Canadian companies exporting to the Slovak Republic can benefit from a new agreement between Export Development Canada (EDC) and Export-Import Bank of the Slovak Republic (Eximbanka SR).
The agreement is aimed at promoting co-operation and coordination between the two export credit agencies with respect to their various financing, insurance, re-insurance and guarantee activities. It will strengthen trade contacts and establish an ongoing relationship between the two organisations, including the exchange of information about potential projects and programmes and providing guidelines for entering into specific financing transactions.
Eximbanka SR was created in July 1997 and provides a wide range of trade finance services, including direct loans, account receivable insurance, short, medium and long-term insurance, guarantees and bonds.
In 2002, Eximbanka SR supported exports amounting to SlKr53.9bn (C$2bn), a 48% increase in volume over 2001. Eximbanka SR has co-operation agreements with a number of export credit agencies, including US Ex-Im, Turk Eximbank, Eximbank Romania, and the Croatian Bank for Renewal and Development. With the recent accession of the Slovak Republic to the OECD, Eximbanka SR believes that there will be increased opportunities for additional co-operation agreements.