Economy • 28 November, 2018

KazakhExport, EXIAR to support Kazakh-Russian JVs

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Kazakhstan and Russia, for the first time, started cooperating in the field of export credit activity, wrote

Now part of the risks of insuring short-term receivables of Kazakh exporters is covered by KazakhExport Export Insurance Company JSC, according to the website of the company.

In Moscow, within the framework of the 13th International Conference on Eurasian Economic Integration, a reinsurance agreement was signed between KazakhExport and the Russian Agency for Export Credit and Investment Insurance (EXIAR). This agreement combines the financial instruments of the two companies to support 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, Belarus and Armenia signed in 2017. The memorandum identified the key parameters and principles on which the joint work is now being built.

During the conference, issues of trade financing were also discussed, in particular, support for mutual trade. KazakhExport Chairman of the Board Ruslan Iskakov informed about future plans for the development of the company.

The international conference also touched upon the strengthening of the role of national currencies in payments for exports and imports within the EEU and Greater Eurasia, the EEU single capital market and ways of promotion.

The mission of KazakhExport is to support the rise in exports of non-primary goods and services in priority sectors of the economy and to develop the practice of financial-insurance and non-financial support of Kazakhstan enterprises.

By 2023, KazakhExport plans to become the key development institution in the implementation of the state foreign economic policy of Kazakhstan in the Central Asian region and the countries of the Eurasian Economic Union.

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