ECONOMY

Turk Eximbank now full member of Asian Exim Banks Forum

TURK EXIMBANK NOW FULL MEMBER OF ASIAN EXIM BANKS FORUM

Turk Eximbank has gained resident member status in the Asian Exim Banks Forum (AEBF), a regional group of export-import institutions, the bank announced on Wednesday.

Eleven member institutions including Turk Eximbank signed a framework agreement to open new back-to-back credit channels to each other, the bank said in a written statement.

Turk Eximbank has been a non-permanent member of the forum since 2015 and became a resident member at the forum's current meeting on Nov. 14-16 in Sydney, Australia.

Adnan Yildirim, the bank's acting CEO, said: "I believe that cooperation with AEBF members will increase the support provided by Turk Eximbank to Turkey's exports."

Turkey will host the forum's annual meetings in 2020, the bank stressed.

The first meeting of the group was held in India in 1996, meant to enhance cooperation among members, which led to the formation of the Asian Exim Banks Forum, according the forum's website.

The forum's other members are exim banks and credit agencies in Australia, China, India, Indonesia, Japan, South Korea, Malaysia, Philippine, Thailand, and Vietnam.

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