The bill on state financial support of export activities reads that the state represented by the Cabinet shall create a public financial institution, Export Credit Agency (ECA), in the form of a public joint stock company for the purpose of insurance of Ukrainian exporters against commercial and noncommercial risks.

ECA will also guarantee the fulfillment of Ukrainian exporters' obligations during their participation in international tenders, and provide guarantees to banks on export credits, UKRINFORM reports.

The list of banks, with which the agency cooperates, shall be determined by the Cabinet of Ministers, which approves the ECA charter.

According to the explanatory note, the creation of this agency will boost the export of domestic goods, as well as help attract additional investment in the companies.

To ensure state control over the agency's activities, it is planned to set up a supervisory board on the state support of export activities.

As reported, in January-August, imports exceeded exports by $8.105 billion.

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