In January 2016, economic and financial sanctions of the EU against Iran relating to the Iranian nuclear programme were lifted, which directly opened the opportunities for making new business contacts on the market which had been closed before. Subsequently, the representatives of EXIMBANKA SR several times met the Iranian administration and banking industry officials, recently it was during the official visit of the Deputy Prime Minister of the SR P. Pellegrini, Minister of Finance of the SR P. Kažimír and Minister of Economy of the SR P. Žiga, where EXIMBANKA SR was represented by the Chief Executive Officer and Chairman of the Bank Board D. Keketi. During the visit, they signed the Memorandum of Cooperation among EXIMBANKA SR and the Ministry of Economic Affairs and Finance of the Islamic Republic of Iran. The officials of Iranian institutions confirmed serious interest in renewing historically good business relations, import of the Slovak production to Iran and cooperation in other areas.
In June 2016, Iran was successfully re-categorized to better, 6th risk category of countries according to the evaluation by the OECD, which will also make the market more attractive especially with regard to cheaper financing sources and insurance of exports to the country.
On 17 May 2017, EXIMBANKA SR signed the new Memorandum of Understanding with the Export Guarantee Fund of Iran (EGFI, Export Guarantee Fund of Iran) substituting the original from the year 2005. The EGFI is a state-owned export credit agency established by the Ministry of Trade of Iran. EXIMBANKA SR cooperates with the EGFI on the ground of Prague Club Committee. Mutual cooperation of both agencies follows the original Memorandum of Understanding of 2005 both parties signed already before the implementation of restrictive measures by the EU. The new Memorandum will enable both parties to intensify the cooperation at financing the Slovak export to Iran and it will support the exchange of information about potential opportunities for the Slovak companies in Iran. EXIMBANKA SR records major interest of the Slovak exporters in this territory, so it searches for the opportunities for penetration to this territory.
Main duties of the EGFI.