The KazakhExport has signed a number of strategic agreements with the largest financial institutions in Tajikistan | Press releases | Export insurance company «KazakhExport»

Press releases

The KazakhExport has signed a number of strategic agreements with the largest financial institutions in Tajikistan

A number of agreements with the largest backbone banks of Tajikistan were signed during the visit of Aslan Kaligazin, a Chairman of the Mangement Board of the KazakhExport National Export Insurance Company, to Dushanbe. Bilateral documents are aimed at developing cooperation and stimulating the development of Kazakhstan's non-commodity exports.

During the visit, cooperation memorandums were signed with the Amonatbank State Bank of Tajikistan and the Orienbank OJSC on increasing the total limits in the field of insurance and trade finance for the importers purchasing non-primary products of Kazakh manufacturers. This will expand the access of Kazakh entrepreneurs to the Tajik market and minimize export risks.

In particular, within the framework of cooperation with the Amonatbank State Savings Bank of the Republic of Tajikistan the total limit was increased from 7,600,000 US dollars to 15,200,000 US dollars, the Orienbank OJSC - from 8,000,000 US dollars to 11,100,000 US dollars with a maximum insurance cover up to 2 years. Concessional financing will be allocated to Tajik entrepreneurs importing goods from Kazakhstan.

The agreements also provide for separate sublimits for insuring letters of credit within the framework of transactions between Tajik importers and Kazakh exporters: the Evraz Caspian Steel LLP for the supply of building reinforcement, the SaryarkaAvtoProm LLP for the supply of steel products and the JAC cars, the QAZAQ-ASTYQ GROUP LLP and the Yasrib LLP for the supply of unrefined vegetable oil, as well as the Kentau Transformer Plant JSC for the supply of components for transformers.

 In addition, a Memorandum of Cooperation was signed with the Sanoatsodirotbank State Unitary Enterprise Industrial and Export Bank of Tajikistan. By agreement, the Companies confirmed their readiness to assist in the development of trade finance and documentary operations of the Bank.

During a trip to the city of Khorog, A. Kaligazin took part in the International Forum Pamir Invest 2022, within which a wide range of issues of the Kazakh-Tajik strategic partnership was discussed, and the Company's opportunities to stimulate growth and develop trade turnover between the countries were presented.

Kaligazin stressed the importance of the signed agreements, which became possible as a result of a visit to the capital of Tajikistan.

“The agreements reached with the banks of Tajikistan open access for existing and new Kazakh exporters to the local market. The support tools we offer together with Tajik partners will create favorable conditions for cooperation with Kazakh exporters and minimize the risks of Kazakh entrepreneurs entering the Tajik market,” A. Kaligazin said.

It should be noted that over the past six years, the KazakhExport has provided more than 21 billion tenge in support of Kazakh exporters as part of exports to Tajikistan. For 7 months of 2022 - more than 1.8 billion tenge. In total, since 2016, the KazakhExport has supported Kazakh business for 603 billion tenge. Among the key cases in the direction of Tajikistan is the financing of the supply of helicopters and domestically assembled cars, food products and the metallurgical industry.

The Office of the KazakhExport Foreign Representative in Tajikistan has been operating in Dushanbe since 2019. The office enables importers to work directly with exporters of Kazakhstan, increasing their trade turnover using financial instruments of the KazakhExport.