Kazakhstan Interested in Joint Development of Industrial Cooperation with Tajikistan
Memorandum of Cooperation signed in Dushanbe
On 18 March, EIC KazakhЕxport JSC, Tajik Aluminium Company OJSC (TALCO OJSC) and Eurasian Development Bank signed a Memorandum of Cooperation within the 16th session of the Intergovernmental Kazakh-Tajik Commission for Economic Cooperation in Dushanbe.
The document provides for industrial cooperation, including it is planned to boost exports of calcined petroleum coke, mortar powder and electrothermal ferrophosphorus from Kazakhstan to Tajikistan to cover TALCO needs using financial and insurance instruments of EIC KazakhЕxport JSC.
As reported, in May 2019 EIC KazakhExport JSC launched its office of foreign representative in Tajikistan. Its goal is to establish contacts with business community, inform businessmen and financial authorities about tools of the company, provide assistance to exporters to overcome different barriers with a view to boost trade turnover between the two countries.
Major projects include arrangement of financing for export of Н125 Airbus Helicopters by Eurocopter Kazakhstan Engineering LLP to Somon Air LLC. Within this project, EIC KazakhЕxport JSC has provided the company with export trade financing jointly with a major partner bank Orienbank OJSC. Amount of obligations undertaken within that transaction exceeded 870 million KZT.
Moreover, major projects were implemented for delivery of rolled metal products to Tajikistan for construction of Rogun hydroelectric power station, buses and cars assembled in Kazakhstan.
Overall, since 2017 EIC KazakhExport JSC has undertaken insurance obligations to support export contracts of local enterprises in industrial industry of Kazakhstan to Tajikistan for a total amount of 7.3 billion KZT.
Supported enterprises include exporters of Kazakhstan’s fat and oil products, confectionery, paint materials, car, reinforcing bars, oil coke, mineral fertilizers, refractory products.
Reference:
Export Insurance Company KazakhExport JSC (a part of NMH Baiterek JSC) is a subordinate enterprise to the Ministry of Trade and Integration of the Republic of Kazakhstan for promotion of export of non-raw goods and services. Mission of Export Insurance Company KazakhExport JSC is to support growing export of non-raw goods, works, services in priority economic sectors and form a practice of financial and insurance and non-financial support for Kazakhstan’s enterprises.
EIC KazakhЕxport JSC is ready to provide Eurasian Development Bank with insurance coverage of up to $15 million under TALCO’s loan to replenish its current assets for procurement of products from Kazakhstan’s producers.
Tajik Aluminium Company Open Joint Stock Company, a successor of Tajik Aluminium Plant (TadAZ), it is one of major global producer of high quality aluminum. Mission of the company is to promote economic development, well-being and social stability in Tajikistan, build up production potential of aluminium sector of Tajikistan, integration into the global economy.
