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Fourth BRICS Heads of ECAs Meeting

July 24th, 2018, the fourth Meeting of Heads of Export Credit Agencies of BRICS (BRICS ECAs) was held in South Africa, Johannesburg. As usual, the meeting took place as part of events series organized under the Chairmanship of South Africa in BRICS Forum and was hosted by ECIC SA, Export Credit Insurance Corporation of South Africa.

The meeting was attended by five heads of ECAs (Export Credit Agencies) of BRICS countries: Mr. Guilherme Rodrigues, CEO of Brazilian Guarantees Agency (ABGF), Mr. Alexey Tyupanov, Chairman of the Management Board & CEO of Russian Export Center Group (EXIAR), Ms. Geetha Muralidhar, Chairman Cum Managing Director of Indian ECGC Limited, Mr. Wang Yi, Chairman of China Export & Credit Insurance Corporation (Sinosure) and Mr. Kutoane, CEO of the host Export Credit Insurance Corporation of South Africa Ltd (ECIC).

The meeting reaffirmed the four pillars for cooperation among BRICS ECAs being the deepening of partnerships, creating a favorable external environment, actualizing cooperation and crafting a shared vision of the future. BRICS ECAs have committed to enhancing the confidence, working together, strengthening their cooperation and achieving visible win-win result.

After the welcoming speech of Mr. Kutoane Kutoane, CEO of ECIC SA, the parties shared the results of year 2017 and discussed the recent trends in export financing. The focus of the morning session was Africa and promotion of exports to African countries. ECIC SA emphasized the opportunities of BRICS ECAs to cooperate with the African export-import bank (Afreximbank), to which all the BRICS countries are shareholders, and suggested to use the tools and network ties of the ECIC when doing business in Africa. Following that, the South African ECA also presented its vision on the economic and political development of the region, as well as introduced the trade and investment opportunities for joint projects with African partners.

In the afternoon, Mr. Alexey Tyupanov, EXIAR CEO, made a presentation with the proposal to improve the quality and usability of interaction within the BRICS ECAs Forum by means of using one collaboration platform to discuss opportunities for joint projects and coordinate positions on relevant issues regarding export credits in between the BRICS ECAs meetings.

"In the current environment we have to be innovative and we have to work together on the daily basis. The tasks we have on our plate need an exact and coordinated approach, which is why we propose to introduce one content collaboration platform so that we could develop a joint stand and promote the interests of the BRICS ECAs and countries in the international arena", -Alexey Tyupanov EXIAR CEO

 Mrs. Geetha Muralidhar, ECGC CEO, gave an outlook on the current state of discussions on a new set of international guidelines on export credits. After that, Mr. Wang Yi, Chairman of Sinosure, provided a brief upd ate of the discussions with the New Development Bank on possible cooperation with the BRICS ECAs.

The cooperation guidelines se t during the 4th BRICS Heads of ECAs Meeting will be elaborated in the course of the Technical Workshop to be held this Autumn. The next BRICS Heads of ECAs Meeting will be hosted by ABGH and take place in 2019 under the Chairmanship of Brazil.