Bucharest, October 30, 2014 \u2013 Diversifying exports\u2019 structure and markets \u2013 in order to favor sustainable economic growth on long term \u2013 depends both on Romanian companies and their capacity of identifying and use the opportunities offered by the present economic environment and on the authorities that are called to point out the most efficient instruments to support the exporters\u2019 efforts said Traian Halalai, President of EximBank, during \u201dRomania Trade and Export Finance Conference\u201d, held today in Bucharest.<\/p>\n
\u201dCountries in Central and South Eastern Europe have had strong commercial links with Western Europe \u2013 mostly due to the accession to EU program but the economic crisis forces them to look for new export destinations and commercial partners. Like other exporters in the region, Romanian companies have directed their activity towards former traditional markets such are the Middle East, ex- USSR countries, Africa or China. It is a legitimate effort but difficult as well. This is why I am convinced that Romanian exporters need to know they are not going through this process by themselves and we – EximBank, Romanian Association of Exporters\u2013 AREX, bilateral chambers of commerce etc. are able to offer consistent support for their re-conquering these markets\u201d, said Traian Halalai.<\/p>\n
He appreciated the reorientation towards the former traditional markets as both justified and possible based on two arguments: on one hand the growth perspectives for these markets are much higher than the ones of the developed countries \u2013 by such offering more opportunities \u2013 and on the other hand there is a history of good commercial relationships with these states \u2013 which is a powerful arguments for further development of the commercial transactions.<\/p>\n
\u201dRomanian products and services, as well as expertise are already present on these markets , of course, but most of the added value remains in the developed countries that are sub-contracting Romanian labor force and other local resources. I think that Romanian companies need to try to directly approach these markets with all the included benefits. We know it is far form being an easy process, especially due to high competition, but Romanian companies are able to benefit from the commercial past and the good relationships that have developed specifically on niche markets \u2013 petro-chemicals, oil and gas equipment, etc.\u201d added Halalai.<\/p>\n
He pointed out that EximBank possesses both the expertise and the necessary instruments to facilitate access of local companies on the above mentioned markets, mentioning the Romanian projects supported by the bank both in Russia, Azerbaijan, Turkmenistan or Afghanistan, as well as in Africa (Angola) or South America\u2013 Brazil.<\/p>\n
\u201dEximBank offers to exporters a complex package of financial products that support the business development and the risks incurred by such activity. Until the economic crisis started most of the exporters\u2019 demands were directed toward state guarantees but now we are witnessing a shift of focus towards insurance products\u201d, also said Traian Halalai.<\/p>\n
The EximBank\u2019 representative underlined the fact that the bank has been constantly acting for consolidating its positioning on the corporate financial solutions market and it will continue to focus on delivering integrated financial solutions for the Romanian business community. <\/p>\n
\u201dThe proof of our full commitment is the fact that the total exposure of the bank has increased five times between 2008-2013 and, most importantly, the state guarantees granted have facilitate access to financing offered by other commercial banks. At the same time we have been focusing on a prudential policy of credit applications files so that we can now enjoy a 1,1% rate of non-performant credits at the end of September, much more lower than the banking system\u2019s average that rates at around 20%.\u201d added Halalai.<\/p>\n
EximBank supports the export activity from the production stage to delivery and cashing of the counter value of the exported goods by offering:<\/p>\n
– FINANCING\u2013 credits that cover the costs of producing or delivering goods or services for export.<\/p>\n
– GUARANTEES\u2013 sovereign guarantees that are reducing risks associated with crediting and facilitate access to financing.<\/p>\n
– INSURANCE:
\nInsurance policy for short term export credits for non-market and temporary non-market risks
\nInsurance policy for export credits for medium and long term
\nInsurance policy for Romanian capital investments abroad
\nInsurance policy for buyer credit.<\/p>\n
– FACTORING – EximBank may finance partially\/totally, with or without recourse to exporters, the commercial invoices related to export activity, issued in the framework of a commercial contract\/agreement\/confirmed order with deferred payment, for covering the temporary lack of cash between the invoicing date and the due date of payment. <\/p>\n
– TRADE FINANCE \u2013 EximBank has a 20 years long experience in supporting the international commercial transactions that bases its capacity of offering the finance trade solutions tailored to the specific needs of each company:
\nDocumentary credits
\nLetters of guarantee
\nIncasso
\nDocumentary payment orders.<\/p>\n
– COMMERCIAL INFORMATION ON BUSINESS PARTNERS – EximBank may offer details on the activity of a potential business partner, that are to be used in the partnership decision making process.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bucharest, October 30, 2014 \u2013 Diversifying exports\u2019 structure and markets \u2013 in order to favor sustainable economic growth on long term \u2013 depends both on Romanian companies and their capacity of identifying and use the opportunities offered by the present economic environment and on the authorities that are called to point out the most efficient […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[41],"tags":[],"class_list":["post-2168","post","type-post","status-publish","format-standard","hentry","category-news"],"acf":[],"yoast_head":"\n