ANNOUNCEMENT 28 May 2015

In May 2015, the government of Republic of Korea announced a change in financial export support.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE



Korea Eximbank press release: Korea Eximbank Lays an Economic Cooperation Steppingstone into a Central Asian Hub Country
Available at: https://www.koreaexim.go.kr/site/program/board/basicboard/view?menuid=002001007&pagesize=10&boardtypeid=284&boardid=17019


Inception date: 28 May 2015 | Removal date: open ended
Still in force

Trade finance

On 28 May 2015 the Export-Import Bank (Eximbank) of Korea announced signing a framework agreement with the Republic of Uzbekistan's National Bank for Foreign Economic Activity. The agreement covers USD 2 billion in financial support from the Eximbank allocated to the cooperation activaties within this framework. Such activities include information exchange concerning Uzbek development projects, improvements to Uzbek regulations on foreign exchange and establishing preferential market access for Korean companies.

In this context the Bank's chairman stated: "This framework agreement with NBU opened the way for Korean companies to expand into Uzbekistan and to win development projects." and noted "Korea Eximbank will provide all-out support for Korean companies to enhance their competitiveness to participate in development projects in Uzbekistan. ... "
 

AFFECTED SECTORS

 
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AFFECTED PRODUCTS

 
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