Nanning, China, 26 September 2024 – Export-Import Bank of Malaysia Berhad (“EXIM Bank Malaysia”) and the Malaysia Chamber of Commerce in China (“MAYCHAM”) have taken a significant step towards enhancing bilateral business relations through the official exchange of Memorandum of Understanding (MoU) documents at the 21st China-ASEAN Expo (CAEXPO 2024) at Nanning, China. The MoU focused on deepening collaboration in trade financing, investment facilitation, and knowledge sharing to promote Malaysian businesses in China and the broader ASEAN region.

The exchange was witnessed by the Malaysian Minister of Transport, Anthony Loke and attended by other officials from EXIM Bank Malaysia and MAYCHAM. This strategic partnership will provide Malaysian entrepreneurs with improved access to financing and business advisory services, fostering opportunities for growth in China’s competitive market.

Hasrin Abdul Rahim, Chief Operations Officer of EXIM Bank Malaysia, emphasised the importance of the partnership: “We are delighted to exchange these MoU documents with MAYCHAM, as it signifies our shared commitment to supporting Malaysian businesses on the global stage. This collaboration opens up new avenues for Malaysian exporters and investors, providing them with the tools and support necessary to succeed in China and across ASEAN.”

Loh Wee Keng, MAYCHAM’s Chairman, also expressed optimism about the collaboration: “The exchange of MoU documents with EXIM Bank is a powerful testament to our joint efforts in driving Malaysia’s global trade growth. By combining our resources and expertise, we can offer Malaysian businesses the essential support they need to thrive in China’s vast market.”

To this end, EXIM Bank is offering the government’s RM1.0 billion Exporters’ Development Incentive Scheme (SIP2), which provides a 1.5% subsidy on financing rate for Malaysian exporters and entrepreneurs, to encourage businesses to seize international opportunities and benefit when they export. To date, EXIM Bank has extended RM215 million for 37 companies that have benefited from this scheme.

Launching the “Buy Malaysian, Support Local Businesses Abroad” Campaign

In conjunction with CAEXPO 2024, the “Buy Malaysian, Support Local Businesses Abroad” campaign was launched by Hasrin Abdul Rahim and Jai Shankar, Senior Director, Export Promotion & Market Access Division of Malaysia External Trade Development Corporation (MATRADE). The event was witnessed by Mohamad Haris Abdul Latiff, Trade Consul/Trade Commissioner, Consulate General of Malaysia in Guangzhou of MATRADE, and Steven Hou, President and CEO of OPB (Overseas Prominent Brand) China.

This initiative is aimed at promoting local Malaysian products and services to the global market, encouraging businesses globally, as well as Malaysians overseas to support these Malaysian businesses and recognise the quality and value of these offerings.

“Our commitment to the campaign reflects our dedication to enhancing the export potential of Malaysian businesses. This initiative is a critical part of our strategy to empower local businesses and help them establish a strong presence in international markets,” added Nurbayu Kasim Chang, Acting President and Chief Executive Officer of EXIM Bank Malaysia.

In addition, EXIM Bank Malaysia facilitated a series of business matching sessions, providing 11 Malaysian exporters with direct access to close to 11 potential buyers, partners, and investors from China, in sectors such as Food and Beverages, Beauty and Healthcare. These sessions offered invaluable opportunities to foster business relationships, strengthen trade ties, and explore investment possibilities.

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About EXIM Bank of Malaysia Berhad

The Export-Import Bank of Malaysia Berhad (EXIM Bank) was incorporated on 29 August 1995 and is wholly-owned by the Government of Malaysia. The Bank has assisted a diverse range of Malaysian business in various sectors in their global ventures.  EXIM Bank takes pride in meeting its mandated role of stimulating and enhancing the competitiveness of Malaysian industries for exports and investments globally via the provisioning of internationally and domestically competitive banking and insurance products and advisory services. The Bank also offers Shariah-compliant financing and Takaful instruments. For more information, visit www.exim.com.my.