Russian and Belorussian export credit agencies to increase cooperation
The Russian Agency for Export Credit and Investment Insurance (EXIAR) has signed a General Agreement of Cooperation and Collaboration with Eximgarant, the Belorussian republican unitary enterprise for import-export insurance. The document was signed by CEO of EXIAR Peter Fradkov and Director General of Eximgarant Gennady Mitskevich, in the presence of Prime Minister of the Russian Federation Dmitry Medvedev and Prime Minister of the Republic of Belarus Mikhail Myasnikovich.
Under the agreement, the parties will increase and strengthen cooperation in providing joint insurance support for exports.
In addition, the two organisations plan to conduct joint consideration of export contract projects, share experience of insurance, reinsurance and settling claims, and also consult each other on issues relating to the specificities of Russian and Belorussian legislation.
Staff training, seminars, round-table discussions, and workshops on issues related to the work of EXIAR and Eximgarant will also be organised.
Peter Fradkov, CEO of EXIAR:
"The implementation of this Agreement between EXIAR and Eximgarant will further boost the development of mutual trade between the two countries, and will also promote the development of joint Russian-Belorussian projects in third countries. I have no doubt that over the coming months, we, together with our Belorussian colleagues, will draw up special insurance support programmes for exporters in our countries."
Gennady Mitskevich, Director General of Eximgarant:
"This agreement will help to reduce the level of risk when implementing international trade contracts, boost exports, and increase investment in Belarus. Exchanging experience will enrich our export agencies, and help us to work for the benefit of our countries' economies."
Eximgarant, the Belorussian republican unitary enterprise for import-export insurance, was founded in May 2001. The company's strategic mission is to establish and ensure an efficient national insurance system for foreign trading and export contracts. The company was founded by the Council of Ministers of the Republic of Belarus. Since 2002, Eximgarant has been a full member of the Prague Club, which operates under the auspices of the Berne Union (the International Union of Credit & Investment Insurers). The company's charter capital is RUB 537.5 billion.
The Russian Agency for Export Credit and Investment Insurance (EXIAR) was established in October 2011. 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. EXIAR’s sole shareholder is Vnesheconombank. The Agency’s charter capital is RUB 30 billion (approx. USD 1 billion).
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