PAYMENTS AND EXPORT & IMPORT PROCEDURES: BUSINESS CASE IRAQ

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1 PAYMENTS AND EXPORT & IMPORT PROCEDURES: BUSINESS CASE IRAQ Swedish Trade Council Stockholm, October 9th, 2012 SWEDISH TRADE COUNCIL

2 AGENDA Doing business entails taking risks The choice of form of payment is of great importance Guranteed payment from EKN Non-residentilal clients Iraqi banks experince of payments to and from Sweden Arrange the export and import process and documents Ms. Yvonne Brycker, Exportrådet Ms. Yvonne Brycker, Exportrådet Ms. Lotta Danielsson and Mr. Victor Carstenius, EKN Mr. Lennart Holgerman, SEB Mr. Zaid A. Mahdi, Trade Bank of Iraq Mr. Jan Sjölander, Exportrådet Discussion SWEDISH TRADE COUNCIL

documents Ms. Yvonne Brycker, Exportrådet Ms. Yvonne Brycker, Exportrådet Ms. Lotta Danielsson and Mr.

3 DOING BUSINESS ENTAILS TAKING RISKS Customer risk (commercial risk) Financial risk Country risk (political risk) RISKS Currency risk Product risk Transport risk Make up your mind about which risks you are prepared to take and which risks need to be eliminated SWEDISH TRADE COUNCIL

risk Transport risk Make up your mind about which risks you are prepared

4 THE CHOICE OF FORM OF PAYMENT - Factors affecting Who is the customer, new or familiar? Customer s creditworthiness? Which country? The size of the amount? Timeframe? Kind of product? Commitments and facilitate financing? SWEDISH TRADE COUNCIL

Which country? The size of the amount? Timeframe?

5 THE CHOICE OF FORM OF PAYMENT IS OF GREAT IMPORTANCE To receive payment at the right time and minimize losses To facilitate a financial solution SWEDISH TRADE COUNCIL

6 EXAMPLES OF SECURE PAYMENTS Payment in advance Letter of Credits Payment Guarantee issued by bank EKN Guarantee Guarantee from private credit insurance companies SWEDISH TRADE COUNCIL

bank EKN Guarantee Guarantee from private credit

7 Doing business in Iraq 09/10/2012 Lotta Danielsson, Head of Marketing & Business Development Victor Carstenius, Country policy advisor

9 EKN is available for all types of export business, for all companies, on all markets, and in all trade conditions.

10 How can EKN help you succeed in your business?

11 EKN is available for all Swedish exporting companies. Large and small. Sales process Production Delivery Credit period Throughout /Negotiation the entire export process.

12 More and safer export transactions.

13 Bill of Exchange guarantee Letter of Credit guarantee EKN s guarantees Guarantee for lender Working capital credit guarantee Guarantee for trade receivables Counter guarantee

14 Country classification

15 22 August 2012

16 25 September 2012

17 Doing business in Iraq Opportunities High growth market Untapped consumer market Made in Sweden Risks Security situation Corruption and bureaucracy Payment delays and dispute resolutions

18 What can EKN do in Iraq? Country risk category 7 out of 7 Reflected in a higher insurance premium EKN is open for cover on: State of Iraq Iraqi banks, preferably Trade Bank of Iraq Corporate risks preferably in oil, gas and telecom sectors

19 What does EKN do? Guarantees: 34 MUSD Offers: 54 MUSD Sectors Telecom Transportation Construction Power

20 So how does it work?

21 Guarantee for trade receivables Risk Swedish exporter EKN Sales contract Guarantee for trade receivables Iraqi buyer

22 Guarantee for trade receivables, refinancing Risk Swedish exporter EKN Sales contract Guarantee for trade receivables Refinancing Iraqi buyer Bank

24 Documentation needed from the buyer Examples Audited financial statements Information on environmental and social conditions or effects Information such as project descriptions, business analyses, etc. The number and type of documents needed varies from case to case.

25 Anti corruption Sustainable lending Environment Social responsibility

26 EKN improves the competitiveness of Swedish companies. Our guarantees enables more and safer export transactions.

28 Swedish Trade Council October 9th, 2012 Doing business in Iraq

29 Founded 1856 by Mr A.O. Wallenberg Listed but still controlled by Wallenberg foundations 29

A Nordic bank with a global reach New York Dublin London Finland Norway Sweden Estonia Latvia Denmark Lithuania Warsaw Germany S:t Petersburg Moscow New

30 A Nordic bank with a global reach New York Dublin London Finland Norway Sweden Estonia Latvia Denmark Lithuania Warsaw Germany S:t Petersburg Moscow New Delhi Beijing Shanghai Hong Kong Luxembourg Kiev Singapore Geneva São Paulo Corporates & Institutions SME:s 4 million private individuals 30

31 Leading Relationship bank in our part of the world 31

32 Retail Non Resident 32

33 Our task To guide and help our foreign based clients into the Scandinavian, Baltic and North European financial markets. To appoint a personal Client Executive with team. To provide tailormade bankservices based upon the needs of the company or the private individual. To offer bank accounts in different currencies and repatriation of funds. 33

34 Non Resident strengths We are your key to the North-European markets. High availability and quality service. Non Resident speak 9 different languages. Multilanguage Internet client interface. SEB and our global banking network. 34

35 SEB Non Resident - Contacts Non Resident Corporate Clients Phone: [email protected] Postal adress: ST S7, SE Stockholm, Sweden Visits: Sveavägen 8, Stockholm 35

36 BUSINESS CASE IRAQ - arrange the export and import procedures Stockholm October 9th, 2012 Jan Sjölander Swedish Trade Council Box 240 SE Stockholm SWEDEN Tel Direct Fax [email protected] SWEDISH TRADE COUNCIL 36

37 EU/SWEDISH RULES FOR EXPORT TO IRAQ Most goods can be exported to Iraq without any restrictions. Exceptions: Arms and related material of all types, including weapons and ammunition, military vehicles and equipment, paramilitary equipment and spare parts for the aforementioned. An electronic export declaration must be submitted to the Swedish customs, either by the exporter or by the freight forwarder as an agent for the exporter, when goods are exported to countries outside of the EU. SWEDISH TRADE COUNCIL

38 IMPORT RULES IN IRAQ Most goods can be imported to Iraq without any restrictions. A reconstruction levy of 5 percent of the total taxable customs value of all goods imported into Iraq from all countries will be applied. Exceptions are food, medicine, clothing, books, humanitarian goods. General document requirements: Invoice, certificate of origin and, for some products, certificate of conformity. As a general rule the invoice and the certificate of origin must be legalized by the Embassy of Iraq in Stockholm. For more information, see Skeppningshandboken : SWEDISH TRADE COUNCIL

39 OTHER A Partnership and Cooperation Agreement between the EU and Iraq was signed on May 11th, Some parts of the agreement are applied provisionally from August 1st, SWEDISH TRADE COUNCIL

40 PAYMENTS AND EXPORT & IMPORT PROCEDURES: BUSINESS CASE IRAQ Yvonne Brycker, Senior Project Manager, Exportrådet Lotta Danielsson, Head of Marketing & Business Development, EKN Victor Carstenius, Country Policy Advisor, EKN Lennart Holgerman, Head of Corporate, Non Resident, SEB Zaid A. Mahdi, Trade, Vice President, Foreign Exchange Media & PR, Trade Bank of Iraq Jan Sjölander, Project Manager, Exportrådet SWEDISH TRADE COUNCIL

Citi Global Financial Conference Hong Kong, 19 November 2013

Citi Global Financial Conference Hong Kong, 19 November 2013 Hanse Ringström, Chairman SEB Asia Ulf Grunnesjö, Head of Investor Relations 1 SEB the Nordic corporate bank with a global reach Income distribution