IMPLEMENTATION LEVEL

NFI

AFFECTED FLOW

Outflow (subsidised)

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

firm-specific

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 24 Oct 2014 | Removal date: open ended
Still in force

Trade finance

On 24 October 2014 the Japan Bank for International Cooperation (JBIC) signed three buyers credit agreements with the Government of Turkmenistan respectively amounting up to JPY 22.4 billion (ca. USD 186.82 million), USD 392 million and EUR 102 million (ca. USD 115.39 million). The loans finance Turkmenistan's state-owned gas company Turkmengaz's purchase of plant facilities from Japanese Kawasaki Heavy Industries, Ltd. among others in connection with the construction of a gas to gasoline plant.
In this context the Bank stated: 'thus JBIC's support through these loans will help create business opportunities for Japanese companies in the oil and gas sector of Turkmenistan, thereby contributing to maintaining and strengthening the international competitiveness of Japanese industries.
 
Buyer's credit agreements
JBIC provides direct loans named buyer's credit to overseas importers. Loans are obtained if it finances the purchase of Japanese machinery, equipment or technology in specific eligible sectors. The Bank hereto stated that these loans are intended to 'positively contribute to Japanese companies'. Further information can be found on the Bank's website under export loans.
 
The GTA includes state guarantees and other financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets, and from foreign subsidiaries.
 
According to UN Comtrade, no trading partner exceeded the GTA threshold of USD 1 million on the affected tariff lines in the year prior to the intervention. Thus, no affected trading partners have been identified.

AFFECTED COUNTRIES

MAP
TABLE
EXPORT

AFFECTED SECTORS AND PRODUCTS

439 Other general-purpose machinery & parts
8421 Centrifuges, including centrifugal dryers; filtering or purifying machinery and apparatus, for liquids or gases.
842119 Other
842121 For filtering or purifying water
842122 For filtering or purifying beverages other than water
842123 Oil or petrolfilters for internal combustion engines
842129 Other
842131 Intake air filters for internal combustion engines
842139 Other
842191 Of centrifuges, including centrifugal dryers
842199 Other

Please report this page in case you detect an inaccuracy in its content.