AOFI Achieved 12 Percent Growth of Export Insurance

AOFI Achieved 12 Percent Growth of Export Insurance

BELGRADE, 4 December (Tanjug) – The director of the Serbian Export Credit and Insurance Agency (AOFI) Milanko Bogosavljevic stated today that the agency achieved a 12 percent growth of export insurance compared to the previous year.

AOFI provides insurance for about 6 percent of export operations from Serbia annually, Bogosavljevic announced to the press on the break of the two-day session of the Berne Union Prague Club that has started today in Belgrade.

The main topic of this session hosted by AOFI is support to exporters through the insurance institute, which means reduction of their risk on the foreign market, said Bogosavljevic.

Taking into consideration the fact that the state supports small and medium enterprises, insurance of export activities represents a non-financial way of assistance to economy by reducing the risk in business operations, said the director of AOFI.

The Deputy Secretary General of the Berne Union, Fabrice Morel, said that the members of this association yearly insure more than 10 percent of the world exports.

Members of the Berne Club have a significant role in the world trade and in overcoming the world economic crisis, said Morel.

The chairperson of the Prague Club, Ola Gadallah said that the Berne Union Prague Club is an organisation that supports export credit organisations of South East Europe and Central Asian countries and they meet twice a year, in spring and autumn.

Direct meetings help the development of national organisations for insurance of export operations, and also international trade, said Gadallah.

AOFI became member of the Prague Club of the Berne Union in December 2006, at the session in Oman.

The Berne Union, founded in 1934 by private and public export credit insurance companies, now brings together all the major export credit insurance and foreign investment agencies and has contributed to the achievement of cooperation at the international level and acceptance of healthy principles of export credit insurances.

The Prague Club was founded in 1993 by the Berne Union and the European Bank for Reconstruction and Development (EBRD) with the aim to support and assist in development of newly established export credit insurance agencies; it was stated in the press release from the Ministry of Finance and Economy.