The government of the Czech Republic has decided to improve insurance conditions for its companies that operate and collaborate with Ukraine. The changes involve expanding the options for insuring export credit risks, which is intended to support Czech entities in the Ukrainian market.
This is reported by Finway
New Opportunities for Czech Businesses
According to Deputy Prime Minister and Minister of Trade and Industry of the Czech Republic Karel Havlíček, the new regulations include an expansion of the range of insurance products, an increase in the duration of insurance, and a reduction in insurance rates for companies exporting to Ukraine. All these measures are being implemented by the state Export and Guarantee Insurance Company (EGAP). Havlíček emphasized that the updates will not lead to additional burdens on the Czech state budget.
“We have expanded the conditions for insuring export credit risks for Czech entities operating in Ukraine,” said Havlíček.
Enhancing Competitiveness of Czech Manufacturers
The Deputy Prime Minister explained that the decision was a response to the growing interest of Czech manufacturers in the Ukrainian market and the need to enhance their competitiveness compared to other European companies. He stressed that the Czech Republic aims to provide its entrepreneurs with the best conditions for operating in Ukraine.
Previously, Karel Havlíček noted that the Czech Republic plans to develop guarantee and insurance programs for companies wishing to enter the Ukrainian market. He also reminded that Ukraine has traditionally been among the top five most important trading partners of the Czech Republic among non-European Union countries and expressed confidence in maintaining this status in the future.