Kuala Lumpur, 18 February 2020 – Export-Import Bank of Malaysia Berhad (“EXIM Bank Malaysia”) entered into a multi-party collaboration when it signed a Memorandum of Understanding (MoU) between Thai and Malaysian institutions to promote Small and Medium Enterprise Businesses (SMEs) on both sides of the border to enhance their economic growth.
Witnessed by YB Datuk Wira Dr. Mohd Hatta Ramli, Malaysia’s Deputy Minister of Entrepreneur Development and Cooperatives (MEDAC), H.E. Jurin Laksanawisit, Thailand Deputy Prime Minister and Minister of Commerce, and H.E. Nipon Bunyamanee, Thailand Deputy Minister of Interior, the MoU was inked by the Heads of four Development Financial Institutions (DFIs); namely EXIM Bank Malaysia and SME Bank Malaysia and Export-Import Bank of Thailand, together with the Small and Medium Enterprise Development Bank of Thailand on 16 February 2020 in Narathiwat, Thailand.
The four institutions involved were represented by Dato’ Nazri Abdul Rahim, EXIM Bank Malaysia President/Chief Executive Officer; Mr. Aria Putera Ismail, SME Bank of Malaysia Group President/Chief Executive Officer; Mr. Pisit Serewiwattana, EXIM Bank Thailand President; and Ms. Nartnaree Rattapat, SME Bank Thailand Acting President.
Set to establish the foundation of collaboration for the joint benefit and promotion of Thai and Malaysian SMEs, the MoU will enhance the economic growth of SMEs that are the engines of growth to our nations, through common guidelines for the related participants. The MoU reaffirms the commitment by all participating institutions, particularly in their effort to integrate collaboration on trade, investment and SMEs of both countries, ranging from tourism, halal food, garments, jewelleries, including those involved in cross-border trade.
As the DFIs of the country mandated to promote SMEs and cross-border trade, this collaboration augurs well for all parties involved.
EXIM Bank Malaysia’s Dato’ Nazri said: “In line with our Prime Minister’s call for “Shared Prosperity” during APEC2020, EXIM Bank Malaysia believes that the signing of this multi-party agreement will pave the way for greater collaboration between DFIs on both sides of the border, 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.”
The signing ceremony was also attended by high-level representatives from the related DFIs and SMEs from Malaysia, as well as guests from the Board of Trade of Thailand and the Thai media.