Information published on 5 June 2012 in the UIC electronic newsletter "UIC eNews" Nr 295.

Annual OSJD / UIC finance experts seminar

  • Finance

UIC attended the annual OSJD/UIC finance experts’ seminar, organised by Mr Petkov – Chairman of the OSJD permanent working group on finance and accounting, during the annual experts meeting hosted this year by Romanian Railways in Predeal from 28 – 31 May.

Many representatives took part in the meeting and seminar: Baltic Railways (LG, LDZ, EVR), Ukrainian Railways (UZ), Chinese Railways (MOR, KZD), Kazakhstan Railways (KTZ), Mongolian Railways (MTZ), Polish Railways (PKP Cargo), Russian Railways (RZD), Bulgarian Railways (BDZ), Hungarian Railways (MAV, RC Hungaria) and Romanian Railways (CFR Calatori and Marfa) to discuss several finance points:

  • What are the risks and financial impacts of rapidly developing newcomers with private company status and the privatisation of former railways
  • How to manage railway company capital sold to private interests
  • What kind of explanations and solutions to reduce long-term outstanding transport debts
  • How to increase the circulation and revenues of wagons

Mrs Lim – UIC Finance Director in charge of financial matters amongst members (also present at the Finance Committee), took part in the discussions and had the privilege of sharing UIC’s experience with OSJD’s remarks and questions, specifically on how UIC is:

  • Extending railway cooperation rules to newcomers
  • Dealing with TSI mandatory rules for all European union members, whether or not UIC members
  • Working in a win-win partnership with private interests such as wagon keepers, new railway associations (ERFA)
  • Promoting multilateral solutions instead of bilateral decisions in order to protect the interest of all members

Discussions took place regarding the high penalty interest rate for long delays in payments and payment penalty for long delays in payments and on principles promoted by UIC to:

  • Acquire information on debtors’ difficulties
  • Find quick solutions in order to avoid prolonging difficulties and mix between former and present transport relations
  • Give preference to traffic promotion rather than sanctions

After these broad discussions and sharing common difficulties and possible solutions, the decision was taken to widen the scope of participating railways involved in discussion. The annual experts’ meeting could take place in Paris in May 2013 in order to open the seminar to more European members.

For more information please contact Marie-Eve Lim: lim@uic.org