AOFI’s mission is to enable Serbian exporters to maintain continuous operations and to help them retain their presence on existing markets and break onto new ones, says AOFI Director Dejan Vukotić
With the 20th anniversary of the work of the Export Credit and Insurance Agency of the Republic of Serbia approaching, director Dejan Vukotić shares his insights into the agency’s previous work and achievements, as well as ambitious plans that are designed to meet the needs and desires of export-oriented businesses while also taking into account future opportunities and challenges.
By insuring receivables, AOFI provides exporters with security and certainty of payment, which is crucial for their smooth operations, particularly during times of crisis. Are the number of client requests and the countries that you cover growing?
— Certainly our primary goal, and indeed our responsibility, is to help Serbian exporters maintain liquidity through our receivables insurance and factoring services. Our importance becomes particularly evident when supply chains slow down or break, as well as when Serbian exporters enter new markets. The number of requests for receivables insurance from clients has been growing steadily, which clearly indicates that we are on the right track.
Support for innovative businesses is essential, because the economy is no longer developing in the same way it once did, which is why the development of technological entrepreneurship needs to be supported
In cooperation with the Government of the Republic of Serbia, and in particular the ministries of economy and finance, we will do everything to further facilitate the operations of our exporters in the coming period, through the implementation of both existing and new programmes.
Receivables insurance is not the only service you offer. You also provide guarantees, short-term loans, factoring and support for innovative businesses. Is this last service new?
— As an institution that promotes and supports Serbian exports, AOFI has developed a range of products and services to enable export-oriented businesses to compete against international competitors on an equal footing. Our products and services are designed to support our exporters from the moment they secure an export deal through to the collection of payments for their exports. Support for innovative businesses is essential because the economy no longer develops in the same way it once did, which is why the development of technological entrepreneurship needs to be supported. We are doing everything possible to advance in all directions.
The export growth seen in 2023 continued into the first six months of this year, and AOFI has followed the growth trajectory of Serbian exports by not only increasing the number of insured clients, but also by expanding their coverage. We insure the buyers of our exporters in over 80 countries worldwide, while we additionally offer clients the purchase of insured receivables, further strengthening their market and financial position.
Next July will see you celebrate the major milestone of 20 years of AOFI’s existence and operations. Are you preparing for this anniversary with major plans and even greater satisfaction with the results achieved?
— Every milestone requires reflection, thorough analysis and planning. We do this on a monthly basis, but the 20th anniversary will mark an incredibly significant and turbulent period. We are of course proud of our work, though in the belief that we can always do even more and even better. All sectors work diligently; we are maintaining our momentum, but we must also keep up with demands and trends. We approach planning seriously, with understanding for various perspectives, challenges and demands. By truly understanding the needs of our clients, working to improve the Serbian economy and fostering teamwork – which has always been important to us – I’m confident that more success and positive results will follow!