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In year 2008, 151 applications for export guarantees were submitted to KredEx, and as of the end of the year, new export guarantee agreements were concluded with 38 exporters for guaranteeing credit risks of 78 foreign buyers in credit limit amount of 186 million kroons. The export turnover guaranteed last year was 169 million kroons, and the commercial risk guarantee limit issued was 161 million kroons. A year before the relevant figures were 229 and 78 million kroons. As of the end of December, a liability was taken by offers to issue additional guarantee limits in the extent of approximately 200 million kroons. In the largest extent, export to Ukraine was guaranteed in 2008 - 134 million kroons, i.e. 79% of the total guaranteed export turnover. In year 2008, export guarantees above average were also issued to Kazakhstan (6%), Sweden (4%), Croatia (3%) and Russia (2%). „Even though state support regulations significantly limit the activity of KredEx in connection with export guarantees, an increasing interest of exporters in the second half of year 2008 could be noticed. The reason could be both insecurity in target export markets of Estonia and the increasing conservatism of private credit insurance providers,“ the manager of KredEx Andrus Treier stated. The interest of exporters considerably increased also in export guarantee directed to the states of the European Union, or the so-called EU guarantee. Whereas in year 2007, 15 agreements in the amount of 6 million kroons were concluded in the direction of the above mentioned states, in year 2008, 57 agreements in the amount of 28 million kroons were concluded. According to Andrus Treier, there still is no reason to predict a remarkable growth of the EU guarantees by KredEx, as due to the limiting state support regulations, at the moment it can be only used by companies with a yearly turnover of up to 2 million EUR. „The export potential of such small companies is generally not big, and they mainly operate in the internal market,” he added. From year 2001, KredEx has guaranteed the export transactions of more than 200 Estonian companies for more than one thousand foreign buyers in the amount of approximately 2.8 billion kroons.
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