Credit Agricole Bank supports Trade Finance between Ukraine and Silk Road countries

On October 4^th, 2017 Kyiv hosted Ukraine Silk Road Trade Finance Forum organized under the auspices of EBRD and International Chamber of Commerce. The conference has been opened by the Vice Prime Minister Mr. Stepan Kubiv, who has underlined priority of Ukrainian trade diversification as a factor of political stability and economic growth.

As a leader of Ukrainian trade finance market Credit Agricole Bank has taken active part in organization and promotion of this event. The role of a forum’s sponsor has allowed Credit Agricole Bank to welcome at the event its important customers and position Credit Agricole Bank as the partner of choice for international banking community interested in TF development.

With foreign trade totalling more than 100% of its GDP, Ukraine is very much interested in efficient and diversified trade finance instruments, new sources of funding and risk coverage. Countries of Middle East, China, India and Far East are essential consumers of Ukrainian exports of agri and industrial products, as well as providers of electronics, pharma, equipment and other critical imports.

More than 200 guests attended the conference to discover opportunities of trade with the markets that constitute important and further growing share of Ukrainian foreign trade. Banks’ executives from MENA region, China, Korea and Japan have paid a first time visit to Ukraine. They have met with Ukrainian corporates – exporters and importers interested in establishing stable and efficient business contacts with the region’s trade counterparts and financiers.

The most promising areas of cooperation identified by Credit Agricole Bank together with the participants of conference comprise

• Facilitation of trade finance contacts with the support of reputable domestic banks and trade associations (ICC, industrial fairs);
• Cheaper financing of exports and imports via discounting of Letters of Credit issued on condition of deferred payment;
• Support of Ukrainian exporters by proactive establishing of relations with local bankers, eligible CA Group partners servicing midcorp segments of market.

As a part of global CA Group Credit Agricole Bank sees its advantages in trade with Silk Road countries. It is important to share business opportunities and direct more transactions through CA Group network, amplifying synergies in trade-related cooperation. As a follow-up of Ukraine Silk Road TF Forum CAU is targeting new TF deals and client projects exchange with CA CIB in UAE, China, India.

About Credit Agricole:

PJSC «CREDIT AGRICOLE BANK» is a modern universal bank owned by the leading financial group in Europe – Credit Agricole Group (France). The Group is a major partner of the French economy and one of the largest banking groups in Europe. It is a leading retail bank in Europe, having the largest portfolio of assets under management, being first in the field of bank insurance and third - in project financing in Europe. Credit Agricole has been operating in the financial market of Ukraine since 1993 and renders the entire range of banking services to private individuals, including VIP clients, and business. The Bank pays special attention to cooperation with agricultural enterprises. Reliability and business reputation of CREDIT AGRICOLE in Ukraine is confirmed by the highest possible FITCH ratings, leading positions in bank sustainability, bank deposit reliability and bank profitability rankings, as well as by 300 000 active private and 18 000 corporate customers, including international corporations, large Ukrainian companies and representatives of small and medium business.

Contacts:

Viktoriia Torianyk, Head of PR and Corporate Communications at Credit Agricole Bank. 

Phone: +38 044 581 07 45, e-mail: Viktoriia.Torianyk@credit-agricole.ua