LCCI, EXIM to facilitate traders

LAHORE: The Lahore Chamber of Commerce and Industry (LCCI) and Export-Import Bank of the United States (EXIM) would work together to ensure an integrated approach to facilitate traders in Pakistan.
EXIM Bank Vice President of Global Business Development Raymond J. Ellis, at a meeting with LCCI leadership on Wednesday, said EXIM is the official export credit agency of the United States with a mission of supporting American jobs by facilitating the export of US goods and services.
He said that EXIM Bank fills in the financing gap for the US businesses by equipping them with the financing tools necessary to compete at a global level.
EXIM Bank offers team financing for international buyers of US capital goods and services and also provides US companies with Export Credit Insurance that extends credit and protects against buyer non-payment.
Speaking on the occasion, the LCCI said there are number of challenges to our importers and exporters who are regularly trading with their counterparts in USA and financial constraints are one of them. The duo agreed to facilitate traders on both sides.
U.S Consul General Zachary Harkenrider, Commercial Counselor Cheryl J. Dukelow, also spoke on the occasion.
EXIM Vice President also visited Punjab Board of Information Technology (PBIT) and explained that how EXIM fills the gap for businesses by equipping them with the financing tools necessary to compete for global sales, when private sector lenders are unable or unwilling to provide financing.
US Consul General, Mr. Zachary V Harkenrider appreciated Punjab Government’s initiatives regarding investment friendly environment and expressed to establish sound bi-lateral long-term relationship with Pakistan.
He asked the Punjab government to identify those companies which are interested in investing in IT and other sectors and said that US investors have shown keen interest to invest in Pakistan Power Projects including gas and biomass. Chairman PBIT acknowledged the delegation for such gracious investment initiatives.