Heads of the EAEU ECA met in Kazakhstan

On August 16-18, 2023, a meeting of the heads of export credit agencies (ECAs) of the Eurasian Economic Union (EAEU) countries was held at the KazakhExport base.

The heads and experts of the EAEU agencies meet on a regular basis to discuss current issues and determine vectors for further cooperation. The meeting in Kazakhstan aimed to share experience among the Union's ECAs under the current external restrictions, interaction in decision-making on joint projects, and issues of further communication within the framework of the creation of the Eurasian Reinsurance Company.

The event was attended by the Chairman of the Board of Directors of KazakhExport and Deputy Chairman of the Board of Baiterek NMH JSC Adil Mukhamedzhanov, Chairman of the Board of KazakhExport Aslan Kaligazin, General Director of Eximgarant of Belarus Gennady Mitskevich, General Director of EXIAR JSC Nikita Gusakov, Acting Director of Export Insurance Agency of Armenia ICJSC Karen Ivanov and others.  

The participants discussed the role of ECAs in the development of trade finance, the prospects the creation of the Eurasian Reinsurance Company, cooperation in reinsurance, mechanisms for the exchange of information between ECAs for underwriting, and support for manufacturing exports.

Eximgarant of Belarus, as the national export credit agency of the Republic of Belarus, provides insurance coverage for risks in the export of goods (works, services) by Belarusian organizations, promotes the development and strengthening of the country's export potential through the effective functioning of the national export promotion system. Thus, since 2007, Eximgarant of Belarus has provided insurance coverage under concluded export risk insurance contracts with state support in the amount of 9.2 billion US dollars.

In the first half of 2023, the amount of liability assumed by Eximgarant of Belarus, under newly concluded export risk insurance contracts with state support increased by more than 10 million US dollars compared to the same period last year, and amounted to 426.7 million US dollars. The EAEU countries accounted for 82.6% of insurance coverage (including Russia – 75% and Kazakhstan − 7%).

As of July 1, 2023, export contracts account for 19% (81 million US dollars), export factoring – 28% (119 million US dollars), export loans – 53% (226.3 million US dollars) in the structure of the Eximgarant of Belarus insurance portfolio of export risks with state support.

The result of the event was an agreement to hold a meeting this year on the basis of JSC Russian Export Center at the level of ECA experts on current issues of export credit insurance.
Photo, from left to right: Acting Director of Export Insurance Agency of Armenia ICJSC Karen Ivanov, General Director of EXIAR JSC Nikita Gusakov, Chairman of the Board of Directors of KazakhExport and Deputy Chairman of the Board of Baiterek NMH JSC Adil Mukhamedzhanov, Chairman of the Board of KazakhExport Aslan Kaligazin, General Director of Eximgarant of Belarus Gennady Mitskevich