Nafin, Bancomext, and CAAAREM to Strengthen Customs

Nacional Financiera (Nafin) and the National Bank of Foreign Trade (Bancomext) have entered into a collaborative agreement with the Confederation of Customs Brokers of the Mexican Republic (CAAAREM), aiming to fortify customs and foster economic development in Mexico.

The agreement seeks to enhance customs agents' access to financing, support exporting companies at border, maritime, and aerial points, and identify training and assistance needs. It was signed by Luis Ramírez, General Director, Nafin and Bancomext, and Miguel Cos Nesbitt, President, CAAAREM.

The announcement highlights the interest that the Ministry of Finance and Public Credit (SHCP), Nafin, and Bancomext have in expanding credit throughout the country. Through partnerships with local and regional non-bank financial intermediaries, these institutions aim to bring financing closer to those in need. This collaboration enables the design of plans and programs tailored to the profile of customs agents, contributing to Mexico's economic development.

Credit union UniCCo will be the first financial entity to work directly with customs agents under this specific agreement. Other institutions could join later.

Ramírez highlights that this year, Nafin and Bancomext have a fund of US$58 million to extend credit primarily to small and medium-sized enterprises. Nafin has a specific mandate to support micro, small, and medium-sized enterprises in the industrial, commercial, and service sectors. It operates particularly in the second tier through commercial banks or non-bank financial intermediaries.

Bancomext is responsible for supporting companies involved in foreign trade and activities that generate foreign exchange, such as tourism.