Seylan Exim Co., NCE ink MoU

The NCE and Seylan Exim Co. (Pvt) Ltd signed a Memorandum of Understating that will assist export enterprises to obtain overseas market information and access to buyers through their overseas trade networks.

Export enterprises will be further assisted through the provision of LC facilities, Revolving Import Loans, Packing Credit Loans, Term Loans etc. to assist entrepreneurs with their export activities.

However in Sri Lanka such a specialised institution is non-existent, as attempts to set up an EXIM Bank by the some years ago had not been successful.

At that time Development Banks such the NDB DFCC provided Exim Bank Services to export enterprises to a limited extent.

However with these Development Banks assuming commercial banking functions a void has been created, for export enterprises to obtain specialised services for the export import trade at one point.

The two institutions will particularly focus in assisting their clients to enter the EU market comprising 27 EU countries for which special concessions are available to exporters from Sri Lanka.

In this regard the NCE will provide member export enterprises access to the database of the Centre for Imports from Developing Countries (CBI) in the Netherlands covering the markets of the 27 EU countries, through a counterpart arrangement of the Chamber with the CBI.

This service will be complimented by Seylan Exim Co. (Pvt) Ltd by providing assistance through the CBI Export Coaching Programme and by setting up one to one business meetings with potential importers in these countries, to promote Euro trade.

Through the collaborative arrangement the NCE will extend membership of the Chamber to clients of Seylan Exim as well, at a special concessionary rate to enable them to access the range of services provided to export enterprises, who are full members of the Chamber.