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NEWS HIGHLIGHTS
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Fourth Annual Meeting Of The Global Network Of Eximbanks And Development Finance Institutions (G-NEXID)
The Fourth Annual Meeting of G-NEXID was held in the UNCTAD premises in Geneva on Tuesday, May 5, 2009. The Annual Meeting was preceded by a technical seminar on 'Global Financial Crisis: Significance of South-South Trade Finance and Cooperation' held on Monday, May 4, 2009. Besides the members of G-NEXID, representatives of UNCTAD, ITC and various other important global organizations participated in the events. The seminar was addressed by, among others, Mr. Lars Thunell, Chief Executive Officer of the International Finance Corporation, Washington, and Mr. Ujal Singh Bhatia, Ambassador and Permanent Representative of India to the WTO. The Annual Meeting was opened by Mr. Petko Draganov, Deputy Secretary General, UNCTAD. As part of its efforts to work closely with Multilateral Financial Institutions, G-NEXID signed a Memorandum of Cooperation (MOC) with the International Finance Corporation. The MOC was signed by the two organizations in the presence of Mr. Supachai Panitchpakdi, Secretary General, UNCTAD, who expressed his happiness about the cooperative initiative, which will serve the long-term interests of South-South economies. In view of completion of term by Mr. T.C.Venkat Subramanian as Honorary President, election was held to the post and Mr. Jean-Louis Ekra, President and CEO of African Exim Bank, was unanimously elected as the new Honorary President of G-NEXID. Consequential vacancies on the Steering Committee were also filled up by election. Members discussed, in detail, the future activities of G-NEXID. It was agreed that the Network will be further strengthened, with addition of more member institutions. Interactive programmes and experience-sharing initiatives will be enhanced and the website and the newsletter will be used by members still more effectively. Members recognised that in the context of current global financial crisis, implications of which were discussed in the seminar on May 4, 2009, business cooperation among members has become an imperative and it was agreed that more opportunities for joint financing of South-South trade and investment will be identified under the umbrella of G-NEXID, which has provided an ideal platform for such collaborative efforts. G-NEXID will enhance its cooperation with regional and global organizations like IFC, Berne Union, INSME, etc., which will allow access for the members to the services and programmes of these organizations. In sum, members recognized the potential of G-NEXID as a global forum, with particular significance to the South-South economies and pledged their support to make it stronger and still more vibrant in years to come.
Detailed Minutes of the Annual Meeting and the various presentations made, have been uploaded on the G-NEXID Website, under the 'Downloads' Section. Names of new Steering Committee Members can be found in the 'Contact Us' Section of the Website.
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