During the 29th Asian EXIM Banks Forum annual meeting held in Shanghai on Wednesday, officials and industry experts called for a more prominent role for Export-Import (EXIM) banks in driving economic growth across Asia, particularly amid the complex challenges of global market uncertainties and the region’s green transition efforts. The meeting, attended by top executives from 13 international export credit agencies (ECAs), underscored the need for closer cooperation among Asian economies to address pressing issues such as financial volatility, supply chain disruptions, and climate change.
Wu Fulin, chairman of the Export-Import Bank of China, highlighted that while Asia’s economy continues to grow rapidly, it faces significant risks as the global economy weakens, and supply chains become increasingly fragmented. “In this sense, Asian EXIMs should deepen their cooperation to mobilize more capital from the private sector, enabling financial institutions to serve economic growth with higher efficiency,” Wu said.
The forum also addressed the role of technological and industrial revolutions in Asia’s economic landscape. With advancements in green transition, trade digitalization, and technological innovation, there is a growing need for enhanced regional collaboration to unlock the potential of these transformations.
Regional Challenges and the Need for Cooperation
Rak Vorrakitpokatorn, president of the Export-Import Bank of Thailand, stressed that financial volatility remains a major challenge for Asian economies, with exports accounting for one-third of their economic output. Disruptions in global supply chains, including freight rate hikes, rising energy prices, and new trade barriers, have further amplified the importance of strengthening regional ties among ECAs.
Hakan Uzun, deputy general manager for the treasury department at Turk Eximbank, added that the increasingly complex nature of global value chains and large-scale projects served by EXIM banks necessitate collaboration across countries. “This points to the rising importance of deeper regional cooperation, especially among ECAs,” he said.
Addressing Climate Change and Economic Growth
One of the key topics discussed at the forum was climate change and its impact on Asia’s economies. Hayashi Nobumitsu, governor of Japan Bank for International Cooperation, emphasized that climate change poses a significant challenge that requires enhanced cooperation among Asian countries. “Climate change is one of the major challenges that necessitates stronger connection and collaboration among Asian nations,” he stated.
A joint report by the Export-Import Bank of China and Fudan University highlighted the balancing act between energy transition and economic growth. The report noted that while Asia aims for steady economic growth, the varying levels of resource endowment, technological capabilities, and economic stages across countries make regional cooperation critical to achieving a sustainable future.
Investment Initiatives to Support Green Transition
John Hopkins, managing director and CEO of Export Finance Australia, shared that the Australian government’s ECA has established a $2 billion investment facility for Southeast Asia. This initiative aims to support infrastructure development, the supply of critical minerals for the green transition, and the growth of small and medium-sized enterprises (SMEs) in the region.
The forum’s discussions emphasized that, as Asia continues to face challenges related to supply chains, climate change, and technological innovation, greater collaboration among EXIM banks is crucial for the region’s long-term economic resilience. By leveraging shared resources, improving coordination, and fostering cross-border cooperation, Asian economies can better address global challenges and accelerate their green transition efforts.