EXIMBANKA SR took over the Presidency of the Council Working Group on Export Credits and Guarantees
On 1 July 2016, the Slovak Republic took over the first ever Presidency of the Council of the European Union (SK PRES). The main challenge for Slovakia in this important responsibilities and opportunities is the search for a compromise between Member States to achieve a final consensus on difficult issues on the EU agenda and to best represent our country. During this period, Slovakia will represent the Council of the European Union in relation to multilateral organizations and other European institutions (the European Commission and the European Parliament).
EXIMBANKA SR will chair the meetings of the Council Working Group on Export Credits and Guarantees (CWG – ECG), which is currently one of the longest active working groups of the Council of the European Union (it was established in 1960). The Council Working Group on Export Credits and Guarantees harmonizes conditions for the state support of exports for Member States, and coordinates the Member States’ position in the field of export credits, of which we also deal in the OECD or the International Working Group on Export Credits (IWG). Its main objective is to establish equal conditions of the state support of exports for all members and prevent unfair competition by modifying common rules and standards for the provision of the state support of exports and defining the framework of financial requirements, such as minimum premium rates, maturity, minimum interest rates, and others.
During the leadership of the Council Working Group on Export Credits and Guarantees, the key task of EXIMBANKA SR will be especially the organization and management of meetings of the Working Group, prioritization of current agenda, finding compromise solutions, coordinating the Presidency Trio, representing the EU in relation to multilateral institutions, in particular, the OECD and the WTO, and coordination of Member States’ positions within the International Working Group on Export Credits.
The three main priorities of the SK PRES in the area of export credits, which are also included in the program of the Presidency Trio – the Netherlands, Slovakia and Malta, are as follows:
- engaging non-OECD and EU countries in officially supported export credits;
- simplified conditions of receiving state support for exporting SMEs;
- integration of the COP 21 outcomes into the rules for officially supported export credits.
The symbolic passing of the Presidential hammer from the representative of the Dutch Ministry of Finance – Luc Bool – into the hands of the ECG President – Director of International Relations Department of EXIMBANKA SR – Silvia Gavorníková.