KUALA LUMPUR (Jan 9): Export-Import Bank of Malaysia Bhd (Exim Bank Malaysia) has inked a memorandum of understanding (MOU) with its Indonesian counterpart, Lembaga Pembiayaan Ekspor Indonesia (Indonesia Eximbank), to strengthen their business relationship, and to foster mutual understanding and close coordination through the exchange of information, experiences and business connections.  

Both 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 said in a joint statement on Monday (Jan 9).

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.

Exim Bank Malaysia president and chief executive officer Arshad Mohamed Ismail said both parties share a relationship that he hopes to take to greater heights, as they value the opportunity to collaborate and strengthen cooperation with each other.

“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,” he said.

Indonesia Eximbank executive director Riyani Tirtoso said the MOU 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," she said.

Both organisations, which are wholly owned by the respective governments, hold unique mandates.

Exim Bank Malaysia was established to provide credit financing, export credit takaful, guarantee services, and facilities to support the export and import of goods, services and overseas projects, as well as investments, with emphasis on non-traditional markets. Indonesia Eximbank’s main objective, meanwhile, is to boost national export growth and assist exporters in expanding their business capacity.