When discussing economic diversification, the focus is often placed on new factories, manufacturing facilities, and investment projects. However, entering foreign markets involves much more than production alone. Equally important are export financing, risk insurance, and reliable settlement mechanisms with international partners. New measures in these areas are expected to expand the opportunities available to domestic enterprises in global markets.
In recent years, Kazakhstan has placed particular emphasis on increasing non-resource exports. Achieving this objective requires not only financing production but also strengthening insurance and guarantee mechanisms for exporters. According to the Government, the Board of Directors of Baiterek National Managing Holding has approved the attraction of an additional KZT 250 billion under a state guarantee for the Export Credit Agency of Kazakhstan. The guarantee is provided for a period of ten years. This decision will significantly expand the Agency’s insurance and guarantee capacity.
As a result, the Agency’s total insurance and guarantee obligations are expected to reach KZT 1.2 trillion this year. This figure reflects a new level of support for domestic exporters.
According to representatives of the Export Credit Agency of Kazakhstan, the organization’s financial capacity has strengthened considerably over the past six months. During this period, its authorized capital increased by KZT 70 billion, while the volume of state guarantees grew by an additional KZT 200 billion. Consequently, the Agency’s insurance and guarantee capacity reached KZT 950 billion. The additional KZT 250 billion allocated this year is expected to increase this figure to KZT 1.2 trillion. But what specific opportunities will this create for exporters?
The key issue is that while many enterprises are ready to export their products, high levels of risk often prevent them from entering foreign markets. In some cases, concerns arise regarding the creditworthiness of buyers. In others, financing export contracts becomes challenging. This is where the instruments offered by the Export Credit Agency help reduce business risks and facilitate access to international markets.
Today, the Agency provides exporters with loan and accounts receivable insurance, export transaction guarantees, as well as pre-export and export trade financing.
Export trade financing is becoming particularly important. This instrument allows foreign buyers to access financing on favorable terms, thereby enhancing the competitiveness of Kazakh products in international markets.
At present, this mechanism is actively used in neighboring markets such as Uzbekistan, Kyrgyzstan, and Tajikistan. As a result, it contributes to expanding the geographical reach of Kazakhstan’s exports.
The Export Credit Agency of Kazakhstan places special emphasis on manufacturing industries and producers of high value-added products. The majority of its support is directed toward the agro-industrial sector, food processing, metallurgy, mechanical engineering, and the chemical industry.
Importantly, this support is not limited to large enterprises. More than half of the projects in the Agency’s portfolio belong to small and medium-sized businesses. This enables regional companies to gain access to foreign markets as well.
Companies benefiting from the Agency’s support include Prima Kus, Shin-Line, Maslo-Del, RG Brands Kazakhstan, Qarmet, and other major manufacturing enterprises. According to Allen Shaizhunusov, Chairman of the Management Board of the Export Credit Agency of Kazakhstan, the expansion of the Agency’s financial capacity will significantly increase the scale of export support.
“Additional capitalization will enable us to address strategic objectives related to economic diversification and the expansion of non-resource exports. Market demand for our instruments remains high. During the first five months of this year alone, 54 enterprises received support from the Agency. The total volume of support provided amounted to KZT 308.8 billion, already exceeding last year’s figure. By the end of the year, the Agency’s insurance and guarantee capacity will increase to KZT 1.2 trillion. This financial reserve will allow us to fully meet the growing demand from exporters and strengthen the position of Kazakh products in international markets,” said Mr. Shaizhunusov.
The Agency’s achievements are not limited to financial growth. In recent years, its international standing has also strengthened considerably. A clear example was the Spring Meeting of the Berne Union, held in Astana in May this year. Following the event, the Export Credit Agency of Kazakhstan was admitted to the Berne Union’s Short-Term Insurance Committee.
This is more than a symbolic achievement. Membership in the Committee provides the Agency with direct access to leading global insurance organizations, broader reinsurance opportunities, and the ability to effectively apply international best practices.
According to experts, it is important for Kazakhstan not only to increase export volumes but also to transform the structure of its exports. The greater the share of non-resource products in total exports, the more resilient the national economy becomes. Achieving this goal requires the creation of a favorable financial environment that enables domestic producers to confidently enter foreign markets.
Therefore, the decision to increase the Export Credit Agency’s insurance and guarantee capacity to KZT 1.2 trillion should not be viewed merely as a financial indicator. It is part of a broader, systematic policy aimed at helping domestic producers enter new markets, strengthening the manufacturing sector, and diversifying the country’s exports. This step is expected to enhance the international competitiveness of Kazakh enterprises and lay the foundation for sustainable, high-quality economic growth.
Source: egemen.kz
