AP, Exim Bank ink pact for export promotion

Hyderabad: Exim Bank of India said it signed a Memorandum of Understanding (MoU) with Andhra Pradesh government for promotion of exports from the State. Under the agreement, Exim Bank will support the exporters having operations in Andhra Pradesh in achieving higher exports by facilitation of market linkages through its market advisory services, which will assist in identifying suitable partners.

Besides, the bank would help develop skills through capacity building workshops, help the exporters’ participation in select trade fairs and exhibitions, and through research activities. Exim Bank would also use its strong institutional linkages that it has developed over the years with institutions in advanced markets like USA, Singapore, Japan, Australia, EU, etc, and facilitate technology transfer to the technology-seeking enterprises in AP.

Through its Regional Office in Hyderabad, the bank is desirous of further extending funding facilities to exporters from the State so as to provide them opportunity to access the global market, the bank said in a release. The MoU was signed by Yaduvendra Mathur, Chairman and Managing Director of the bank, and Shamsher Singh Rawat, Secretary and Commissioner for Industrial Promotion, Andhra Pradesh.