Gov't to hopes new export guarantees will help recapture Eastern markets

Exports to former USSR countries are growing again. This is a huge market with over 200 million consumers. The government recently approved a program with the goal of boosting exports to the East by 20% before the end of 2004, so they will stand at the same level as they did in 1997. Exports are hindered by bureaucracy and trade risk which spurred the government to introduce a new system of export guarantees to protect traders. The planned changes include improving the Investment Credit Insurance Corporation, which is responsible for protecting exporters, and whose activities have been considered highly unsatisfactory. In 1997 the $4 billion ex-soviet export market, with a positive balance of $460 million was hit and never recovered from the Russian financial crisis. Last year exports stood at a little over half this value at $2.8 billion. (Gazeta Finansowa, Feb. 22-28, p. 2) J.K.