Exim Bank inks MoU with Andhra to boost state's exports

Export-Import (Exim) Bank said it has entered into a memorandum of understanding (MoU) with Andhra Pradesh to promote exports from the state, reported PTI.

The MoU was signed by Exim Bank Chairman and Managing Director Yaduvendra Mathur and Shamsher Singh Rawat, Secretary and Commissioner for Industrial Promotion, Andhra Pradesh.

"Exim Bank seeks to 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", Exim Bank said in a release.

Also, the bank would help develop skills through capacity building workshops, help exporters' participation in select trade fairs and exhibitions, and through research activities.

Exim Bank said it would also use its strong institutional linakges it has developed over the years with institutions in advanced markets -- USA, Singapore, Japan, Australia, EU, etc.

It said linkages will help facilitate technology transfer to the technology-seeking enterprises in Andhra Pradesh.

Exim Bank said it will further extend funding facilities to exporters from the state so as to provide them opportunity to access the global market.