The Export-Import Bank of the Republic of China (EXIM, 中國輸出入銀行) and Chile’s Corpbanca Bank signed a refinancing contract on Saturday aimed at providing loans to Chilean enterprises to buy Taiwanese products.
Under the contract, the Taiwanese lender will provide credit worth US$10 million to the Chilean bank, which will be used to refinance Chilean importers who purchase Taiwanese products, with the maximum amount for each loan limited to US$2 million, or 85 percent of the total transaction price.
Witnessed by Representative to Chile Ko Jai-son (柯吉生), the contract was signed by EXIM CEO Chu Jun-feng (朱潤逢) and his Chilean counterpart, Mario Chamorro Carrizo, in the capital city of Santiago.
TRADE CONSULTATION
Chu — who was part of a delegation of 103 representatives from 70 Taiwanese enterprises involved in metalware, plastics, textiles, auto parts and accessories, and computers and electronics — arrived in Chile on Thursday to promote Taiwanese products and later that day held a trade consultation session in Santiago.
The session attracted 350 Chilean companies and generated revenue of US$1 million through on-site transactions, Chu said.
Another US$10 million in follow-up orders are expected, Chu said.
Ko said the inking of the agreement would boost the competitiveness of Taiwanese products in Chile and expand their market share.
OPPORTUNITY KNOCKS
Two-way trade between Taiwan and Chile has increased sharply in recent years.
Last year, the total value of bilateral trade was US$2.3 billion, with Chile enjoying a trade surplus of US$1.7 billion, while Taiwan recorded approximately US$300 million in exports to Chile, up 10.7 percent year-on-year, Ko said.
After leaving Chile yesterday, the delegates will visit Peru and Colombia on their business promotion trip.
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