The African Export-Import Bank (Afreximbank) and the World Trade Center Miami Inc (WTCM) have signed a three-year memorandum of understanding (MoU) that will enable the two institutions benefit from each other’s knowledge, experience and capabilities in pursuing the expansion of US-Africa business relationships.
Under the terms of the MoU, signed on 12 July during the Afreximbank Annual Meetings and 25th Anniversary Celebrations taking place in Abuja, Afreximbank and WTCM will use their resources to strengthen the commercial partnership between countries in the Americas and Africa.
They will collaborate in Miami, the United States, the Americas and throughout Africa to mobilize public and private sector support and resources to grow the opportunities for two-way trade and investment.
“Afreximbank’s Trade Fairs and trade shows are an important element in our strategy to develop and expand intra- and extra-African trade through the networking, guidance, information and deal making opportunities that they provide,” said Dr. Benedict Oramah, President of Afreximbank, at the signing ceremony. “Afreximbank is developing its offices into iconic business complexes, branded ‘Afreximbank – African Trade Centres’, with one-stop trade services shops, which will include auditoriums, conference centres, trade information centres, export credit agencies, commercial banks and small business innovation and incubation hubs.”
“Afreximbank will work with the World Trade Center Miami to access the World Trade Centre Association’s platform and its global network in order to develop our Afreximbank-African Trade Centres. WTCM will also work with us to promote the Intra-African Trade Fair and other trade shows organised by the Bank. They will provide advisory, counselling, marketing and guidance for our trade show planning.”
WTCM is a member of the World Trade Centres Association, the preeminent global trade organization promoting two-way trade and facilitating import/export activities between the Western Hemisphere and other global markets through trade shows, trade and logistics assistance programs, educational programs and other special events.
More than 100 speakers, including heads of state, ministers, central bank governors, director generals of international trade organisations, business leaders, African and global trade development experts and academics, are speaking during the Afreximbank Annual Meetings and 25th Anniversary Celebrations taking place from 11 to 14 July.
About Afreximbank: The African Export-Import Bank (Afreximbank) is the foremost pan-African multilateral financial institution devoted to financing and promoting intra- and extra-African trade. The Bank was established in October 1993 by African governments, African private and institutional investors, and non-African investors. Its two basic constitutive documents are the Establishment Agreement, which gives it the status of an international organization, and the Charter, which governs its corporate structure and operations. Since 1994, it has approved about $60 billion in credit facilities for African businesses, including about $8.5 billion in 2017. Afreximbank had total assets of $11.9 billion as at 31 December 2017 and is rated BBB+ (GCR), Baa1 (Moody’s), and BBB- (Fitch). The Bank is headquartered in Cairo. For more information, visit: www.afreximbank.com
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