Export Credit Agency of Kazakhstan explores new avenues for cooperation with Germany
Export Credit Agency of Kazakhstan participated in the 42nd meeting of the Berlin Eurasian Club, focusing on boosting exports and enhancing trade and economic ties with Germany.
In her speech, Madina Erzhanova, Deputy Chairperson of Export Credit Agency of Kazakhstan, highlighted the unique opportunities for collaboration between Kazakhstan and Germany. She noted that Germany's leadership in advanced industries, combined with Kazakhstan's strategic initiatives to become a leading export hub for non-resource sectors in Central Asia, creates a strong foundation for mutually beneficial projects. These initiatives pave the way for innovative partnerships that promise benefits for both countries. On behalf of her company, Madina Erzhanova expressed readiness to support joint German-Kazakh export-oriented production to enter new export destinations.
During the event, Export Credit Agency of Kazakhstan signed a Memorandum of Cooperation with AKA Ausfuhrkredit-Gesellschaft mbH.
The memorandum aims to boost Kazakhstan's exports to Germany and the EU while facilitating the import of advanced German technologies and equipment to foster local, export-oriented production. This collaboration will utilize export credit agencies and financial instruments like export lending and trade financing.
The agreement outlines cooperation in implementing export transactions through Kazakhstani banks, financial development institutions, and direct financing for local companies.
"Our partnership with AKA will enhance mutual trade and unlock economic potential. Domestic manufacturers supported by German capital will gain access to pre-export financing tools, deferred payment insurance, and trade finance. These measures ensure uninterrupted production and reduce contractual risks. Additionally, we will provide guarantees to German companies and financial institutions involved in joint ventures with Kazakhstani exporters,” stated Madina Erzhanova.
Background information
Established in 1952, AKA Ausfuhrkredit-Gesellschaft mbH comprises 17 leading German banks and specializes in international trade financing. As of December 31, 2023, the bank manages assets of €4 billion and boasts extensive experience working with global export credit agencies and financial institutions, adhering to OECD standards.
