HBOR, MACEDONIAN DEVELOPMENT STIMULATION BANK SIGN AGREEMENT

ZAGREB/SKOPJE, Dec 4 (Hina) - The Croatian Bank for Reconstruction and Development (HBOR) and the Macedonian Bank for Development Stimulation (MBPR) signed a cooperation in Skopje on Tuesday. The agreement, signed by HBOR management board chairman Anton Kovacev and MBPR director Vladimir Naumovski, is based on strengthening business relations between the two institutions, with the aim of stimulating economic cooperation between the two countries within the authorities and powers of the signatories. The cooperation encompasses an exchange of information regarding business of mutual interest, especially in the area of financing, exports insurance and investment insurance; participation in joint projects in third countries; the exchange of experiences, organisation of seminars and the training of personnel. The joint appearance on third markets is the usual way of cooperation between exports and loan agencies in the world, the HBOR said in a statement, adding that the cooperation related to so- called multi-source projects, where every agency supports its exporter in projects where they appear jointly. Every exporter continues to cover some area of delivery of goods or services, and they do not represent competition to each other, but jointly strengthen their positions in relation to other competitors. (hina) lml