EXIM Thailand has collaborated with FedEx, a global provider of express transportation and one of the world's largest express transportation companies, to promote international trade among Thai entrepreneurs and SMEs via a digital platform. EXIM Thailand aims to offer both export credit and export credit insurance facilities.
Mr. Pisit Serewiwattana, President of Export-Import Bank of Thailand (EXIM Thailand), revealed that EXIM Thailand had entered into a Memorandum of Understanding (MOU) with FedEx Express International (Thailand) Limited (FedEx) to promote Thailand's international trade via a digital platform. The MOU promotes mutual cooperation towards data connection and activities to provide entrepreneurs, especially Small and Medium Enterprises (SMEs), with in-depth international trade knowledge and better access to international business opportunities. EXIM Thailand will provide funding and financial advice and a risk-hedging facility to facilitate international trade so small businesses can trade online with confidence and without concerns about payment defaults by overseas buyers. FedEx will support EXIM Thailand's customers by offering logistics solutions for fast and reliable delivery and access to markets in the domestic and international network. FedEx Express serves customers in more than 220 countries and territories.
"The collaboration between EXIM Thailand and FedEx is expected to grow Thailand's international trade by more than 5 billion baht a year. This collaboration will enable both companies to be more responsive to behaviors of today's consumers who look for goods and services that are made available on safe and speedy platforms. This strategic alliance supports the Bank's strategy of developing and expanding Thai trade and investment globally, to help drive Thailand's export and economic recovery," added Mr. Pisit.