IBcontacts and The Lebanese Credit Insurer signed a Contract

A Lastest News about Banking and Finance in Ukraine

Posted on: 24 Jan 2013

Operating in the field of international trade development and organizing the attraction of foreign financing for Ukrainian enterprises IBcontacts company steadily expands the geography of its activity and builds partnerships with leading insurance corporations of the world.

Lebanese export credit agency LCI became the eighth foreign ECAs, which officially authorized IBcontacts company to implement credit researches and assign credit ratings to Ukrainian enterprises, who intend to attract trade and project finance from Lebanon. In general IBcontacts collaborates with more than 23 export credit agencies in 43 countries.

For 9 months of 2012, volume of exports from Ukraine to Lebanon totaled $12,27 billion, a 27.7% increase on the same period of 2011. Imports from Lebanon to Ukraine for the 3rd quarter of 2012 remained practically at the level of three-quarters of 2011 - $2,27 million. The surplus of the Ukrainian-Lebanese trade balance amounted to $1.2 billion. (the third largest surplus in Ukrainian foreign trade). The main imports from Lebanon is tobacco raw materials. Among the most important goods of Ukrainian exports to Lebanon are steel products, agricultural products (wheat, corn, sunflower seed oil), and mineral fertilizers.

We should note that intergovernmental relations between our countries are very strong and comprehensive. Thus, at the intergovernmental level have been discussing the possibility of Ukraine's participation in the projects of construction of renewable energy objects (in particular, wind, solar and small hydro) in Lebanon. Also, Ukrainian government is interested in long-term contracts for the supply of agricultural products in Lebanon.

The potential of the Ukrainian-Lebanese trade and economic relations today is large enough, in this context, cooperation of Ukrainian companies with their Lebanese partners will only expand in the future. Strategic collaboration of IBcontacts company with the Lebanese Credit Insurer (LCI) in the field of credit insurance and business information will help both Ukrainian and Lebanese companies to discover new promising areas of their export activities and to expand commodity markets for their products.

Posted: 24 January 2013

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