Lithuania’s Ambassador to Germany and Special Representative for EU External Relations in the German Foreign Office discussed the situation regarding the decision of private credit insurance company in Germany Euler Hermes to apply the rating of a maximum risk country for Lithuania.
On 27 July in Berlin, Lithuania’s Ambassador to Germany Mindaugas Butkus and Special Representative for EU External Relations in the German Foreign Office Rolf Mafael discussed the situation regarding the decision of private credit insurance company in Germany Euler Hermes to apply the rating of a maximum risk country for Lithuania, to limit and, in individual cases, to terminate crediting of the export of goods to Lithuania. The company took this decision a week ago.
The German official stressed that according to the German state assessment, based on the criteria of the Organisation for Economic Co-operation and Development (OECD), Lithuania was attributed to the category of stable and financially limited risk countries.
He informed that aiming at guaranteeing smooth development of bilateral trade, the Government of Germany had already addressed the European Commission regarding a permission to provide state insurance guarantees for the German export to the EU member states in cases when private export insurance companies refuse to take the risk.
R.Mafael also expressed belief that during the visit of the heads of Euler Hermes to Vilnius this week, current financial problems would be sorted out and a mutually acceptable decision regarding further cooperation would be made.