Türk Eximbank - SERV Cooperation Türk Eximbank signed a memorandum of understanding with SERV, Switzerland's official export support institution, for general cooperation. Within the framework of Türk Eximbank's commitment to cooperation with international institutions, the Swiss counterpart institution SERV (Swiss Export Risk Insurance) has been added to the list of foreign export support organizations with which it has signed memoranda of understanding. At the signing ceremony held during the Turkey-Switzerland High-Level Economic and Trade Cooperation Meeting in Ankara, the memorandum of understanding was signed by General Director Ali Güney. Through the agreement, the two institutions aim to cooperate on various matters, including export credit insurance, in information exchange, and through insurance, coinsurance, reinsurance and guarantee mechanisms for joint projects that companies from the two countries will undertake in third countries.

Background

In Turkey, from the beginning of the 1980s, traditional import-substitution policies were abandoned and outward-looking policies were adopted, with exports gaining considerable importance. Within this restructuring process, the task of supporting exports was undertaken by Türk Eximbank, established in 1987. Türk Eximbank began operations in 1987 as an officially supported export financing institution and commenced implementing its programs in early 1988. Türk Eximbank meets the financing needs of the export sector in line with developments in the world and Turkish economy. In doing so, it provides services to a broad range of beneficiaries, from manufacturers and contractors operating abroad to tourism operators, international shipping companies, and providers of foreign currency-earning services such as software, engineering, and consulting. Türk Eximbank implements "Export Credit" programs that provide financing opportunities to the export sector at suitable costs, "International Credit and Guarantee" programs introduced to develop economic and political relations between Turkey and counterpart countries, and "Credit Insurance" programs that provide protection to the export sector against political and commercial risks. Since its establishment, Türk Eximbank has continuously implemented new programs taking into account the demands and needs of the export sector, and has made modifications to existing programs to meet the sector's financing requirements.