Forergn Trading business become more popular two

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Quantity:
0
Shipping Terms:
FOB
Date Posted:
2012-02-22
Expires:
2013-02-22
Status:
Expired

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The bank offers a range of corporate, investment, business and personal banking products and is regularly working on major capital market deals. Ties between the group and the Industrial and Commercial Bank of China (ICBC) were strengthened through last year's visit of ICBC chairman, Jiang Jianqing, to its Stanbic offices.

'Nigeria has great potential throughout every sector. Reliability, trust and transparency are highly important in financial sector operations,' said Chris Newson, Stanbic IBTC Bank Plc CEO.

'The successful visit of Jiang Jianqing was a very important step for us as our aim was to showcase Nigeria and create an understanding of how the country functions. We believe in Nigeria and that is why we have invested more than $600 million here as we see the long-term potential.'

Founded 19 years ago, the Nigerian Export-Import Bank (NEXIM) is at the core of the country's trade-oriented activities through the provision of loans to exporters. The bank provides short-term guarantees for loans granted by Nigerian banks to exporters, and offers credit insurance against the event of non-payment by foreign buyers.

The government-owned bank has extended its reach to China through high-level talks and deals with Chinese financial institutions such as the Export-Import Bank of China.

'We were looking for international partners and the first one we saw was China Eximbank,' said Roberts Orya, NEXIM MD and CEO.

'We visited China to identify areas of cooperation and want to strengthen our relationship with the appropriate banking institutions there.'

Orya expects NEXIM to sign memorandums of understanding in order to boost bilateral trade deals.

'Nigeria is a land of opportunities and NEXIM is the large bridge that connects the two sides,' he added. 'China has huge business potential and when our clients tell us they plan to buy heavy equipment, we always advise them to buy Chinese-made machinery as the quality is excellent and the price very rea

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