During the parliamentary round table entitled "Export credit agency as an effective tool of boosting Ukrainian exports" organized with the assistance of the Committee on Industrial Policy and Entrepreneurship and the Committee on Financial Policy and Banking, they discussed the creation of the same-name specialized institution for the promotion of domestic producers’ entry into new markets.
Export credit agency (ECA) envisages by the draft law No.2142a will provide insurance, guaranteeing, cheapening of loans for export operations and provision of analytical and advisory assistance.
Thus, when opening the event, the Industrial Committee Chairperson Viktor Halasiuk said: "Our task is to maximally increase Ukraine's position in the chain of value-added creation - to transform from the raw material exporter into the manufacturer and exporter of finished products, which will bring prosperity to the country." The People's Deputy said that the agency will focus exclusively on the branches creating added value, for example food and light industry, pharmaceuticals industry, engineering of all types, IT services, etc.
"Ukraine has no right to protract with the creation of its own system for supporting exports, otherwise it will be unable to compete in the world market as an equal rival. Creation of the export credit agency is only a step in the construction of the whole system. We also have to correctly build up the work of state-owned banks, to maximally use mechanisms of trade missions of Ukraine, corresponding departments of our embassies abroad," Chairperson of the Committee on Finance Serhii Rybalka said.
Drastically important for the export-oriented SE "Antonov" becomes the approval of the draft law No.2142a. "Our opinions on fundamental issues are fully consistent with the provisions of the draft law, which reflects the proposals that we have submitted to several compositions of the government and convocations of the parliament," enterprise's director for finance and economy Yurii Andriyenko said. Boosting exports, in his opinion, is a complex problem requiring development of a system of domestic aircraft leasing, creation of the opportunity for public enterprises to receive loans under state guarantee and introduction of a system of the domestic market protection.
ECA should have been created long ago, says Pavlo Shtutman, Supervisory Board Chairperson of CJSC Hydrosila Group / Chairperson of the Council of the UkrAgroMash association of enterprises manufacturers of machinery and equipment for agricultural complex. "Exports will start working only after all the restricting factors will be eliminated, for example non-refund of VAT and the need to get a license when making investments abroad," he said.
Corresponding institutions in charge of supporting exports operate in almost all developed and actively developing countries. The most well-known are Eximbank (USA), NEXI (Japan), Euler Hermes (Germany), COFACE (France), Atradius (the Netherlands), SBCE (Brazil), CESCE (Spain), SEK (Sweden) and others. Such organizations were also created in Eastern Europe, namely in Slovakia, Slovenia, the Czech Republic, Poland, Hungary and others.