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2ANALYSIS OF FINANCING PROCESSES OF PRODUCTION AND EXPORT
BOP PRODUCTION OF ENTERPRISES
Yorbekova D.M.
Teacher of Samarkand State University of Veterinary Medicine, Animal Husbandry and Biotechnology
Abstract: In this article, the analysis of the production potential of enterprises, creation of production of exportable products, financial support of enterprises' activities is covered in a broad sense. In addition, suggestions and recommendations have been developed for increasing the production capacity of enterprises.
Key words: enterprise, production, finance, export products.
In Uzbekistan, consistent efforts are being made to increase the export potential and provide comprehensive support to exporting enterprises. One of the important priorities is to further stimulate the export activities of business entities in the conditions of various economic crises.
Further development of financial and capital markets for the purpose of financing the production of exportable goods and services in Uzbekistan, in particular, providing pre-export loans and insuring export activities, is one of the tasks that cannot be delayed.
Currently, bank loans are the only source of financing export activities of exporting companies in our country. Along with trade loans, commercial banks offer short- and long-term loans and lines of credit for replenishment of working capital (financing of such purchases of raw materials and components, components and export activities).
In order to mitigate the impact of financial obstacles on the export potential of our country, financial funds are being attracted from international financial organizations. In particular, in the last quarter of 2024, to finance the costs of growing
cotton raw materials and the final calculations, Trade Financing International Islamic Corporation 100 mln. Loans amounting to US dollars were attracted.
Taking into account these factors, the Export Support Fund, which provides guarantees to exporters and covers a part of the expenses related to export activities, and the Export Credit Agency, which performs the tasks of pre-financing exports, will be established in our country. That is, new opportunities for export financing will appear for exporters in our country, in addition to bank loans.
According to a World Trade Organization (WTO) survey, lack of export financing was cited as one of the biggest obstacles to trade development (WTO (2019)). It has been proven that representatives of small and medium-sized businesses in particular face many difficulties in obtaining financial resources. 75% of rejected applications for trade financing belong to these enterprises.
In countries with well-functioning trade finance mechanisms, manufacturing enterprises will be able to join the ever-expanding Global Value Chain (GVC) and contribute to increased employment and productivity.
Conversely, due to the lack of pre-export financing, working capital replenishment options, exporters worry about not having enough cash flow to expand production during peak production seasons or when unexpected orders come in.
If we look at the experiences of the countries of the Organization for Economic Co-operation and Development (OECD) to eliminate market failures, financial support for exporting companies of these countries, in particular, providing pre-export loans, finding foreign markets, assisting in transport logistics, certification, standardization and quality control issues , established export-credit agencies to help organize international commodity exhibitions and trade fairs.
For example, Export Development Canada (EDC), Canada's export credit agency, has been helping Canadian exporters and investors expand their businesses in nearly 200 international markets since 1944. EDC's products and services include consumer country commercial and political risk insurance, financing services for
Canadian companies and their clients, bond solutions and information on opportunities in international markets.
In conclusion, it should be noted that countries that have followed the path of export-based economic development have established export credit and insurance agencies in order to provide financial support to exporting enterprises and organizations. In these countries, state intervention changed the prices of production factors, increased the volume of production and served to raise the economy to the optimal level of production.
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