KazakhExport and Turk Eximbank Share Expertise to Strengthen Export Potential
A delegation from KazakhExport EIC JSC visited Turk Eximbank, a prominent global export credit agency, to share insights and best practices.
Throughout the visit, several meetings and seminars were conducted, covering various facets of export support, such as:
- Streamlining business processes through automation
- Ensuring compliance with transaction procedures
- Managing risks associated with export transactions
- Understanding international counter-guarantees
- Exploring different types of export credit guarantees and their issuance
- Facilitating financing for foreign buyers
- Financing projects backed by sovereign guarantees
- Providing both short-term and long-term export loans
- Handling insurance cases and compensation matters
Representatives from Turk Eximbank elaborated on support mechanisms for exporters, including investment insurance and guaranteeing export transactions.
Both parties acknowledged the significance of this exchange for fostering further cooperation and enhancing the insurance support system. They also emphasized the importance of developing trade and economic relations between their respective countries. As a result, the participants agreed to formalize their collaboration through a Memorandum.
It's noteworthy that KazakhExport, as the primary institution promoting non-resource exports, actively seeks partnerships with major foreign export credit agencies.
Furthermore, KazakhExport is in the process of transforming into an Export Credit Agency, following the signing of corresponding legislation by President Tokayev. Under this law, the Export Credit Agency will serve as the primary entity supporting non-resource exports. This transformation will extend its support to domestic enterprises, encompassing export operations and providing service support for sales markets and the needs of other countries for goods and services.
Reference:
Turk Eximbank is Turkey's export credit agency, offering export support services, including export credit and investment insurance, guarantees, financing, consulting, and information support.
