Ionut Costea: EximBank is supporting Romanian Companies interested in African markets

Bucharest, May 25, 2012 – We have noticed an increased interest of Romanian companies to go back to the African markets, and EximBank through its specific instruments will fully support them, declared Ionut Costea, President of EximBank during an event dedicated to Africa Day.

”The African economy is going through profound transformation and the interest that more and more Romanian companies are showing towards this area is fully justified. The economic exchanges of Romania with African countries have been very well developed in the past, Romanian experts having contributed to important industrial projects developed in Africa: civil construction sites, mining and oil exploitation, agriculture, transportation infrastructure. Even if after 1990 the economic cooperation with African countries diminished, we can witness now a revival of the commercial activity. We wish that EximBank products and actions contribute to the development of a long term partnership between Romanian and African companies” stated the Bank representative.

He also emphasized that even if at present the Romanian commercial exchange policies are mostly dependent on the Euro zone – with a volume of almost 70% of the total Romanian exports, the commercial exchanges with the African countries have registered in 2011 figures higher than 1.6 Billion Euro, out of which 1.3 Billion Euro represented by Romanian exports which is higher by 30% as compared to the previous year.

”Even if the data reported for the first trimester show a steady trend of the growing rate, I consider that the whole volume of commercial activity with African countries is still under its true potential. As we are looking to the world economic environment and the new European context where Romania is part we should use this potential toward our mutual benefits by reviving and developing our good cooperation relationships with African countries” added Ionut Costea.

The President of EximBank mentioned that the Bank is not offering only products and specific services but its portfolio allows it to offer to Romanian companies an integrated support containing information on the opportunities preset on African market.

”We started a project aiming at identifying the investment projects that are planned for Africa and to present them to Romanian companies. We are also developing a close cooperation project with the National Association of Romanian Importers and Exporters which consists in opening promotional business centers in various regions of the world. One of these centers is already functioning in Dakar (Senegal) offering the possibility of presenting Romanian companies offers to Western African countries” also added President of EximBank.

According to Mr. Costea EximBank holds a portfolio containing special products meant to facilitate the access of Romanian companies on other markets such as:
– The international guarantees – especially designed for Romanian companies that want to expand their operations abroad

– Insurance– insurance policies for the Romanian capital investment projects abroad, protecting the Romanian companies outside the country

– Commercial informationon foreign companies that allow knowing a business partner before signing any commercial contract.

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.