EximBank, founding member of the Azerbaijan – Romania Chamber of Industry and Commerce
Bucharest, April, 01 2013 – EximBank has joined the initiative launched by a group of 15 Romanian companies to establish the Azerbaijan – Romania Chamber of Industry and Commerce, organization aiming at fostering the economic relationships between the two countries by identifying business opportunities.
EximBank’s involvement in this project is part of the Bank’s strategy of supporting Romanian exporters that intend to enter other markets than the traditional ones. The Azeri market offers important business opportunities in various domains – from energy to agriculture, construction or tourism.
”EximBank is directly interested in contracts and partnerships to be signed between Azeri and Romanian parties especially since the Bank is in the position to offer special instruments to facilitate the access of Romanian companies on this market on increasingly safe conditions” declared Paul Ichim, Vice President of EximBank at the ceremony of signing the founding documents of the Chamber.
The Bank is able to insure the nonpayment risks associated with export contracts for non EU markets and countries outside OECD, as well as risks incurred by Romanian investments abroad, explained the Banks’s representative.
EximBank concluded partnership agreements with several representative business organizations such as The National Romanian Association for Exporters and Importers (ANEIR), Romanian Patronal Association, the majority of local Chambers of Commerce in Romania, as well as with the Association of the Bilateral Chambers of Industry and Commerce in Romania.
The Bank is offering complex, integrated solutions for exporters and companies seeking to expand their business abroad, similar to any European Union ECA (Export Credit Agencies) portfolio, such as:
Insurance policies for the cashing of delayed export contracts payments;
Insurance policies for buying credits granted by the commercial banks to importers for paying goods and services form Romania;
Insurance policies for Romanian investments abroad, covering up to 90% of the expropriation risks, money transfers, etc;
Guarantees for participating in international bids, guarantees for reimbursement of the advance payments made by importers, guarantees for good contract execution.
In order to facilitate the access to this special products, EximBank implemented on its website (www.eximbank.ro) an online selling platform for insurance policies that allows the costs calculation.
The insurance package of EximBank has been awarded the prize “Best banking product in 2012” by Piata Financiara Review due to the supplementary protection that may be offered to the Romanian companies involved in international transactions.
EximBank is a specialized institution whose threefold product portfolio focused on financing, guarantee and insurance, enables it to grant assistance to current activities and development of exporters, SME-s and companies involved in projects pertaining to key economic sectors, particularly those contributing to the absorption of EU funds.