Alliance to strengthen foreign trade

Tegucigalpa, February 21, 2019.- As part of the working tour of the Executive President of the Central American Bank for Economic Integration (CABEI), Dr. Dante Mossi, today in Madrid, Spain, a memorandum of understanding was signed with the Spanish Development Finance Institution (COFIDES) to link and strengthen the processes in order to boost foreign trade.

Through the agreement, both institutions seek to establish the bases to coordinate actions to support programs and projects of common interest in order to promote a culture favorable to productive and commercial implementation abroad, strategic alliances and international business cooperation.

In addition, this alliance will establish exchange mechanisms on aspects of development in sectors and regions that allow the identification of business and trade opportunities with the aim of strengthening cooperation efforts between Spain and the countries of the region.

During his speech, President Mossi said that this agreement is an example of the continuous work to strengthen the exchange of experiences, good practices and knowledge with first level entities.

He added that with the signing of these agreements, CABEI hopes to continue promoting its work in the integration and the economic and social development of the region as a global destination of opportunities and investment.

After the agreement signing ceremony, which took place at the COFIDES headquarters in Madrid, the President of COFIDES, José Luis Curbelo, stated that, "A large part of the actions promoted by CABEI and COFIDES are complementary; this agreement will strengthen our coordination with the objective of promoting more projects that generate a positive impact and promote sustainable development."

COFIDES is a public-private partnership that since 1988 offers financial support to the investments of Spanish companies abroad. It exclusively manages the FIEX and FONPYME funds on behalf of the Ministry of Commerce, which is attached to the Ministry of Industry, Commerce and Tourism. Likewise, Banco Bilbao Vizcaya Argentaria (BBVA), Banco Santander, Banco Sabadell and the CAF-Development Bank of Latin America also participate in its shareholding.