Turkish Exporters Assembly (TIM) organized the third of the "Export Financing" Seminars with the contributions of Turkish EXIMBANK and Coface in order to ease the firms' access to finance on 18 December 2017 at Ömer Halisdemir Conference Hall in İstanbul.
The "Export Financing" Seminar was organized by the Turkish Exporters' Assembly with the intent of facilitating firms' access to finance and reducing their financial costs to a minimum level at Ömer Halisdemir Conference Hall in collaboration with Turkish Eximbank and Coface. Dr. H. Bader Arslan, Secretary General of Turkish Exporters' Assembly, made the opening speech of the event which is about diversification of financial instruments.
In the first part of the seminar moderated by Ali Orhan Yalçınkaya, Economist of the Eximbank, panellists, who were Enis Gültekin, Deputy Director General of the Eximbank and Emre Özer, Director General of the COFACE Turkey, presented activities of Eximbank and Coface respectively.
In the second part of the event, panellists answered the questions of audiences about credit limit allocation methods, insurance programs processes in risky countries, the importance of financial turnover in terms of credit facility and cooperation with foreign institutions.
“We have common projects with EXIM US and UK Export Finance”
Mr Gültekin mentioned that Eximbank, as per the mission, could provide loan for exports to risky countries even if there is no information, that the limits had reached almost $ 10 billion and that they abided by Central Bank of the Republic of Turkey in terms of maturities. He added that low financial turnovers were also covered and he continued “Mainly applications for domestic credit insurances of producers who export are approved. If buyer is under the guarantee of central government, we can insure the investments in the risky markets such as Africa. We have agreements with EXIM US and UK Export Finance to support common projects of investors from two countries. Thus, we can utilise their credibility.” Mr. Gültekin state that current export figures was more crucial than former financial problems of a firm in terms of credit applications. He continued by saying that if there is lack of data, purchasing data from international information institutions might prolong the process and that for demands for compensation they made the payment within 4 months.
“We Meet the Demands For Limits Within 3-4 Day”
Mr Özer stated that by the help of intelligence reports firms received their scores for limit allocations, that possibility of the repayment of a credit in due date was checked and that low volume bills were not suitable for Coface. Return to demands for limit depends on the countries; while the returns were faster in Europe compered to in Asia and in Africa, average duration is two days. He added that since database in Turkey was developing, returns took 3-4 days.