Czech Export Bank to increase Russia's share in Czech exports

Brno, Sept 11 (CTK) - The Czech Export Bank (CEB) wants to increase the share of Russia in Czech exports, CEB Deputy CEO Michal Bakajsa said at the international engineering trade fair (MSV) in Brno Tuesday.

"While exports to Russia account for nearly 4 percent in total Czech exports, in CEB's portfolio it has a dominant position with 40-50 percent. We want to help Russia in modernisation of its industry and at the same time open further opportunities for Czech exporters," Bakajsa said.

Last year, Czech exports to Russia reached a record of Kc92.6bn but accounted for only 3.2 percent in total exports.

In H1 2012, exports to Russia amounted to Kc58.5bn, accounting for 3.7 percent.

"Besides Russia, we have another 11 priority countries in which we want to open doors for Czech exporters. These are mainly countries in southeastern Asia, the Balkans and the former Soviet Union," Bakajsa said.

Czech exports to Russia (in Kc bn):

2012 (H1) 2011 2010 2009 2008 2007
58.5 92.6 67.3 49.6 67.5 57.6

Source: Czech Statistical Office