Turkish Exporters Assembly (TIM) organized the first of the "Export Financing Seminars" with the contributions of Turkish EXIMBANK and Coface in order to ease the firms' access to finance shortly after President Recep Tayyip Erdogan's call on credit interests on the banks.
The "Export Financing" Panel, organized by the Turkish Exporters' Assembly with the intent of facilitating access to finance and reducing financial costs to a minimum level, was organized at the Foreign Trade Complex in collaboration with Turkish EXIMBANK and Coface. Moderator Ali Orhan Yalçınkaya, indicated that knowledge and experience about the diversification of the financial instruments used by the companies were shared, stated that cash flow has played a key role in the survival of the companies during the opening speech and added that the planned organization will come in due consideration of this reality.
"We aim for $ 40 billion financing support at the end of the year"
Turkish EXIMBANK Director General Enis Gültekin stated that Turkish EXIMBANK provided 43.1 percent of export credits for 30 years, operates in 10 branches in Turkey, is ranked first at loan asset ratio and tenth at credit balance.” He added that “At the end of the year we are targeting $ 40 billion in financing support”. Gültekin emphasized that they support the production and sales processes and he shared information about the credits originated by the Central Bank of the Republic of Turkey (CBRT), credits for foreign exchange earning services as well as short and medium-long term credits.
"Coface products make big contributions to export"
Emre Özer, Coface General Manager, stated that Coface is the first private venture in credit financing in Turkey, with a market share of 42 percent in the country and is issued a policy that paid 390 million TL of compensation mounting up to TL 238 million and risked 4.8 billion euros. Özer also stated that "Coface products make big contributions to the exporters because of the factors such as customer service support, early warning system, widespread information network and agility," He also explained the advantages of trade credit insurance offered to customers against letter of credit and factoring services.
After the presentations, Turkish Eximbank and Coface authorities made important evaluations and directions on the participants' loan processes, international relations, banking relations, pre-financing, pre- and post-shipment insurance and long term export issues.Published on Monday, August 14, 2017