Ex­im­banks vow co­op­er­a­tion for risk di­ver­si­fi­ca­tion

The Korea Times - - FINANCE - By Park Jae-hyuk [email protected]­re­atimes.co.kr

The Ex­port-Im­port Bank of Korea (Ex­im­bank) has been hold­ing the three-day Asian EXIM Banks Fo­rum on Jeju Is­land, the state-run bank said Wednesday.

The fo­rum was launched in 1996 to boost ties among ex­port credit agen­cies (ECAs) in Asia.

It is com­prised of ECAs of 11 Asian coun­tries and the Asian Devel­op­ment Bank (ADB) which par­tic­i­pates as a per­ma­nent observer. The 11 coun­tries are Korea, China, Ja­pan, the Philip­pines, In­dia, In­done­sia, Viet­nam, Thai­land, Malaysia, Turkey and Aus­tralia.

The event, which started Tues­day, has been at­tended by the 11 ECAs and four ob­servers, the ADB rep­re­sent­ing Asia, the U.K. Ex­port

Fi­nance rep­re­sent­ing Europe, Ex­port Devel­op­ment Canada rep­re­sent­ing the Amer­i­cas, and the Abu Dhabi Fund for Devel­op­ment rep­re­sent­ing the Mid­dle East.

They dis­cussed mea­sures to en­hance co­op­er­a­tion in or­der to over­come un­cer­tain­ties in the global econ­omy, un­der the theme, “Re­vis­it­ing Asian ECAs’ role in shift­ing global eco­nomic land­scape.”

On Tues­day, the first day of the fo­rum, the first high-level meet­ing of ECAs from Korea, China and Ja­pan took place.

Dur­ing the meet­ing at­tended by Ex­im­bank CEO Bang Moon-kyu, Ja­pan Bank for In­ter­na­tional Co­op­er­a­tion Deputy Gov­er­nor Nobu­mitsu Hayashi and Ex­port-Im­port Bank of

China Vice Pres­i­dent Sun Ping, the three ECAs agreed on co-fi­nanc­ing for their en­tries into the in­fra­struc­ture mar­kets in other coun­tries. They will also or­ga­nize a com­mit­tee to in­spect this plan on a reg­u­lar ba­sis.

“Con­sid­er­ing the grow­ing un­cer­tain­ties, co­op­er­a­tion among the Asian ECAs has be­come nec­es­sary,” Bang said dur­ing Wednesday’s fo­rum.

Cour­tesy of Ex­im­bank

Ex­port-Im­port Bank of Korea (Ex­im­bank) CEO Bang Moon-kyu, cen­ter, joins hands with ex­ec­u­tives of ex­port credit agen­cies from 15 coun­tries dur­ing the 2019 Asian EXIM Banks Fo­rum at the Shilla Ho­tel Jeju, Wednesday.

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