The Chief Executive officer of Ghana Export-Import Bank, GEXIM, Mr. Lawrence Agyinsam has been elected as the president of the Global Network of Export-import Banks and Development Finance Institutions, G-NEXID in Geneva, Switzerland.
Mr. Agyinsam took over the mantle of leadership from his counterpart in Nigeria, Mr. Abubakar Abba Bello.
The Geneva-based Global Network of Export-import Banks and Development Finance Institutions was set up in 2005 to spur South-South trade and Development.
The 14th Annual General Meeting of the Global Network of Export-import Banks and Development Finance Institutions, G-NEXID was held June 25, in Geneva.
The 14-member organization includes Ghana, Nigeria, India, Indonesia, China, Thailand and multilateral institutions such as Africa Export-import Bank, Afriexim among others. High on the agenda discussed included recent trends in South – South trade and investment flows, banking strategies and South – South trade and investment flows, Bank-intermediated trade finance, trade regulations and trade finance, project finance and sustainable investment.
One of the objectives of G-NEXID are capacity-building and sharing of best practices and during of the Annual General Meeting.
GEXIM made a presentation titled “Drawing synergies from Partner Organizations to promote Industrialization: the experience of Ghana Exim Bank”
The presidency of G-NEXID is a two- year term position renewable for another two years. The Chief Executive Officer of Nigeria, Mr Abubakar Abba Bello has ended his tenure and his Ghanaian counterpart, Mr Lawrence Agyinsam is now the President of the Global Network of Export-import Banks and Development Finance Institutions.
Mr Bello said during his tenure, the organization has grown in numbers which led to the entry of China and Thailand into the organization. He urged members to accelerate moves to deepen trade among countries in the south – south corridor in the world.
The new president of G-NEXID, Mr. Lawrence Agyinsam pledged to work hard to expand the frontiers of the organization to increase trade finance and development among members. He said trade tension and geopolitics being witnessed now in the world indicate that trade and investment between Africa and Asia hold the key to job creation and development in the south-south corridor. He added that trade in agribusiness in Africa as at 2018 stood at 6 billion dollars and called for Investors from Africa and Asia to take advantage of the development.
A report published by UNCTAD, show that South-South agricultural imports has jumped to 67 % as against 10% in 1990. Around half of the exports of Brazil, China and India are now to other developing countries. Growth in South-South investments also has been rapid, and such investment now accounts for more than one third of investment flows to developing countries.