The Saryarka AutoProm has acquired exclusive rights to produce JAC cars for the Russian market
On 8 November, as part of the visit of the Head of the State to Kostanay to the Saryarka AutoProm Car Assembly Plant, a trilateral Memorandum of Cooperation was signed between the China National Vehicle Import and Export Company, the Export Insurance Company “KazakhExport” JSC and the Saryarka AutoProm LLP.
The document provides for the supply of vehicle sets to the Saryarka AutoProm Kazakhstan Plant by the Chinese Company referred to as the China National Vehicle Import and Export Company, the right to manufacture and export JAC cars to the Russian Federation by using the KazakhExport’s tools. The target audience of JAC cars is leasing companies, vendor and private taxi companies, as well as wholesale car dealers.
“KazakhExport offered a tool of the state support for exports to the domestic automobile assembly plant Saryarka AutoProm – the export trade financing in Russian rubles. The tool will allow the Kazakhstan automaker to export JAC cars of the own assembly without “cash gap’, and the Russian buyer will be provided with a deferral as a cheap and long financing. Thus, KazakhExport will finance a car delivery to Russia, the exporter will receive payment in time, and the importer will receive a deferred payment”, - explained Ruslan Iskakov, the Chairman of the Management Board of the Export Insurance Company “KazakhExport” JSC.
“Development of the export potential is one of the priority directions of the Company. We can see the interest in our cars from the neighboring markets, for example, this year, with the assistance of KazakhExport, the initial shipment of JAC cars was made to Tajikistan at the total project cost of USD 10,5 mln. We know positively that the growth trend in the exportation of Kazakhstan cars will continue, and as evidenced by the figures, exports to the Republic of Kazakhstan have increased 3,7 times as much against the last year”- said Andrei Lavrentyev, the Chairman of the Board of Directors of the Allure Group of Companies JSC.
Earlier, in May of 2017, a delivery contract was signed between the Holding Asia Group of Tajikistan and the Saryarka AutoProm, under which the Saryarka AutoProm Plant made the initial shipment of cars to Tajikistan in June 2017. Deliveries started with the primary consignment of 55 JAC S3 cars in the amount of USD 577,5 ths. The export delivery was supported by the subsidiary of the Baiterek Holding Company - KazakhExport.
For reference:
The Export Insurance Company “KazakhExport” JSC is a subsidiary of the National Managing Holding Company “Baiterek” JSC. The mission of KazakhExport is to support the growth in exports of non-primary goods, works and services in priority sectors of the economy and to form the practice of financial and insurance and non-financial support of Kazakhstan enterprises. Press Service: +7 727 250 00 21 (inner 134), website www.keg.kz.
The National Managing Holding Company “Baiterek” JSC was established to optimize a system of managing development institutions, financial organizations, and of developing the national economy by the Republic of Kazakhstan President’s Decree. The major mission of the Holding Company is to contribute to the sustainable economic development of Kazakhstan by financing and supporting priority sectors of the economy to implement the state policy, to solve socially-oriented objectives and to achieve the goals set by the “Strategy-2050”.
