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Exporters Criticize Finance Provider Eximbank
Exporters, expressing that they have problems in credit utilization, complain that Eximbank's credits have come to a standstill.
Yazar: James Gordon
Yayınlanma: 8 Temmuz 2022 06:37
Güncellenme: 22 Kasım 2024 09:43
Exporters Criticize Finance Provider Eximbank
Exporters, expressing that they have problems in credit utilization, complain that Eximbank's credits have come to a standstill.
Industrialists and exporters demand that Eximbank, the financing provider of the export sector, take steps for a solution. Eximbank comments from company executives interested in exports: Uğur Dalbeler, Vice Chairman of the Board of Directors of the Steel Exporters' Association: The complexity of the successive decisions creates problems in financing. There are problems in both export financing and working capital. While there is a serious contraction in demand in the world, the environment should be relaxed for competition. We import 80 percent of the 60 percent of raw materials for production. Restrictions should be softened due to the exporter's need for foreign currency. Bülent Aymen, President of the Mediterranean Furniture, Paper and Forestry Products Exporters' Association: There is a serious problem in access to credit after the BRSA and CBRT's statements. Eximbank loans are almost closed. Foreign exchange restrictions need to be lifted for real exporters. We are in great difficulty in maintaining production and working capital. Export is still a running sector, and when it is restricted, serious problems arise. TOBB Ready-to-Wear and Apparel Sector Assembly President Şeref Fayat: There are definitely problems. We observe that banks demand different applications and different documents when applying for the same type of loan. We can say that this has locked the markets, which were experiencing a worse cash shortage before the feast. It is very difficult to access both rediscount credits and spot credits, which will be a lifeline for exporters. In fact, there were some banks that said that they closed their credit access completely because they did not understand the situation clearly. We are living in a period when recession is the talk of the world, which means that there are now very serious problems in our export markets. In Turkey's new economic model, exporters, especially those that earn foreign currency, should be able to access financing without the slightest problem. At a time when we are having difficulties in price stability, we also have to deal with the difficulty of selling these goods. Eximbank should be providing this financing to exporters with much simpler and easier applications, but we have to leave our normal work and try to understand the financing applications. Without financing in struggling markets, there may be very negative developments in export performance. Erdem Çenesiz, President of the Turkish Ceramic Federation: We think that these problems stem from the concern that the credits given will go into foreign currency. Therefore, banks, including Eximbank, are scrutinizing and giving loans more nervously. We can understand this; however, we think that a system in which loan payments can be made against invoices or payrolls, including Eximbank, should be adopted as soon as possible. It is obvious that there is a decrease in appetite and cautiousness in credit extension. Many of our members convey this message to us. If the financing problem is not solved, the capacity utilization of new investments may remain low. Source: BloomberghtİLGİLİ HABERLER
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