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EXIAR and NEXI sign the Framework Agreement for support of Russian subsidiaries of Japanese companies

The Russian Agency for Export Credit and Investment Insurance (EXIAR) and Japanese state export credit agency Nippon Export and Investment Insurance (NEXI) have signed the Framework Agreement for support of Russian subsidiaries of Japanese companies.

The signing took place within the framework of the official visit of Russian President Vladimir Putin to Japan.

EXIAR was represented by Chairman of the Board Petr Fradkov, while NEXI was represented by Chairman and CEO Kazuhiko Bando.

The Agreement is a result of the mutual interest expressed by EXIAR and NEXI to set up an effective platform for joint support of Russian subsidiaries of Japanese companies that export goods and services from Russia to third countries.

Both Parties emphasize that the Agreement does not represent a mere intention but gives the necessary capacity and establishes a mechanism to fuel and push forward existing projects.

In their activities, EXIAR and NEXI have developed a solid ground for fruitful cooperation in supporting export activities of Russia and Japan based on the Memorandum of Cooperation concluded in April 2013. By now, the scope of cooperation between EXIAR and NEXI includes but is not limited to extensive experience exchange practices in the field of export credit insurance.

The present Agreement is a logical step towards the improvement of collaborative practices and reinforcement of the established strategic partnership. It will allow the both Parties to benefit from a standardized approach to reinsurance in certain projects and make cooperation in this very field more efficient and focused.

“NEXI is a huge player in the export insurance market. That is why the signing of today’s framework agreement holds such strategic importance for us. Our work together will not only provide synergy to the development of Russian non-commodity exports, it will also help both countries’ insurance agencies to share their experience to develop more efficient approaches to our work and raise the level of expertise in the field of exports.” – Petr Fradkov.

The head of Russian Export Center Petr Fradkov arrived to Japan as part of the official Russian delegation during President Putin’s visit to Japan. In the course of the visit, Mr. Fradkov took part in the Russian-Japanese summit talks and in the business forum plenary session entitled “New approaches to development economic cooperation”.