LAHORE: The Export-Import (Exim) Bank of the United States pledged on Wednesday to partner with the Lahore Chamber of Commerce and Industry (LCCI) to develop trade between the US and Pakistan.

A meaningful longstanding partnership between the Exim Bank and the LCCI would help enhance bilateral trade and economic cooperation between the two countries, Exim Bank’s Vice President of Global Business Development Raymond J. Ellis said during a meeting with LCCI president Ijaz A Mumtaz and other officials.

The bilateral trade between the two countries stood at $5.55 billion in 2014 with Pakistan’s exports standing at $3.65bn. A news release issued later quoted officials of both the institutions that they would work together to ensure an integrated approach to facilitate importers and exporters in Pakistan.

Exim Bank plans, promotes and develops exports and imports of the US.

“The Exim is official export credit agency of the US,” Mr Ellis said.

LCCI President Ijaz Mumtaz urged the Exim Bank to develop a special package, including short-term, medium-term and long-term financing for Pakistani businessmen.

He said that easy procedure to apply for competitive financing and flexible repayment schedules will attract the attention of all.

Published in Dawn, May 28th, 2015

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