Eurobank EFG announced today a range of initiatives aimed at promoting the export orientation of the Serbian economy. As a first step, Eurobank EFG will support this year’s award for the “Exporter of the Year”, organized by the Serbian Investment and Export Promotion Agency (SIEPA).

The Bank will grant the award for the best exporter in the category of small and medium-sized enterprises (SME) in the amount of EUR15,000. The award for the exporter of 2010 will be granted for the improvement of export activities, and the criteria include product quality, export markets and exported volume.

Eurobank EFG initiative to support exports is dictated by the need to improve competitiveness and “openness” of the Serbian economy, thus to establish favorable conditions for attracting capital in the country: “As the bank which strongly supports the Serbian economy, Eurobank EFG has introduced a range of products and services dedicated to exporters, including pre-export financing, tailor made loans in term of pricing and payments, interest rate hedging of FX loans and favorable terms for intra Group transactions.” – explains Velimir Babić, Head of SME in Eurobank EFG Corporate Banking Division.

SIEPA announced the seventh contest for the “SIEPA Exporter of the Year” Award, and applications are to be submitted by December 01 2010. The ceremony for the “Exporter of the Year 2010” Award will be granted on December 07, 2010, in five categories – best exporter of the year, best new export product, winning of new market, best exporter in the SME category, and best exporter in the CSR category.

The SIEPA has been granting this traditional award since 2004, aimed at stimulating the best export companies in Serbia for new export ventures at the end of each year.

Eurobank EFG’s initiative was launched in line with the new model of economic growth and development of the Government of the Republic of Serbia, based on the three pillars – inflow of new investments, support to the economy and investments in infrastructure. With its decision to sponsor the SIEPA award for the “Exporter of the Year”, Eurobank EFG once again confirms its focus on supporting state institutions in their efforts aimed at recovering the economy and the path to market reforms.

Sponsorship of the award of the “Exporter of the Year” is only one of the Eurobank EFG activities aimed at improvement of export orientation of small and medium enterprises, as well as Large Corporate; after the selection of the best exporter, Eurobank EFG plans to hold a key-note speaker conference for exporters at the beginning of 2011.