Co-operation Agreement EximBank – ECIO Greece
Bucharest, February 8, 2011 – EximBank has concluded a co-operation agreement with the Export Credit Insurance Organization (ECIO) of Greece, designed to embolden trade relationships between both countries while granting assistance to both Romanian and Greek economic operators jointly involved in projects to be implemented in third countries.
„Trade relationships between Romania and Greece have been hit by the financial crisis also prevalent more or less in the economies of EU Member states, but we believe that by means of our particular products within such an agreement we shall give an impetus to these commercial relations. Suntem Moreover, due to salient presence of companies with Greek capital in the Romanian market we can only feel optimistic about this collaboration since significant investments in various sectors have been reported, from communications, banks, and insurance to foodstuffs”, said Ionuţ Costea, president of EximBank.
The present Partnership Agreement shall enable both institutions to jointly tackle projects of mutual interest concurrently facilitating either a fair exchange of commercial and credit information on Romanian and Greek companies or export deals, by means of relevant guarantee and insurance instruments.
ECIO is a Greek State export credit agency participating in the meetings of Export Credits Working Groups of the European Council in Brussels and of OECD in Paris. The institution grants export cover against commercial and political risks on short, medium and long term, as well as cover of Greek investments overseas and buyer credit cover.
So far, EximBank has concluded framework partnership agreements with 36 Export Credit Agencies – ECA, from among which 13 are operating within the EU.