Export Credit Agency – guarantee of increasing export
Expanding the export of finished goods and services is one of the most important priorities for the economic development of Uzbekistan in the long term.
Expanding the export of finished goods and services is one of the most important priorities for the economic development of Uzbekistan in the long term.
Exports in Uzbekistan are growing rapidly, but along with progress, barriers are also appearing for national exporters.
One of the main obstacles was financing and lending to foreign trade operations, insurance against political and other types of risks associated with the production of export products, expansion of exports and sales of products on world markets.
The State Program for 2020, the Year of Science, Enlightenment and Digital Economy Development, approved by the Decree of the President, consists of 284 paragraphs, 96 of which are devoted to economic development issues and active attraction of investments.
In order to solve the existing problems, the decree stipulates the creation of an Export Credit Agency, the activities of which will be aimed at increasing the export potential of Uzbekistan and ensuring preliminary financing of exports.
As foreign experience shows, export financing is the most effective tool that allows to quickly solve all the financial problems of national exporters associated with production of export products and their sale on world markets.
According to the Project Coordinator at Development Strategy Center Shavkat Alimbekov, export credit agencies are created in the form of private or public companies, as well as in mixed ownership. There are more than 70 such agencies in the world. They are united in international associations such as the Berne Union and the International Credit Insurance & Surety Association.