Wednesday August 29, 2012
Malaysia, Russia to sign MoU on SMEs
KUALA LUMPUR: Malaysia and Russia expect to sign a memorandum of understanding (MoU) this September which would enhance economic ties between the two and see their joint cooperation in supporting the development of their respective small and medium-sized enterprises (SMEs).
A statement issued by the SME Bank (Russia) yesterday, said the MoU would be signed by Russia’s State Corp Bank for Development and Foreign Economic Affairs (Vnesheconombank), SME Bank (Vnesheconombank Group) and Malaysia’s SME Bank during the APEC Business Summit on Sept 7-8 in Vladivostok, Russia.
Under the MoU, the parties will cooperate in providing informational and consultative support for SMEs in Malaysia and Russia via the three banks, as well support import and export activities between the two, and activities within Russian-Malaysian agreements.