EXIM Thailand and SME BANK expand mutual cooperation to provide fully-integrated international trade financing services to enhance SME production capability and competitiveness in the global marketplace. Apart from import financing for machinery purchase, EXIM Thailand will also issue standby letter of credit to support SME investments abroad in line with the Bank’s new proactive role in national development.
Dr. Apichai Boontherawara (second right), President of Export-Import Bank of Thailand (EXIM Thailand), and Mr. Pongsak Chewcharat (second left), President of Small and Medium Enterprise Development Bank of Thailand (SME BANK), signed an Export Financial Support Contract at EXIM Thailand Head Office on April 30, 2008.
The contract set out an extended scope of work to be done collaboratively by the two banks. Under this pact, EXIM Thailand agrees to provide SME BANK clients with fully-integrated financial services for export, import and overseas investment promotion. To nurture SMEs’ domestic trading, EXIM Thailand will offer domestic letter of credit (DL/C) opening service to SME BANK clients. This facility is aimed to help improve
SME BANK clients’ manufacturing capability and sharpen their competitive edge in the global market. Meanwhile, in favor of Thai SMEs’ overseas investment expansion, EXIM Thailand also provides standby letter of credit (SBL/C) issuance service upon request by SME BANK clients including bid bond, performance bond, and advance payment guarantee.
“As state-owned specialized financial institution, EXIM Thailand, in cooperation with SME BANK, has assumed another proactive role in providing SMEs with better access to fully-integrated financial facilities which, hopefully, will make Thai SMEs better prepared for the opportunities and hurdles in the international trade and investment arena,” said Dr. Apichai.