The Export Credit Agency (ECA) of Ukraine and Export Credit Greece (ECG) have signed a memorandum of understanding.
The aim of the memorandum is to establish principles for cooperation, support and for encouraging trade and investments between Ukraine and Greece, as well as to promote bilateral cooperation and information exchanges to coordinate this cooperation, Ukrainian media said, citing the ECA website.
ECA Board Deputy Chair Oksana Ocheretyan, for her part, said that the memorandum will facilitate information exchanges with the Greek side regarding investment opportunities and investment legislation and rules and will make these investments accessible to businesses in both countries.
ECG is Greece’s state-run export credit agency and is the successor of the Greek Export Credit Insurance Organization (ECIO), founded in 1988 to insure export credits in line with generally accepted world standards.
ECG provides commercial and political risk insurance for export credits as part of Greek companies’ exports to foreign markets, as well as insurance from political risks for Greek entrepreneurs’ investments.
Ukraine’s Export Credit Agency was established to promote exports of goods (works, services) of Ukrainian origin and support Ukrainian resident exporters through insurance, reinsurance, provision of guarantees under export development contracts. The National Bank of Ukraine has been authorized to regulate ECA’s activities since January 7, 2023.
Source Link