The Indonesian Export Financing Agency (LPEI)/Indonesia Eximbank signed a Memorandum of Understanding (MoU) with the Export-Import Bank of Malaysia (MEXIM) on 8 January 2023 in Jakarta. This signing was carried out as part of the Prime Minister of Malaysia's state visit to Indonesia on 8-10 January 2023. The signing of the MoU was carried out by Rijani Tirtoso, Executive Director of LPEI with Arshad Ismail, President/Chief Executive Officer, and witnessed by MEXIM Chairman Dato' Azman Mahmud. It was followed by a MoU exchange ceremony witnessed by Malaysian Prime Minister Dato' Seri Anwar bin Ibrahim and Indonesian Minister of Foreign Affairs Retno L.P. Marsudi, Indonesian Minister of Public Works and Public Housing Basuki Hadimuljono, coincided with the Letter of Intent Handover & MoU Exchange Ceremony. Rijani said that the MoU between LPEI and MEXIM will enable the two institutions to address challenges of economic development by providing market-oriented innovative products in a sustainable manner from economic, social and environmental aspects.
"This collaboration also aims to increase the capacity of both parties, so that Indonesia and Malaysia are able to open wider market access, which is not only between Indonesia and Malaysia, but these two countries will also work together to open markets with other countries. LPEI and MEXIM together will support business investment and remain resilient in a competitive market," Rijani said in a statement, Monday (9/1). LPEI's collaboration with MEXIM is also expected to become an efficient communication channel for referrals of mutually beneficial projects in order to explore opportunities for exchanging information related to export activities; benchmarking cooperation, business training and secondment in credit, risk guarantees, expanding customer outreach; also cooperate in providing services for both parties such as L/C confirmation, L/C insurance, trade refinancing, reinsurance facilities. Meanwhile, Arshad said MEXIM and Indonesia Eximbank will be even closer in establishing a relationship because we appreciate the opportunity to collaborate and strengthen the cooperation we have. Indonesia Eximbank is a very important partner and we hope to maintain active dialogue and communication for sustainable referral businesses and projects." According to him, LPEI as a Special Mission Vehicle (SMV) under the Indonesian Ministry of Finance, continues to encourage national export growth and assist exporters in expanding their business capacities through financing mandates, guarantees, insurance and advisory services.
