Turk Eximbank, Japanese bank ink deal

By Tuba Sahin and Gokhan Ergocun

ISTANBUL (AA) - Turk Eximbank and Japan Bank for International Cooperation (JBIC) on Friday signed a memorandum of understanding (MoU) to pave the way for investors and exporters of the two countries to collaborate in current and potential markets.

Turkish and Japanese companies, which are cooperating in the sectors of industry and infrastructure in other countries, will be supported within the scope of the MoU signed in Istanbul.

The deal also targets to encourage the firms to get into partnerships to supplement each other.

JBIC, a policy-based financial institution, contributes to the development of Japanese and international economy. The bank conducts lending, investment and guarantee operations while complementing the private sector financial institutions.

Since Turk Eximbank's establishment in 1987, it conducts international credit, guarantee and credit insurance programs aimed at developing economic and political relations between Turkey and other countries.

Turk Eximbank ranks the world’s second after South Korean Eximbank among other export-import banks, in terms of the rate of financing exports.