IBcontacts company and The Lebanese Credit Insurer (LCI) signed a Contract about collaboration

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On December, 2012 IBcontacts company signed a Contract about strategic collaboration in the sphere of credit insurance with The Lebanese Credit Insurer s.a.l. (LCI).

Kiev, Ukraine, January 24, 2013 - (PressReleasePoint) - On December, 2012 IBcontacts company signed a Contract about strategic collaboration in the sphere of credit insurance with The Lebanese Credit Insurer s.a.l. (LCI).

Operating in the field of international trade development and organizing the attraction of foreign financing for Ukrainian enterprises IBcontacts company steadily expands the geography of its activity and builds partnerships with leading insurance corporations of the world.

Lebanese export credit agency LCI became the eighth foreign ECAs, which officially authorized IBcontacts company to implement credit researches and assign credit ratings to Ukrainian enterprises, who intend to attract trade and project finance from Lebanon. In general IBcontacts collaborates with more than 23 export credit agencies in 43 countries.

For 9 months of 2012, volume of exports from Ukraine to Lebanon totaled $12,27 billion, a 27.7% increase on the same period of 2011. Imports from Lebanon to Ukraine for the 3rd quarter of 2012 remained practically at the level of three-quarters of 2011 - $2,27 million. The surplus of the Ukrainian-Lebanese trade balance amounted to $1.2 billion. (the third largest surplus in Ukrainian foreign trade). The main imports from Lebanon is tobacco raw materials. Among the most important goods of Ukrainian exports to Lebanon are steel products, agricultural products (wheat, corn, sunflower seed oil), and mineral fertilizers.

It should be noted that intergovernmental relations between our countries are very strong and comprehensive. Thus, at the intergovernmental level have been discussing the possibility of Ukraine's participation in the projects of construction of renewable energy objects (in particular, wind, solar and small hydro) in Lebanon. Also, Ukrainian government is interested in long-term contracts for the supply of agricultural products in Lebanon.

The potential of the Ukrainian-Lebanese trade and economic relations today is large enough, in this context, cooperation of Ukrainian companies with their Lebanese partners will only expand in the future. Strategic collaboration of IBcontacts company with the Lebanese Credit Insurer (LCI) in the field of credit insurance and business information will help both Ukrainian and Lebanese companies to discover new promising areas of their export activities and to expand commodity markets for their products.

Reference information

IBcontacts company specializes in the development of international trade relations and provides services on international export (trade) finance attraction, preparation of business documentation, risk management, market research and legal support for international transactions.
IВcontacts collaborates with more than 23 insurance and financial organizations in 43 countries and has the unique status of an authorized company for conducting credit research and assigning credit ratings to companies from CIS countries and Europe for 8 foreign export credit agencies.
IBcontacts company is the member of Association of Executives in Finance, Credit and International Business (FCIB) and Federation of Business Information Service (FEBIS).

The Lebanese Credit Insurer s.a.l. (LCI) is the first independent specialized Credit Insurance Company in Lebanon and the Middle East. It was established in 2001 as a joint venture between ATRADIUS (the second largest credit insurer in the world), a group of local and regional insurance companies and private holding companies.
LCI has forged partnerships with leading regional insurance companies, in Bahrain, Saudi Arabia, Syria, Jordan, Cyprus, Egypt, Oman, Kuwait, Qatar, and the UAE. LCI focus on domestic and export trade credit insurance (trade receivables insurance). Our policies cover manufacturers, trading companies and providers of services, against the risk of non-payment of their local and foreign customers.

In case of any questions regarding the contents of this press release, as well as for further information, please contact the Communications Department of IBcontacts company:

Cell.: +38 093 338 69 12,
Tel.: +38 044 359 02 00
pr@ibcontacts.com.ua
www.ibcontacts.com.ua