City National Bank and the US commercial service of the federal department of commerce have announced a partnership targeted at increasing the level of exports from US businesses.
The partnership is designed to help simplify international trade, particularly for SME's on the west coast seeking to source and sell in the global marketplace.
"This partnership represents another step forward by City National Bank as we expand our efforts to grow international trade for the Western United States. The world is only getting smaller and this partnership will help us facilitate our clients' business success. The US Commercial Service is an excellent partner. We look forward to working with them," comments Robert Iritani, EVP, specialty banking, City National Bank.
City National bank provides trade services and credit facilities for established and profitable businesses, including working capital loans for export finance, import/export letters of credit, foreign exchange, and equipment financing to emerging market buyers of US equipment. It has existing relationships with the US Export-Import Bank, Bank of East Asia as well as several other financial institutions."City National Bank has a strong record of active support for global trade. We are pleased to join efforts as global partners helping the business community throughout California and Nevada take full advantage of foreign markets around the world. We recognise that, working together, the public and private sectors can do more to help both US exporters and the US economy grow and remain competitive," comments Israel Hernandez, assistant secretary for trade promotion and director general of the US and foreign commercial service.
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