Export-Import Bank of Malaysia Berhad (“MEXIM”) has entered into a Memorandum of Understanding (MoU) with Lembaga Pembiayaan Ekspor Indonesia (“Indonesia Eximbank”), to strengthen cooperation in business relationships between the parties, as well as to foster mutual understanding and close coordination through exchange of information, experiences and business connections.
The parties recognise the growth potential and investment opportunities between Malaysia and Indonesia, and are keen to maintain an active dialogue and streamlined communication channel for referrals of projects of mutual interest. They will also explore training and secondment opportunities in credit, risk underwriting, and documentation, on top of considering joint client outreach programmes to facilitate bilateral trade growth.
Indonesia Eximbank is a special financial institution established under the Government of the Republic of Indonesia in accordance with Law No. 2 of 2009 on Lembaga Pembiayaan Ekspor Indonesia which aims to accelerate national export growth through National Export Financing (PEN), which consists of Financing, Guarantee, Insurance, and Advisory Services.
Moreover, Indonesia Eximbank has also been mandated to conduct National Interest Account upon the expense of the Government to support the strategic industry of Indonesia.
At the signing event, MEXIM was represented by President/Chief Executive Officer Arshad Ismail, while Indonesia Eximbank was represented by its Executive Director Riyani Tirtoso.
The MoU signing ceremony was witnessed by Prime Minister of Malaysia Dato’ Seri Anwar Ibrahim. Also present at the event was the Chairman of MEXIM Dato’ Azman Mahmud.
Commenting on the occasion, Arshad said: “MEXIM and Indonesia Eximbank share a relationship that we hope to take to greater heights as we value the opportunity to collaborate and strengthen the cooperation we have with them. I consider Indonesia Eximbank a particularly important partner and look forward to maintaining an active dialogue and communication channel for continued business and referral projects.”
Sharing her view on this MoU, Riyani said: “The MoU between Lembaga Pembiayaan Ekspor Indonesia/Indonesia Eximbank and MEXIM will enable the two institutions to overcome economic development challenges by providing market-oriented innovative products in a sustainable manner from economic, social and environmental aspects. This collaboration also aims to increase the capacity of both parties so that Indonesia and Malaysia are able to open wider market access, which is not only between these two countries, but we will also work together to unlock markets with other countries. Together, we will support business investment and remain resilient in a competitive market.
Both organisations hold unique mandates; MEXIM was established to provide credit financing, export credit takaful, guarantee services, and facilities to support exports and imports of goods, services and overseas projects and investments with emphasis on non- traditional markets. On the other hand, Indonesia Eximbank’s main objective is to boost national export growth and assist exporters in expanding their business capacity. Both banks are wholly owned by their respective Governments.
