KYIV. Sept 1 (Interfax-Ukraine) – The Cabinet of Ministers intends to approve the concept of national export insurance and create the State Export Insurance Agency for promotion of Ukrainian exports, the Ministry of Economic Development and Trade has said.
“The creation of the State Export Insurance Agency will be an instrument to protect exporters against financial risks in accordance with the highest international standards,” First Deputy Prime Minister Stepan Kubiv said.
According to the ministry, Kubiv together with Trade Representative of Ukraine Natalia Mykolska and Deputy Head of the National Bank Oleh Churiy on August 30 hold a meeting with the profile associations as for setting up the State Export Insurance Agency.
The trade representative noted the key focus in creating the agency is on realism and effectiveness.
As reported, in late April this year Natalia Mykolska stated the State Export Insurance Agency could be founded in 2017 if funding for the project is foreseen in the national budget. According to her, six or nine months will be required from the date of creation of the export insurance agency to providing first services.
