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ECA signs memo with Croatian Bank for Reconstruction and Development
KYIV. Sept 19 (Interfax-Ukraine) – The Export Credit Agency (ECA) of Ukraine has signed a memorandum with the Croatian Bank for Reconstruction and Development (HBOR), which provides for the definition of guidelines for the development of cooperation and relations between institutions to promote the development of exports of goods and services of Ukraine and Croatia, according to the ECA website.
"The restoration of Ukrainian exports is one of the key issues of the economic policy of the wartime state. The influx of foreign exchange earnings into the state guarantees macroeconomic stability and accelerates our victory over the aggressor. Therefore, today it is extremely important to support Ukrainian exporters in foreign markets, as the content of our memorandum of understanding suggests," acting Deputy Chairman of the ECA Board Oleksiy Kushnir said.
According to him, trade relations between Ukraine and Croatia have been developing steadily all these years. The top three goods that Croatia buys the most in Ukraine are non-commodity export groups: power equipment (16.1% in the total export structure), wood and wood products (16.1%), and electrical machines (12.5%). The export of all these commodity groups can be actively supported by the Ukrainian ECA, he said.
According to the State Statistics Service of Ukraine, the volume of trade between Ukraine and Croatia in 2021 increased by 37.2% and amounted to $113.1 million. Ukraine exported goods and services to the Croatian market with a total value of $45.7 million (54.6% more than in 2020), imported for $67.4 million (27.5% more than in 2020).
The Croatian Bank for Reconstruction and Development was established in 1992. It is the National Development Bank of Croatia, which task is to promote the development of the Croatian economy by providing loans, insuring export operations against political and commercial risks, providing guarantees and business advice.
