Legislation

The Decree legally gives Eximgarant of Belarus the exclusive right to provide export credit insurance with State support.

In accordance with the Decree of the President of the Republic of Belarus № 534 dated 25.08.2006 “On promoting the development of exports of goods (works, services)”, the national complex system of financing and insuring foreign trade operations against political or commercial risks has been established, which includes a set of mechanisms of financing and insuring foreign trade operations against political and commercial risks.

The establishment of an export promotion system has made available for Belarusian enterprises progressive financial instruments used in international trade which ensure their competitiveness in external markets not only with regard to the quality of products, but also with regard to terms of sale.

The exporter gets access to credit resources available at commercial interest reference rates (CIRRs) in euros and US dollars.

The legal framework of export promotion:

• The Decree of the President of the Republic of Belarus dated August 25, 2006 № 534 “On promoting the development of exports of goods (works, services)”.
• The Decree of the President of the Republic of Belarus dated May 19, 2008 № 280 “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 dated March 27, 2008 № 178 “On the procedure of performing and supervising foreign trade operations”.
• The Decree of the President of the Republic of Belarus dated August 11, 2011 № 358 “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 dated August 21, 2008 № 1209/9 “On some measures for the implementation of the Decree of the President of the Republic of Belarus dated June 26, 2008 № 354”.
• The Resolution of the Executive Board of the National Bank of the Republic of Belarus dated July 9, 2009 № 101 “On the execution of foreign trade operations”.
• The Resolution of the Executive Board of the National Bank of the Republic of Belarus dated September 28, 2006 № 138 “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”.