Legislation

Eximgarant of Belarus initiated the Decree No.534 dated August 25, 2006 “On promoting the development of exports of goods (works, services)”.

The Decree legally gives Eximgarant of Belarus the EXCLUSIVE right to provide export credit insurance on behalf of the government.

IIn 2021, Decree of the President of the Republic of Belarus No. 534 dated August 25, 2006 “On promoting the development of exports of goods (works, services)” undergone substantial changes (Decree of the President of the Republic of Belarus No. 39 dated February 4, 2021 “On Amendments to the Decrees of the President of the Republic of Belarus”), according to which Eximgarant of Belarus provides officially supported export credit insurance, as well as export credit insurance is rendered by commercial organizations implementing their insurance activity in accordance with license and owning a capital no less than 25 mln. BYN.

In accordance with the Decree of the President of the Republic of Belarus No. 534 dated August 25, 2006 “On promoting the development of exports of goods (works, services)”, the national complex system of financing and insuring foreign trade deals against political or commercial risks has been established, including a set of mechanisms of financing and insuring foreign trade deals against political and commercial risks.

Thanks to the establishment of an export promotion system, progressive financial instruments used in international trade ensuring the competitiveness in foreign markets not only with regard to the quality of products, but also regarding the terms of its sale, are available for the Belarusian enterprises.

The exporter gets access to credit resources available at Commercial Interest Reference Rates (CIRRs) in EUR and USD.

Legal Framework of Export Promotion:

• The Decree of the President of the Republic of Belarus No. 534 dated August 25, 2006 “On promoting the development of exports of goods (works, services)”;
• The Resolution of the Council of Ministers of the Republic of Belarus No. 260\5 dated May 4, 2021 “On export financing”;
• The Resolution of the Council of Ministers of the Republic of Belarus No. 262 dated May 5, 2021 “On export insurance with State support”;
• The Resolution of the Council of Ministers of the Republic of Belarus No. 249 dated April 23, 2021 “On the establishment of the list of the banks authorized on provision of export loans”;
• The Resolution of the Council of Ministers of the Republic of Belarus No. 58 dated January 24, 2023 “On the terms of export financing”;
• The Decree of the President of the Republic of Belarus No. 93 dated March 14, 2022 “On additional measures to ensure stable operation of the economy”;
• The Resolution of the Council of Ministers of the Republic of Belarus No. 691 dated October 17, 2023 “On Amendments to the Resolutions of the Council of Ministers of the Republic of Belarus in terms of export financing”;
• The Resolution of the Ministry of Finance of the Republic of Belarus No.16 dated February 7, 2003 “On establishing standard of liability under non-life voluntary insurance contracts (coinsurance, reinsurance)”;
• The Resolution of the Council of Ministers of the Republic of Belarus and of the National Bank of the Republic of Belarus No.369/11 dated June 3, 2023 “On changing the Resolution of the Council of Ministers of the Republic of Belarus and of the National Bank of the Republic of Belarus No. 363\13 dated June 7, 2022”;
• The Resolution of the Council of Ministers of the Republic of Belarus and of the National Bank of the Republic of Belarus No. 363\13 dated June 7, 2022 “On carrying out by legal entities - residents of the transactions connected with exports”;
• The Resolution of the Council of Ministers of the Republic of Belarus No. 209 dated April 6, 2022 “On the list of the foreign states making unfriendly actions concerning the Belarusian legal and/or physical persons”;
• The Decree of the President of the Republic of Belarus No. 280 dated May 19, 2008 “On the inclusion of insurance premiums for voluntary insurance services except life insurance in the costs of production and sales of products and goods (works, services)”;
• The Decree of the President of the Republic of Belarus No. 294 dated July 17, 2024 “On subsidiary responsibility”;
• The Decree of the President of the Republic of Belarus No. 178 dated March 27, 2008 “On the procedure of performing and supervising foreign trade operations”;
• The Decree of the President of the Republic of Belarus No.358 dated August 11, 2011 “On the promotion of the sales of goods”;
• The Resolution of the Council of Ministers of the Republic of Belarus and of the National Bank of the Republic of Belarus No. 1209\9 dated August 21, 2008 “On some measures for the implementation of the Decree of the President of the Republic of Belarus No. 354 dated June 26, 2008”;
• The Resolution of the Executive Board of the National Bank of the Republic of Belarus No. 101 dated July 9, 2009 “On the execution of foreign trade operations”;
• The Resolution of the Executive Board of the National Bank of the Republic of Belarus No. 138 dated September 28, 2006 “On the approval of the Regulations on allocation and employment by banks and non-bank credit and financial organizations of special reserves to cover potential losses related to assets and operations which were not revealed in the balance sheet”.