Export-Import Bank of Malaysia has signed a collaborative deal with India's ICICI Bank and YES Bank, to further enhance Malaysia-India trade.
Exim Bank will provide credit lines to ICICI Bank and YES Bank to facilitate the imports of goods from Malaysia.
“It is hoped with this enabling financing infrastructure, Exim Bank can partake in increasing the movement of goods and services between the two countries,” said Exim Bank managing director and chief executive officer, Datuk Adissadikin Ali.
Although, the facility is open to all manufactured goods and commodities from Malaysia, it is envisaged that palm oil will be among the leading sector that will benefit from the scheme in view of the importance of Indian market to Malaysia's palm oil.
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