Background and Objective
A number of export credit agencies were created during the course of economic development of many Asian countries in line with their governments' export-oriented strategy.
Over the years, Exim Banks / ECAs have evolved into widely different financial institutions depending upon the business environment in the respective countries, their foreign trade profile, country risk considerations, development of local financial markets.
To enhance cooperation and forge a stronger link among its member institutions, the first meeting of Asian Exim Banks was held in India, at the initiative of the Export-Import Bank of India (Exim India) in 1996, which led to the formation of the Asian Exim Banks Forum.
Since then the major Asian Exim Banks have been coming together for an Annual Forum to exchange information and share ideas in a structured manner. These meetings have become an annual event, hosted by a member Exim Bank by rotation.
The forum endeavours to share the expertise and knowledge gained by Asian ECAs amongst the members and explore possible areas of cooperation. It has served as an excellent platform for the CEOs of the Asian ECAs to discuss topics of interest, be it areas of cooperation amongst ECAs, information exchange, promoting intra-regional trade, response to global financial crisis, challenges and sustainable growth mechanisms, regional cooperation and connectivity amongst others. The members have entered into various bilateral and multilateral facilities and arrangements. The members have also executed reciprocal risk participation agreements amongst themselves promoting intra-regional trade.
The forum also provides a sound platform for knowledge sharing by way of training programs that have helped the staff of the member institutions learn the best practices in areas as diverse as project financing, capital markets, ship financing, SME financing, commodity financing, country risk, cross border investment, etc.
Presently, ECAs from 11 countries, namely, Australia, China, India, Indonesia, Japan, Korea, Malaysia, Philippines, Thailand, Turkey and Vietnam, are members of the forum with Asian Development Bank (ADB) being a permanent observer.