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09.07.2015

EXIAR takes part in the Eastern Economic Forum

On September 4, 2015, the Export Insurance Agency of Russia (EXIAR) sent a delegation to the Eastern Economic Forum (EEF) being held in the Russian city of Vladivostok.

EXIAR CEO Alexey Tyupanov was the key speaker at the session on “Export Support and Access to International Markets”.

Among those discussing the development of Russian non-commodity exports were Andrey Belousov, assistant to the Russian President; Georgy Kalamanov, Russia’s Deputy Minister of Industry and Trade; Peter Fradkov, head of the Russian Export Center; Dmitry Golovanov, chairman of Roseximbank; and more.

During the long period of high oil prices, the words “exports” and “energy resources” were practically synonyms in Russia. However, as market conditions changed, a strong need for developing exports in the broadest sense of the term arose, along with a range of possibilities to do so.

According to Alexey Tyupanov, EXIAR will ramp up its activity in developing systemic initiatives to stimulate exports in its capacity as a key element of the government’s system of supporting exports. It will do so by using both financial tools and nonfinancial measures in close cooperation with other organizations and development organizations.

During EEF, EXIAR also signed an agreement with the Khabarovsk Regional Government on the Joint Promotion of Government Export Support Mechanisms in the region.

CEO Alexey Tyupanov signed on behalf of EXIAR, while Governor Vyacheslav Shport signed on behalf of the Khabarovsk Regional Government.

The parties agreed to jointly promote government export support mechanisms and to create favorable conditions for export development in the Khabarovsk Region. The document also introduces an extensive list of events to work with local businesses. This primarily includes educational seminars in which exporters can learn more about new government export support mechanisms.

“First of all, we are providing guarantees to Russian exporters and insuring them against the risk of nonpayment for goods. Secondly, we are giving them access to inexpensive financing. These tools are rather new and, naturally, not every company knows how to use them effectively. We will work in conjunction with regional authorities to actively support local businesses and promote these mechanisms,” Alexey Tyupanov stated.

Also at the EEF, EXIAR signed an agreement to provide financing and insurance support to Amurzerno, LLC, and an insurance policy with Biotechs-Agro, Ltd.

The agreement calls for EXIAR to provide working capital financing insurance from Rosselkhozbank to Amurzerno, Ltd., for its shipmments of Russian-grown wheat and barley to Japan.

EXIAR signed a supplier credit insurance policy with Biotechs-Agro, Ltd., to insure shipments of organic fertilizers to the Republic of Korea (South Korea). As part of the policy, EXIAR will insure the company against the risk of nonpayment by the orderer.

The Russian Agency for Export Credit and Investment Insurance (EXIAR) was established in 2011 as an open joint-stock company. EXIAR's mission is to support Russian high-tech exports by insuring export credits against commercial and political risks, as well as Russian investments abroad against political risks. Vnesheconombank is the sole shareholder of EXIAR. The agency's authorized capital is RUB 31 billion. The State Specialized Russian Export-Import Bank (Eximbank of Russia) is a subsidiary of EXIAR.