Eximbank model at foreign trade financing in EU and consistency of Eximbank programmes to EU

Export finance means to support the exporter and/or the buyer, whothe exporter will send a shipment to, during the period before and after theshipment occurs with methods of credit and/or insurance. The systems ofexport finance includes a compound of seller/buyer,preshipment/postshipment and credit/insurance groups. The economicsystem of a country, the situation of its main industrial sectors and marketsand the degree of growth in the banking and insurance sectors of itdetermine the opportunities and the application rules which are offered to itsexporters. Besides, because the exporters have problems in common andmany systems approach the problems in a similar way there are commonsolutions offered by different systems. In developed countries the concept ofexport credit is based on insuring and guaranteeing the commercial andpolitical risks sourcing from the buyer and buyer?s country by the exportcredit/guarantee agency (ECA) and thus the seller country. Whereas indeveloping countries crediting, insuring or guaranteeing the export occurstogether. Eximbanks are specialized institutions which are established tosupport export credit.Türk Eximbank, established in 1987, does not only provide theexporters with credit programs that enable them to finance their exportactivities but also provide them with the insurance/guarantee programs whichprotect them from the commercial and political risks. It is a specialized bank,established in export finance, which has an important place in supportingexport in Turkey.In 1994 Turkey?s joining to WTO, in 1996 signing Custom Unionagreement with EU, and in 1999 Turkey?s gaining candidate status for joiningin EU, have forced Türk Eximbank to take into consideration its foreign tradepolicy in general and its export incentive policy in particular again and also toadapt these policies to its international commitments.Türk Eximbank after joining to CU, starting from 1996 has begun toreorganize its credit, guarantee and insurance applications in accordancewith the obligations of CU. Along with this, in ?National Programme for theHarmonization of the Turkish Legislation with the EU Acquie? which waspublished in 2001, determining, coordinating and controlling state aid inTurkey, its deficiencies and what should be done according to EU rules,providing coordination between applications, convenience with the EUcompetition policies and pursueing the applications and forming restructuresin order to evaluate the results are being suggested.In the EU Govermental Level Conference, which took place onOctober 3rd, 2005, with the approvement of the framework document fornegotiations with Turkey on its accession to the EU, membershipnegotiations formally started. Starting from this date on, Türk Eximbank hasentered into a dynamic period of examining the ?EU Acquie? and making thenecessary legal changes.