EXIM Bank Signs MoU With Kazakhztan's Counterpart

KUALA LUMPUR, June 27 (Bernama) -- Export- Import Bank of Malaysia Bhd (EXIM Bank) Tuesday signed a memorandum of understanding on cooperation and reinsurance with its counterpart in Kazakhstan, State Insurance Corporation for the Insurance of Export Credit and Investment.

In a statement here Tuesday, EXIM Bank said the MoU aimed to establish a framework for a strong cooperation in supporting and encouraging trade as well as investment between the two countries.

"The cooperation will involve the exchange of information and increase cooperation in their respective activities, particularly in the field of export credit or investment insurance and guarantees.

"It will also include requests for information on markets, companies, banks and buyers of the two countries; identify eligible transactions/projects which are deemed suitable for support; assist on legal matters and in recovery of debt; and, enhance technical skills and knowledge of staff through exchange programme and training," it said.

EXIM Bank hoped the agreement would allow it to be more aggressive in supporting export of goods and services to Kazakhstan.

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