Memorandum of Cooperation signed between Export Credit Agency of Kazakhstan and CESCE
Chairman of the Board of the Export Credit Agency of Kazakhstan JSC Allen Chaizhunussov took part in the Kazakhstan-Spain Business Council in Madrid as a member of Baiterek National Management Holding JSC delegation.
The participants of the event representing government agencies and large companies of the two countries discussed new opportunities for the development of bilateral economic relations in various sectors, including processing and consumer industry, machine building, metallurgy and agro-industrial complexes.
At the meeting, the Council participants discussed potential joint projects, exchanged experience and opinions, and identified particular steps to intensify mutually beneficial cooperation by attracting investment and building export potential.
As part of the event, the head of the Export Credit Agency of Kazakhstan held a number of B2B meetings with representatives of major Spanish companies such as Inditex, Pikolinos, Parque Tecnológico de Valdemingómez, Loramendi, Pescanova, Pascual Calidad, Bombas Ideal, Nektium Pharma and others. Allen Chaizhunusov emphasized the willingness of Kazakhstan Export Credit Agency to provide comprehensive support to local counterparties when importing Kazakhstani goods and services using advanced tools and individual approach.
As a result of the Council, a Memorandum of Understanding was signed between the Export Credit Agency of Kazakhstan JSC and the state-owned Spanish company for export credit insurance - CESCE. The agreement is aimed at expanding bilateral cooperation in supporting exporters in joint projects which will provide effective risk management in export operations. The parties agreed to develop and stimulate trade between Kazakhstan and Spain by sharing experience, analytical data on markets and sectors, underwriting practices and cooperating in the field of export finance and guarantees.
“The purpose of today's memorandum is to create a solid basis for fruitful cooperation between our countries in the field of export credit insurance. We focus the attention of our partners on Kazakhstan's efforts to create favorable conditions for the implementation of export-oriented projects”, Mr. Chaizhunussov emphasized.
The agreement between the national development institutions of the two countries will not only promote the traditional support of exports, but also create alternative supply chains for key imports which will provide industrial enterprises with the required resources. Joint development, production and export of consumer industry products from Kazakhstan will enable the country to strengthen its competitiveness in the world market of finished products and potentially distribute Kazakhstani technologies globally.
