Turk Eximbank, Hungarian Export Agency Ink Reinsurance Deal
Muhammad Irfan 16 days ago Mon 08th February 2021 | 05:30 PM
WASHINGTON, Feb 8 (UrduPoint / Pakistan Point News - 8th Feb, 2021 ) :Turk Eximbank on Monday signed a reinsurance cooperation agreement with MEHIB, Hungary's official export credit agency, Turkey's trade minister said on Monday.
The deal aims to facilitate insurance/reinsurance support to projects undertaken jointly by Turkish and Hungarian companies in third countries, with a faster and more efficient loan allocation process utilizing single documentation and common financial conditions.
Turk Eximbank has established similar strategic collaboration schemes with other regional/multinational financial institutions and banks.
The first concrete transaction as part of reinsurance agreements came after the deal was signed with UKEF, the UK's export support organization, in July 2020. The agreement, which aims to construct power plants in Iraq, includes the export of goods and services from Turkey.
Noting that there are tenders for high-speed trains and electric buses in Hungary, Pekcan said Turkish companies have a good chance to get the tenders.
Speaking about the transit document issue between the two countries, she said: "We still have some problems with our trucks waiting at the Romanian-Hungarian border. "Our transporters have some problems with the electronic registration system," the minister added.