EXIM Thailand inks MOU with SINSOURE; to provide risk, investment support

It aims to facilitate market penetration for Thai and Chinese exporters.

The Export-Import Bank of Thailand (EXIM Thailand) has signed a memorandum of understanding (MOU) with the China Export & Credit Insurance Corporation (SINOSURE) to enhance their cooperation in developing SINOSURE’s insurance business, as well as support Thai and Chinese investments in China and Southeast Asia.

Under the MOU, EXIM Thailand will extend its export credit and investment insurance facilities as risk management tools to SINOSURE.

The MOU also aims to facilitate market penetration for Thai and Chinese exporters and investors in CLMV (Cambodia, Lao PDR, Myanmar, and Vietnam) markets.

“This collaboration aims to safeguard Thai and Chinese entrepreneurs against international trade and investment risks, fostering confidence in expanding their export and investment activities in Thailand, China, and beyond worldwide,” EXIM Thailand said in a press release. 

ALSO READ: Thailand publishes rules for virtual bank license applications

EXIM Thailand and SINOSURE will also support the development of Thailand’s Eastern Economic Corridor at SINOSURE’s headquarters in Beijing, China.

EXIM Thailand president Rak Vorrakitpokatorn and SINOSURE president Sheng Hetai inked the MOU on 14 March 2024. Benjamin Sukanjanajtee, Chargé d’Affaires in the Royal Thai Embassy in Beijing was present during the event.

Vorrakitpokatorn revealed that the collaboration will include exchanging information and providing financial facilities, such as insurance and reinsurance programs.