On 19 February 2018, the Russian Agency for Export Credit and Investment Insurance (EXIAR – a part of the Russian Export Center Group), together with Nippon Export and Investment Insurance (NEXI) held a joint seminar for the representatives of Japanese companies developing business in Russia.
The event was devoted to the new developments in insurance solutions jointly provided by both export agencies to support Japanese enterprises with localization of production in Russia, as well as to the other means of export support provided by the Russian Export Center Group.
More than 50 representatives of Japanese banks and companies from financial services, machinery and electronics sectors attended the event. During the seminar, the participants exchanged information on the potential projects and available support to facilitate export operations of Japanese companies from Russia. Mr. Masafumi Nakada, President of NEXI, and Mrs. Anna Belyaeva, Managing Director of International Business Development of EXIAR, delivered welcoming remarks. Speaking to participants, they expressed their hope for a broadening of trade and economic cooperation between Russian and Japanese businesses.
The Russian Agency for Export Credit and Investment Insurance (EXIAR) was established in 2011. EXIAR’s main mission is to promote Russian exports abroad by insuring export credits against commercial and political risks as well as investments against political risks. The sole shareholder of EXIAR is the Russian Export Center (REC). The State Specialized Russian Export-Import Bank (Eximbank of Russia) is a subsidiary of EXIAR.
Created in 2001, Nippon Export and Investment Insurance (NEXI) is a state-owned Japanese insurance corporation that provides trade and investments insurance services and efficiently conducts insurance business of covering risks which arise in foreign transactions and which are not covered by commercial insurance.
Since 2013, when EXIAR and NEXI signed a bilateral memorandum on cooperation, both agencies have been building mutually beneficial relationships, including the first reinsurance agreement that was signed in 2017 to support export business of a Russian subsidiary of a major Japanese automobile manufacturer.