Nazri Abdul Rahim, SME Bank Malaysia group president and CEO Aria Putera Ismail, Thailand Exim Bank president Pisit Serewiwattana and SME Bank Thailand acting president Nartnaree Rattapat represented the institutions for the ratification on Feb 16.

The signing of the MoU is expected to establish groundwork of the collaboration, so that both Malaysia and Thailand’s small and medium enterprises (SMEs) will benefit by being the generator of growth for their respective economies.

In addition to that, the commitment of all participating institutions are affirmed by the MoU, especially those who aim to integrate collaboration on trade, investment and SMEs of both countries, ranging from tourism, halal food, garments, jewelleries and those involved in cross-border trade.

Nazri, inspired by Prime Minister Tun Dr Mahathir Mohamad’s call for “Shared Prosperity” at the Asia- Pacific Economic Coorperation 2020 said: “Exim Bank Malaysia believes that the signing of this multi-party agreement will pave the way for greater collaboration between DFIs on both sides, as we jointly promote and support SMEs in growing their businesses beyond their local markets.

“As a cross-border facilitating DFI, Exim Bank Malaysia aims to be the preferred financier for these aspiring global businesses by facilitating and offering them avenues for growth with our various trade financing, credit insurance and advisory services.”

Deputy Entrepreneur Development and Cooperatives Minister Datuk Dr Mohd Hatta Ramli, Thailand Deputy Prime Minister and Minister of Commerce Jurin Laksanawisit and Thailand Minister of Interior Nipon Bunyamanee attended the signing ceremony where representatives from the DFIs and SMEs from Malaysia, as well as guests from the Board of Trade of Thailand and the Thai media were present.

The DFIs have been endorsed to promote the SMEs and the crossborder trade that are indicated to go well for parties involved.