European experience of credit risk management in foreign trade
The article gives information on the influence of credit risks on country’s export potential. The article describes methods of credit risk minimization by means of government interaction in foreign trade relations of legal entities. The major idea of the article is the necessity of creation of specialized state insurance organization in Ukraine - export credit agency (ECA). The main task for Ukrainian ECA is seen in stimulation of Ukrainian export. The article analyzes France’s experience in creation of the state export credit agency - COFACE. The article also provides information on ECA’s created in other countries of the world. The article discloses major COFACE’s functions and ECA’s effect on the process of credit risk minimization and improvement of export potential of the country. The article identifies key problems of the improvement of Ukrainian goods’ competitiveness in foreign markets and provides the way they can be solved.
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Keywords: financial risks, export credit agency, international trade |
BANK OPERATIONS
Kharchenko Vilen
postgraduate Department of Banking management SHEI «Kyiv National Economic University named after Vadym Hetman»
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