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Annual Report 2007-08
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:: PRESS RELEASES |
Exim Bank Signs Memorandum Of Cooperation With
Ashra - The Israel Export Insurance Corporation For Supporting Bilateral Trade And Investment Relations
Export-Import Bank of India (Exim Bank) and The Israel Export Insurance Company (ASHRA) have signed a memorandum of cooperation for supporting trade and investment between the two countries. The cooperation is a part of Exim Bank's endeavour to support Indian enterprises in their globalization efforts.
Exim Bank, an apex financial institution, seeks to create export capabilities and international competitiveness with particular focus on small and medium enterprises (SMEs) in India, through wide range of financing and support services. In addition, the Bank seeks to help Indian enterprises, particularly in the SME sector, to establish their products overseas and enter new markets by helping them in their export efforts by proactively assisting in locating overseas buyers/partners for their products/services.
The MoC was signed by Mr. S R Rao, Executive Director, Exim Bank and Mr. Arnon Ikan, Chief Executive Officer, ASHRA, Israel. Through such partnership, the two organizations would support entrepreneurs from both sides to fund and insure their transactions, thus facilitating and increasing trade flows between the countries.
The objectives of this cooperation include:
- Exchanging information on trade, business and investment opportunities to facilitate increased cooperation between Israel and India;
- Locating suitable joint ventures / trade partners to enhance trade and investment;
- Keeping abreast of latest developments through exchange of publications and literature;
- Assisting each other in areas such as SME development and export promotion; and
- Organising seminars / workshops, designing export marketing seminars for SMEs in Israel and India, and exchange of faculty.
At the signing ceremony, Ms. Orna Sagiv, Consul General of Israel in Mumbai, said this cooperation initiative is just a beginning of strengthening relationship in the institutional credit and guarantee mechanism between these countries. Mr. S. R. Rao, Executive Director, Exim Bank remarked that the partnership would eventually serve to incubate and scale-up SMEs in technology oriented sectors, and promotion of their products which have the potential for exports.
For further information, please contact
Mr. S. Prahalathan,
General Manager,
Export Services Group,
Export-Import Bank of India,
Centre One Building, Floor 21,
World Trade Centre Complex, Cuffe Parade,
Mumbai 400 005.
Telephone: (022) 22160364,
Fax:(022) 22180743.
E-mail:prahalathan@eximbankindia.in
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