The pivotal role of ‘Export Credit Greece’ (ECG) in promoting the objectives of economic diplomacy was underlined by the Deputy Minister of Foreign Affairs for Economic Diplomacy and Openness, Kostas Fragogiannis, during the presentation of ECG’s new corporate identity.
The Deputy Minister emphasized the significance of ECG’s existence, particularly for small and medium-sized enterprises – which make up the majority of businesses in Greece – as they are in greater need of support for their internationalization efforts than large multinational corporations.
Referring to the new guarantee, insurance and financing products provided by ECG, Mr. Fragogiannis explained that they cover the needs not only of Greek export companies, but also of financial institutions involved in international trade transactions.
“The new Hellenic Export Credit Company – internationally to be known as ‘Export Credit Greece’ – will serve as a one stop shop for the companies’ activities in international markets, offering additional advisory and support services to export companies. ECG is a modern, flexible, client-oriented institution, designed and adapted to the needs of Greek exporters. And it is yet another significant reform, among the many that have been implemented during the last three years”, Mr. Fragogiannis pointedly said.
Addressing the event, Secretary General for International Economic Affairs and Openness and President of Enterprise Greece, Ioannis Smyrlis, said: “The leadership of the Ministry of Foreign Affairs, realistically assessing the constantly changing situation in the field of trade and exports, as well as the need to strengthen the extroversion of Greek entrepreneurship, has developed and is implementing radical restructuring of the national export credit agency”.
Mr. Smyrlis added that “through the expanded activity of the Hellenic Export Credit Company it is estimated that over the course of five years it will have supported exports of more than €8 billion, creating a corresponding value added to GDP, but also a significant increase in employment through the creation of direct and indirect jobs”.
In a statement following the event, Export Credit Greece CEO Gregory Stamatopoulos said: “Today we presented the new corporate identity of Export Credit Greece, and we also presented a timetable for the implementation of the reforms, voted in on March 31, so that Greek exporters have learnt when new products will be introduced to the market and what direction we are moving in”.