Minimizing risk in global expansionFood Industry
Originally Published in April 2017
KUKE is an export credit agency that provides insurance services to Polish entrepreneurs. For more than 25 years, the company has covered export and domestic transactions to ensure safe trade. KUKE is the only company in Poland authorized to provide export insurance backed by the State Treasury, allowing it to cover markets exposed to higher political risk and long-term transactions concerning deliveries of capital goods.
“KUKE is a key element of the state export support system. Our aim is to help Polish businesses grow internationally. Through our insurance products, bonds and financing solutions we have supported exporters take advantage of new contracts opportunities that may otherwise have been out of reach. Recently we have become a part of the Polish Development Fund – a hub integrating institutions responsible for implementation of the economic development plan adopted by the Polish government. The idea is to create a one-stop-shop for companies planning to expand their business globally.” says Piotr Stolarczyk, Vice President of KUKE.
KUKE offers a wide range of services: trade receivables insurance, bonds, factoring, and insurance of direct investments abroad. Since its foundation, KUKE has partnered with Bank Gospodarstwa Krajowego, Polish Investment and Trade Agency, Polish Agency for Enterprise Development, Association of Polish Exporters, and Berne Union.
KUKE is currently working on 66 projects concerning exports of capital goods which are in various stages of advancement with a total value exceeding 3 billion euros.
Poland is strengthening its economic presence in the world. In order to stimulate the expansion of Polish companies on the global market, KUKE has modified its business strategy. Its actions are more client-centered, more flexible and paired with a faster decision-making process. Also, KUKE participates in foreign trade missions, working closely with Polish exporters and their partners abroad. In 2016, the value of export transactions insured by KUKE totaled 3.2 billion euros.
KUKE plays an important role in the development of Polish companies by providing advisory support in the early stages of the foreign expansion and providing solutions tailored to the individual requirements of Polish exporters. Its financial facilities are comparable to those available in other export credit agencies abroad. Therefore, Polish entrepreneurs are able to receive similar support as their foreign competitors in terms of insuring and financing export transactions. In cooperation with partners from the Polish Development Fund Group, KUKE offers insurance products, debt financing, factoring, guarantees and letters of credit.
Recently, KUKE has taken actions toward developing partnerships with the Polish and foreign banks in an effort to analyze the willingness of banks to finance export transactions as well as to build up its portfolio of projects and relations with Polish exporters of capital goods. KUKE is currently working on 66 projects concerning exports of capital goods which are in various stages of advancement with a total value exceeding 3 billion euros.
- Berne Union – member since 1999 of the union that promotes uniform principles for export credit and investment insurance.
- OECD – works with the Organisation for Economic Cooperation and Development to establish rules governing the financing of export transactions supported by the state.
- Export credit agencies – cooperates with foreign export credit agencies based on bilateral cooperation agreements. Signed cooperation agreements with export credit agencies in over 25 countries.
- Reinsurance of export credits – cooperates with export credit agencies concerning mutual reinsurance of medium- and long-term export credits. Signed reinsurance agreements with export credit agencies in 15 countries.
- European Union – participates in meetings of the Council Working Group on Export Credits (CWG Group).
- Credit Alliance – founding member and partner since 1994 of the network of export credit insurers, business intelligence agencies, rating firms and debt collecting agencies in over 100 countries.