Ukrainian producers need to punish those responsible for the failure of the launch of ECA

The largest production enterprises, associations of Industrialists and employers demand the immediate establishment of an Export credit Agency and the prosecution of officials from the Ministry, which disrupted timely implementation of the law on support of Ukrainian exports

The corresponding resolution was adopted on the results of the parliamentary round table “the Year the Law on export credit Agency. Why hamper Ukrainian exports?”and officially sent to the Prime Minister of Ukraine Volodymyr Groisman leaders of the Committee on industrial policy and entrepreneurship and the Committee on financial policy and banking activities, under whose auspices the meeting was held.


The establishment of an Export credit Agency will increase Ukrainian exports worth billions of dollars

To create ECA of ECA act, the draft regulations of the government, the money in the state budget in 2018, the political will of Parliament and orders of the Prime Minister.

“ECA is a ticket to the club of industrialized, developed countries, which will enable a shift from the dominance of cheap commodity export (wheat, corn, scrap metal, ore, etc.) for the production and export of finished high-tech products with high added value (aircraft, ships, wagons, trams, turbines, agricultural machinery, instruments, equipment, etc.). Is a springboard for Ukraine to rich industrial-innovative future. With high salaries and quality of life,” – said the Chairman of the Committee on industrial policy and entrepreneurship Viktor halasyuk.


The establishment of an Export credit Agency will increase Ukrainian exports worth billions of dollars

He stressed that the Agency will increase Ukrainian exports worth billions of dollars.

“As it is done worldwide, through insurance and guarantee of export contracts, partial compensation of interest rates on export credits. ECA helps manufacturers via effective “financial cover” to make their products more competitive in foreign markets and, accordingly, radically increase exports,” said Galasyuk.

“We, as a business, we were confident that ECA will work 6 months after the adoption of the law and plan their activities for the production with the understanding that we will be able to use ECA according to the functions laid down in the law. We are surprised that it takes a year to understand that we need changes in the law is very unprofessional. We, as exporters, collect professional data, in order to prove in court that such conduct of the Ministry and the relevant officials is criminal inaction” – said the Chairman of the Federation Council.

President of “Antonov” Alexander Krivokon stressed that the enterprise for the production of aircraft are now almost 100% export-oriented, so the ECA should be virtually in each area.

The absence in Ukraine of the ECA and the necessary guarantees to the exporter may force Ukrainian producers to set up businesses abroad and bring production from Ukraine to European countries to obtain their support when dealing, in particular, for the Asian market, noted in his turn, Deputy General Director of LLC “Tatra-Yug” Inessa of Kerdivara.


The establishment of an Export credit Agency will increase Ukrainian exports worth billions of dollars

Director of corporate relations of the LLC “Interpipe” Dmitry Kisilevskiy explained: “We are waiting for ECA as a tool that will create a domestic market in Ukraine, because the ECA will pull engineering for export, and it, in turn, will lead to all the others who “fills” the area. The effect of the work of the ECA will return to the state money in the form of tax revenues generated by a “white” industry of Ukraine. We are for ECA and hope that it will be established as soon as possible”.

“If the ESA was working and compensated for a 7% loan rate, that winning tenders is only a year we could bring their production to billion (to increase to 650 million hryvnia). At the same time, the cost of ECA amounted to UAH 33 million, and the increase in taxes of 42 million. That is, even for example, one shipyard is obvious that ECA is beneficial for the country”, – says General Director “Smart Maritime Group” Vasily Fedin.

In an address to the Ukrainian participants of the round table have concluded the failure of the timing of the creation of the ECA, insist on the termination of violations of the law and the enforcement of memory about the ECA and the urgent creation of the ECA, as well as emphasize the unacceptability of artificial changes in the memory about the ECA, which would limit the proper functioning of the Agency, namely the inadmissibility: the exclusion of the law of the ability of the Agency to provide loans from the state budget, distribution of support on raw materials (for example, on agrocare), the introduction of manual control mechanism of ECA and the rejection of an inclusive mechanism for the formation of the competition Committee to elect an independent and professional Supervisory Council of the institution, the postponement of the establishment of the Agency and Ukraine’s accession to the framework agreement of officially supported export credit of 1978 and five annexes.