Japan’s Nippon Export and Investment Insurance (Nexi) and Sinosure, its Chinese counterpart, have signed a cooperation agreement. The agreement will aim to support projects jointly operated by Japanese and Chinese companies and exports by Japanese companies located in China.
Nexi chairman and CEO, Takashi Suzuki, and Sinosure president Wang Yi signed the memorandum of understanding (MOU) between the two institutions on November 18, 2009.
The agreement falls within Nexi’s initiative to promote reinsurance cooperation with public export credit agencies in the Asia Pacific region as part of its Asia Pacific trade insurance network.
According to a statement by the Japanese export credit insurer, Japanese companies are steadily increasing their business in China. Under these circumstances, the MOU is expected to support these businesses in the area of trade and investment by Japanese companies.
The MOU prescribes that Nexi and Sinosure will share information necessary for mutual cooperation, and that the areas of cooperation include reinsurance and debt recovery among others.
Reader Comments