Kazakhexport and ICBC Almaty expand cooperation
The KazakhExport National Export Insurance Company and the Commercial and Industrial Bank of China in Almaty (ICBC Almaty) met online with exporters and importers of Kazakh non-commodity products.
The event was arranged with the assistance of the Foreign Representative of the KazakhExport in the People's Republic of China, Sergey Salmanov, together with the Hong Kong Trade Development Council. Manufacturers-exporters of finished products, service companies exporting services, exporters and importers who faced the problem of paying for products, as well as companies planning to conduct payment transactions in Chinese yuan, took part in the video meeting.
During the meeting, the Participants discussed current interaction, current market issues and shared their own cases. Almagul Mazhenova, Director of the KazakhExport Insurance Department, presented the KazakhExport's financial and insurance instruments aimed at reducing risks in import and export operations to the participants. In turn, Deputy Director of the Corporate Finance Department of ICBC Almaty Bakhtiyar Isaev spoke about the bank's instruments.
As a result of the meeting, the ICBC and the KazakhExport expressed their readiness to cooperate on preferential financing, including for Russian importers purchasing Kazakh goods, works and services under a letter of credit form of payment.
It should be noted that the issuance of import letters of credit is carried out by the ICBC Moscow, which guarantees the Kazakh manufacturer to receive payment immediately after shipment, to the Russian importer it gives a deferral of payment for products shipped by the Kazakh supplier and a financing rate in RUB below the market.
At the end of the meeting, the Chairman of the Board of ICBC Almaty Lan Weijie thanked the participants for the meeting and expressed hope for strengthening trade and economic relations between the two countries.
The KazakhExport EIC JSC is a Subsidiary of the Baiterek NMH JSC and a Subordinate Organization of the Ministry of Trade and Integration of the Republic of Kazakhstan. The main task of the Company is to support domestic non-commodity exporters through various financial instruments.
The "Commercial and Industrial Bank of China in Almaty" JSC (hereinafter - ICBC Almaty) was founded in March 1993. For 29 consecutive years, the ICBC Almaty has been rated as one of the most reliable and stable financial institutions in the Republic of Kazakhstan, with a strong liquidity position, high capital capacity, global network and technological advantages.
Contact information of the KazakhExport EIC JSC:
Department of Information and Communications
Aigul Kasenova, Tel: +7 (7172) 95-56-56 ext. 146