KazakhExport in media

KAZAKHEXPORT HAS SIGNED ITS FIRST AGREEMENT WITH A RUSSIAN INSURANCE AGENCY

For the first time, cooperation between Kazakhstan and Russia for export credit activities has been implemented. Now part of the risks of insuring short-term receivables of Kazakhstan exporters has been transferred to KazakhExport EIC JSC.

In Moscow, as part of the XIII International Conference “Eurasian Economic Integration”, a reinsurance contract was signed between the National Company KazakhExport and the Russian Agency for Export Credit and Investment Insurance Exar. This agreement will combine financial instruments of the two companies to support some Kazakh-Russian joint ventures, as well as exports of goods to third countries. The agreement is the result of a memorandum of cooperation between Kazakhstan, Russia, the Republic of Belarus and Armenia signed in 2017 at the Eurasian Week Forum. The memorandum specified the key parameters and principles, based on which the cooperation is being built now.

During the XIII International Conference, trade finance issues were discussed, in particular, support for mutual trade, where Ruslan Iskakov, Board Chairman of JSC KazakhExport EIC, informed of future plans for the corporate development, in particular, of measures taken under the Development Program approved jointly with the Government of the Republic of Kazakhstan.

The conference was attended by heads of ministries and departments, the Eurasian Economic Commission, national companies, representatives of international financial organizations, academic and business circles of the Bank’s member states, foreign scientists and experts.

In addition, at the international conference, issues of strengthening the role of national currencies in payments for exports and imports within the EAEU and Greater Eurasia, the single capital market of the EAEU and the ways of promotion were touched upon.

The mission of KazakhExport EIC JSC (being a part of the Baiterek NMH JSC’s structure) 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.