New agreement signed with Mexico
- The Mexican National Foreign Trade Bank will collaborate with CAF to strengthen the Andean export sector.
- This is the second technical cooperation agreement with the Mexican financial organization since Mexico became a shareholder.
The agreement promotes new productive and trading companies for non-traditional products by strengthening financial support instruments, technical assistance and export promotion.
Mexico participates in the CAF capital as the first non-Andean country to join the institution. Exactly one month ago, CAF signed with Nacional Financiera - body authorized by the Mexican government to subscribe to 4,000 "C" series shares - a technical cooperation agreement which, along with the one signed today, open up for both Mexican and Andean exporters of goods and services an important market in projects of pre-investment studies and technical assistance, creation of industrial parks and free zones, as well as a fluid exchange of business, investments and financial and technological support.
The agreement – with a duration of two years - was signed in the CAF headquarters in Caracas by CAF President & CEO Galo Montaño and the director-general of BANCOMEXT, Humberto Soto. Both parties agreed to analyze cofinancing schemes for developing the exportable offer, designing promotion programs by economic sector, and permanent exchange of information on the commercial prospects offered by the Mexican and Andean markets.
At CAF’s request, BANCOMEXT will provide advice on areas such as information technology, international trading, market studies, export consortium, maquiladoras and overseas commercial offices, among others.
Line of credit
This credit will be used to finance businesses resident in any of the Andean countries which wish to import primary products, raw materials, durables, spare parts, and capital goods and services of Mexican origin.
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