Kazakhstan export company expanding presence in Uzbekistan

Business Materials 14 March 2019 17:33 (UTC +04:00)

Baku, Azerbaijan, March 14

By Fakhri Vakilov - Trend:

The export insurance company KazakhExport has expanded its presence in Uzbekistan, Trend reports via Kazakh media.

The opening of a foreign representative office of KazakhExport in Tashkent was held on the eve of the Central Asian Economic Forum.

The main activity of the company's foreign office is the financial and insurance support of Kazakhstan exporters. Thus, today, with the support of KazakhExport, exporters from Kazakhstan supply the Uzbek market with food, meat, confectionery and building materials and other products.

“We have a lot of existing customers who are already exporting their goods to Uzbekistan. In addition, there are established contacts with local banks. At the same time, we use tools that allow providing financing to Uzbek companies when purchasing goods from Kazakhstan. We used to cooperate with only one Uzbek bank, and today three banks are already working with us. Regarding Kazakh companies that work with Uzbekistan, our portfolio includes firms from different industries - food, chemical industry, metallurgy and engineering,” chairman of the board of KazakhExport, Ruslan Iskakov said.

He stated that the opening of a subsidiary of the National Bank of Kazakhstan in Uzbekistan - Tenge Bank this year, will also have a positive impact on the activities of KazakhExport in Uzbekistan.

Following the opening of the foreign office of KazakhExport, a cooperation agreement was signed between JSC KazakhExport and JSC Aloka Bank, as well as JSC Qishlok Kurylysh Bank. Moreover, it worth noting that JSC “KazakhExport” is a part of the structure of JSC “Baiterek”.

The main mission of KazakhExport is to support the growth of exports of non-commodities, works and services in priority sectors of the economy and the formation of the practice of financial, insurance and non-financial support for Kazakhstan enterprises.


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