Press release

Kazakh food producers will get access to the supermarket shelves in Uzbekistan

Export Insurance Company “KazakhExport” JSC, Tashkent, June 21. Export Insurance Company “KazakhExport” JSC has signed a Cooperation Agreement with the largest supermarket chain in Uzbekistan.

Export Insurance Company “KazakhExport” JSC signed a Cooperation Agreement with DARVOZA SAVDO LLC- the owner of Makro supermarket chain today in Tashkent during the 18th meeting of the Joint Intergovernmental Commission on bilateral cooperation of Uzbekistan and Kazakhstan.

Makro is the largest supermarket chain in Uzbekistan; it exists in the market of Uzbekistan since 2010. It has 53 supermarkets across the country, 9 more are preparing to launch before the end of 2019.

Thanks to the agreement reached, Kazakh entrepreneurs have ample opportunities to sell their own products throughout Uzbekistan.

"We invite Kazakhstan producers to cooperate. The agreements reached with the banks of Uzbekistan and a large trading network provide access to Kazakhstan manufacturers of the processed products to the trading network throughout Uzbekistan. The support tools offered by us together with Uzbek partners greatly facilitate the access to the promising market of the Republic of Uzbekistan", - said Ruslan Iskakov, the Chairman of the Board of the Export Insurance Company “KazakhExport” JSC.

In addition, KazakhExport signed a Cooperation Agreement with Turonbank JSB, Ipoteka-Bank JSCIB and TengeBank JSB. EIC “KazakhExport” JSC and Uzbek banks agreed on joint financial support of the entrepreneurs of Uzbekistan and Kazakhstan in the amount of about 70 million US dollars.

The agreements reached will allow developing non-resource exports from Kazakhstan to Uzbekistan and open access to importers of Kazakhstan products to Uzbekistan with low-cost credit resources.

For 2018, KazakhExport supported contracts of 6 Kazakhstan exporters for the supply of confectionery, molasses, cattle meat and building materials to Uzbekistan. For 5 months of 2019, 8 Kazakhstan enterprises have already used the support of KazakhExport for the supply of sunflower oil, polymer products, mineral wool and coke to Uzbekistan, in addition to the above. The sum of the contracts for 2019 has already amounted to more than 3 billion tenge.

Currently, KazakhExport is working on the implementation of the promising contracts between the entrepreneurs of the two countries with the participation of banks of Uzbekistan in the amount of more than 6 billion tenge.

KazakhExport in Uzbekistan

A foreign representative office of KazakhExport operates in Tashkent. Its task is to establish contacts with the business community of Uzbekistan and Kazakhstan, as well as to inform entrepreneurs of the non-resource sector and financial institutions of the two countries about the support tools and prospects for business development.

Cooperation with the Banks of Uzbekistan

Since March 2019, KazakhExport has entered into strategic partnership agreements with JSC Aloqabank and JSCB "Qishloq Qurilish Bank" aimed at long-term cooperation in the field of insurance of Kazakhstan producers and financing businessmen of Uzbekistan purchasing products from Kazakhstan for delivery to Uzbekistan.

Export to Uzbekistan

KazakhExport has provided support to Kazakh exporters for the supply of the starch syrup, polymer products, and Kazakhstan-manufactured construction materials to the Republic of Uzbekistan with the support of Uzbek banks in the framework of the Export Trade Financing.  

Businessmen Support

To date, KazakhExport has supported more than 70 Kazakhstan exporters of both large and small and medium-sized businesses of the agro-industrial complex, light and food industries, metallurgy and chemistry. Kazakhstan products are exported to Azerbaijan, Armenia, Belarus, Germany, Georgia, Italy, China, Kyrgyzstan, Mongolia, Russia, Tajikistan, Turkmenistan, Uzbekistan, and Japan.

Foreign representative offices of KazakhExport

KazakhExport representative offices are opened in Kazan (the office works not only in Tatarstan, but also in the Volga Federal district as a whole), Tashkent (Uzbekistan), Dushanbe (Tajikistan) and XI'an (China). In accordance with KazakhExport Development Strategy, by the end of 2019, it is planned to open a network of representative offices in the border regions of Russia, as well as in the countries of Central Asia.

Reference:

The mission of Export Insurance Company "KazakhExport" JSC (member of Baiterek NMH JSC) is to support the growth of exports of non-primary goods, works, and services in priority sectors of the economy and to develop the practice of financial insurance and non-financial support for Kazakhstan enterprises.

 

Photo: gazeta.uz