Foreign economic activity. Industrial cooperation as part of types of foreign economic activity, its significance (the most important)

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Foreign economic activity. Industrial cooperation as part of types of foreign economic activity, its significance (the most important)

Lecture notes, cheat sheets

Directory / Lecture notes, cheat sheets

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9. Currency and financial and credit operations as a type of foreign economic activity

Currency and financial and credit operations as a type of foreign economic activity of enterprises and firms should be considered as facilitating, accompanying any foreign trade transaction in the form of financial obligations related to ensuring payment for the delivered products through specific forms of payment, as well as foreign exchange transactions performed in order to avoid exchange rate losses.

However, both foreign exchange and financial and credit operations can be considered as independent specific types of foreign economic activity in the financial and banking sector, serving the domestic foreign exchange market and foreign trade payments in the system of international settlements.

International currency relations - these are economic relations associated with the functioning of national currencies in the world market, monetary services for the exchange of goods and other economic relations between countries, the use of currency as a means of payment and credit. The subjects of currency relations are enterprises, companies, banks and other organizations, as well as legal entities and individual states engaged in foreign economic activity. The functions of currency relations are performed by the currency system - a set of monetary and credit organizations and relations that have developed between countries and are enshrined in agreements and state legal norms.

By implementation timeline currency transactions are:

▪ with immediate delivery of currency (supply of currency is assumed on the second business day from the date of conclusion of the transaction);

▪ urgent (when they are carried out, a currency risk arises, i.e. the possibility of deviation of future actual values of the exchange rate from those expected at the time of concluding a foreign exchange transaction.

According to the degree of categorization:

▪ categorical (mandatory for both counterparties);

▪ providing the right to one of the parties to execute or not execute the transaction.

According to the degree of freedom provided to the client:

▪ categorical;

▪ band.

Crediting of foreign economic activity in Russia is carried out in the following forms:

▪ providing loans for export-import operations;

▪ purchase of equipment on credit;

▪ issuance of debt on international capital markets;

▪ joint venture;

▪ co-financing;

▪ leasing;

▪ project financing.

Depending on the source of supply Loans are distinguished:

▪ private;

▪ government (state);

▪ mixed (private-public);

▪ loans from international institutions.

By species loans are divided into:

▪ commodity;

▪ foreign exchange.

By return period:

▪ short-term (up to 1 year);

▪ medium-term (up to 5 years);

▪ long-term (more than 5 years).

Co-financing - a method of obtaining a loan, in which the bank participates with its resources together with third parties in a specific project or gives joint guarantees for its implementation. Co-financing is used by government agencies and international financial institutions (World Bank, EBRD). In banking practice, parallel and joint financing is used. Parallel co-financing assumes that partner organizations allocate resources to the borrower separately. In a joint form, partners form a common fund of funds from which credit is provided for the purchase of goods and services.

Project Finance - project lending, involving the allocation of credit resources at a certain percentage, subject to the organization of a comprehensive plan for the creation and subsequent operation of an enterprise. At the same time, the repayment of loans that are necessary for the implementation of the project is carried out at the expense of funds received from the sale of the company's products in the domestic or foreign markets.

Author: Bobkova O.V.

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