Turk Eximbank looks for more international cooperation
- ANADOLU AGENCY, ISTANBUL
- Feb 19, 2018
Turk Eximbank has stepped up its roadshows to boost medium- and long-term financing support for Turkish exporters.
CEO Adnan Yıldırım said that they were going to hold a number of roadshows in the U.S., Europe, and Asia.
"We're working on medium- and long-term funding with a number of banks and financial institutions in several European countries, Japan, China and the U.S.," Yıldırım said.
He added that the roadshow programs in New York, Boston, and Los Angeles will begin on Feb. 21.
"After the U.S., we plan to take our road show to several European countries, which can be important sources of funds."
Turk Eximbank wants to improve the opportunities for direct funding, increase bilateral trade, and pave the way for Turkish firms' to carry out joint programs in Asia and Africa, he said.
Yıldırım said the bank has secured a number of agreements with counterparts in Britain, France, Belgium, and Thailand. He added that they were planning to increase cooperation with Asian countries and were negotiating with Hungary, Indonesia, Denmark, China, and Saudi Arabia.
"We have signed an agreement with Japan's credit insurance and guarantee institution NEXI. We also organized road shows with Mizuho Bank and Bank of Tokyo Mitsubishi, hosting some 30 Japanese lenders and financial institutions last year."
"I hope to see some positive results this year," he said.
Meanwhile, Turk Eximbank and the Japan Bank for International Cooperation (JBIC) signed Friday a memorandum that would promote investor and exporter collaboration between the two countries in current and potential markets.
Yıldırım said the bank was playing an important role in supporting Turkey's efforts in Africa.
"We are working with Sudanese public institutions and the private sector to boost trade between the two countries."
"Last year, we supported Turkey's exports with $39.3 billion, around 25 percent of all exports. This year we want to raise that amount by around 17 percent and reach $46 billion, 27 percent of all exports," he said, adding that Turk Eximbank hopes to match or surpass the performance of South Korea Eximbank in 2018.
"We are determined to follow our 27 percent target by the end of the year."
Globally, Turk Eximbank ranks second only to South Korea's Eximbank in terms of financing exports.
The Turk Eximbank CEO said that it organizes all services under one roof while other countries have more than one institution providing these services.
"The bank distinguishes itself from other eximbanks by supporting all necessities including direct finance, insurance, guarantees, and letters backing exporters and project firms.
"It works to make Turkish firms more competitive in the region as well as in the Middle East and Asia," he said.
Since its inception in 1987, Turk Eximbank has carried out international credit, guarantee, and credit insurance programs aimed at developing Turkey's economic and political relations with other countries.