A delegation from Kazakhstan’s Export Credit score Company (ECA) undertook a working go to to Kyrgyzstan, Uzbekistan, and Tajikistan. The enterprise group was led by Sergey Kuklin, Deputy Chairman of the ECA Administration Board.
Bishkek, Kyrgyzstan
The go to started in Kyrgyzstan, the place conferences had been held with the administration of O!Financial institution, KICB, Eldik Financial institution, and the State Insurance coverage Group. The events reviewed the yr’s outcomes for joint initiatives and recognized key areas for cooperation geared toward supporting the manufacturing business, stimulating demand, and increasing gross sales markets.
ECA introduced its assist devices tailor-made to numerous entrepreneurial wants, with particular consideration given to a brand new monetary product—export operation ensures. These ensures will allow Kazakhstan’s export-oriented producers to take part in worldwide tenders and broaden their presence in high-export-interest markets. Moreover, the product will facilitate entry to importer funds by offering ECA ensures as collateral for advance funds in export transactions.
In the course of the conferences, representatives of the State Insurance coverage Group of Kyrgyzstan addressed reinsurance points, emphasizing that inexpensive reinsurance considerably improves entry to financial institution loans and helps companies overcome working capital shortages.
Sergey Kuklin highlighted that because the quantity and quantity of assist improve, so do the related dangers. Increasing cooperation with insurance coverage organizations and worldwide reinsurance corporations will assist mitigate these dangers.
Notably, in 2024, the entire insurance coverage obligations undertaken to cowl export shipments to Kyrgyzstan amounted to 1.5 billion tenge.
Tashkent, Uzbekistan
The ECA delegation continued its working go to in Uzbekistan, holding bilateral negotiations with main monetary establishments, together with Kapitalbank, Orient Finance Financial institution, Asia Alliance Financial institution, Uzpromstroybank, and InfinBank, in addition to with the retail chain Korzinka, which operates over 150 shops throughout 12 areas of Uzbekistan.
In the course of the negotiations, ECA expressed its intention to broaden its consumer base and improve and diversify its merchandise to spice up Kazakhstani exports to the Uzbek market. The numerous potential for growing commerce finance between the 2 international locations beneath ECA’s insurance coverage protection was additionally highlighted.
As a part of the conferences, a memorandum of cooperation was signed with InfinBank. In line with Sergey Kuklin, this doc will assist develop commerce initiatives and stimulate demand for Kazakhstani items and providers.
“We see growing demand for domestic goods in the Uzbek market, which consequently drives export growth. The figures confirm this trend, with Uzbekistan ranking as the leading country in ECA’s export contract portfolio for the second consecutive year. Last year, thanks to our financial instruments, the volume of supported exports to Uzbekistan increased by 25%. We intend to expand cooperation with international banks, particularly in trade finance. Today’s memorandum with InfinBank will enable us to develop practical mechanisms for joint action,” he stated.
In 2024, ECA’s whole insurance coverage obligations for export operations to Uzbekistan amounted to 98.4 billion tenge. Assist was supplied for the export of confectionery merchandise, cattle meat, glass bottles, constructing supplies, flour, metal billets, corn starch, and extra.
Dushanbe, Tajikistan
The ultimate vacation spot of the journey was Tajikistan, the place the delegation held scheduled conferences with representatives of Amonatbank, Oriyonbank, Sanoatsodirotbank, Dushanbe Metropolis Financial institution, Freedom Financial institution Tajikistan, Tavhidbank, and ICB. Separate conferences had been additionally organized with potential importers, together with Talco (Tajik Aluminium Firm) and Capital A Group.
Tajikistan’s monetary establishments are specializing in digitalization, significantly in streamlining the appliance overview course of. On this regard, the ECA delegation shared its expertise with newly applied initiatives designed to reinforce comfort for exporters. One such initiative is the web platform ‘Exporter’s Private Account’, a totally digitalized enterprise course of protecting the whole lot from software submission to contract signing. This complete strategy considerably accelerates software processing, improves effectivity, and minimizes time prices for exporters.
As a part of the conferences with Freedom Financial institution Tajikistan and ICB, two extra memorandums had been signed to determine a strategic partnership in insurance coverage and commerce financing for Kazakhstani exports to Tajikistan.
“The agreements signed today will enable Kazakhstani exporters to increase their sales without additional risks,” stated S. Kuklin.
ECA additionally emphasised its individualized strategy to every accomplice, contemplating the area’s particular wants for numerous services and products.
Following the conferences, the events agreed to share finest practices in gentle of world modifications and work collectively to create favorable circumstances for commerce and funding growth within the area.
Notably, in 2024, 60.4% of the export contracts supported by ECA concerned Central Asian international locations, together with Kyrgyzstan, Tajikistan, and Uzbekistan.
