EximBank is hosting the 19th meeting of the International Working Group on Export Credits
Bucharest, April 3 2019 – EximBank is hosting the International Working Group on Export Credits (IWG) meeting between April 2nd – 4th under the Romanian Presidency of the European Union Council for the first semester of this year.
”EximBank has been actively involved in a dialogue with similar entities, aiming both at refining and modernizing its portfolio and at creating favorable business environment and facilitating the access of Romanian exporters on foreign markets in similar conditions with companies from abroad. These constant efforts have been recognized in the actual context of the Romanian Presidency of the European Union Council by hosting this event that allows us to contribute on the first line to shaping the common positioning of European member states related to international transactions.”, declared the representatives of the Export – Import Bank of Romania, that is currently chairing the Credit Export Working Group of the European Union Council.
They added that, by hosting the 19th meeting of the IWG in Bucharest as well as by its constant concern of harmonizing European Union member states positions, Romania is taking up on the opportunity to affirm its cooperative dimension, underlying its stability in supporting the negotiating positions of the European Union which is participating as a single voice to the IWG negotiations, representing the agreed points of view of all member states.
The event in Bucharest gathers more than 100 representatives of institutions active in the export credit domain from EU member states as well as another 14 countries, all of which significantly contribute to the international commerce. Debates follow the main ideas of identifying new ways for supporting national companies on international markets considering the change of economic paradigms and the increased impact of emergent economies.
About International Working Group on Export Credits
International Working Group on Export Credits (IWG) has started in 2012, under the common initiative of strengthening the economic relationship between United States of America and China (“Joint Fact Sheet on Strengthening U.S. – China Economic Relations”), aiming at identifying international guidelines for officially supported export credits that will ensure:
- The level playing field for national programs for export support.
- Compliance with the World Trade Organization ruling, especially the provisions of the Agreement for the Subventions and Compensatory Measures (ASCM), that rule the OECD Arrangement and any other successive agreement that may compare in qualitative terms.
- Complementarity with the private sector.
Members of IWG are the participant states to OECD Arrangement as well as non-participant states such as China, India, Indonesia, Russian Federation, South Africa etc.
About EximBank
EximBank has been actively involved for more than 25 years in supporting and promoting the Romanian business environment by endorsing as many local companies’ projects as possible. EximBank has started as an export agency and, in time, it managed to overcome this status keeping its unique features along the way. Following the adjustments of the business lines made in order to adapt to the national and worldwide economic progress, EximBank is now in the capacity to present to the corporate segment an attractive portfolio of products and services for any type of company, either big companies or SMEs, involved in international transactions or active only on the internal market. Acting as Romanian state agent for guarantees and insurance, EximBank is the main channel for infusing the Romanian state funds into the real economy in order to sustain increasing competitiveness of local companies.