Astana -2 °С
Almaty 2 °С
Exchange rates
USD 388.07
EUR 427.54
RUB 6.08
CNY 55.36

KazakhExport helps domestic exporters break into Chinese market

17 June 2019 09:20

NUR-SULTAN. KAZINFORM - KazakhExport JSC, Kazakhstan's export insurance company, signed a Memorandum of Cooperation with the Supply cooperation of agricultural products of the city of Xi'an, Kazinform cites the company's press office.

For this purpose, KazakhExport opened a representative office in China, the task of which will be to establish strong business contacts between Kazakhstan and Chinese businessmen.

"KazakhExport representative office will help exporters to orient at the Chinese market - to look for those interested in the import of Kazakh products and provide support in the organization of import financing. Moreover, by the efforts of KazakhExport representative office, exporters will open doors to offices that are often closed when they are self-addressed," Ruslan Iskakov, Chairman of the Board of EIC "KazakhExport" JSC said.

In May 2019, Askar Mamin, the Prime Minister of Kazakhstan, held negotiations with the Member of the Standing Committee of the Politburo of the Communist Party of China, First Vice Premier of the People's Republic of China Han Zheng, during which the sides noted the need to increase the export potential of Kazakhstan products, strengthen the interaction of the two countries in developing transport and logistics competencies, transit corridors, energy, industry, and agro-industrial complex.

According to the Ministry of National Economy of Kazakhstan, in January-December 2018, trade turnover between Kazakhstan and China amounted to $11.7 billion, including exports $6.3 billion.

The matters of strengthening Kazakhstan's export potential to the People's Republic of China are the basis of the Memorandum of Cooperation between EIC KazakhExport JSC with the Supply cooperation of agricultural products of the city of Xi'an. The document reflects the key issues of trade relations development, promotion of exports of goods, works and services produced in the Republic of Kazakhstan, as well as increasing bilateral trade.

Currently, foreign representative offices of KazakhExport are opened in Kazan (Tatarstan, Russia), Dushanbe (Tajikistan) and Tashkent (Uzbekistan). In accordance with the development Strategy of KazakhExport, until the end of 2019, it is planned to open networks of offices in the border regions of Russia, as well as in the countries of Central Asia.

The mission of KazakhExport Export Insurance Company JSC (a member of Baiterek NMH JSC) is to support the growth of exports of non-commodity goods, works, and services in priority sectors of the economy and to develop the practice of financial insurance and non-financial support for Kazakhstan's enterprises.

Keywords: Economy,