The Russian Agency for Export Credit and Investment Insurance (EXIAR), a part of the Russian Export Center Group, provided over $8 billion in support to exporters in 2016, including $600 million to exporters to Belarus, head of EXIAR Office in Belarus Viktor Doronkevich said in a meeting with the delegates of Tomsk region and Russia’s trade representative in Belarus Konstantin Artyushin.
Viktor Doronkevich spoke about the new possibilities of financial support for exports to various countries, including to Belarus.
“EXIAR export support program is based on the best international practices, and its results show that the volume of export supported by EXIAR grows annually. In 2015, we supported the export to the tune of $6.6 billion. In 2016, the amount of support is already more than $8 billion. Of this sum, more than $600 million has been allocated to support deliveries to Belarus”, Viktor Doronkevich said.
“Not only do we cover the risks of exporters and assume the risk of non-payment by foreign buyers. We also offer tied financing for your partners – customers. This instrument is in demand on the Belarusian market. This integrated offer enables companies to be more successful during the pre-contract phase and in formulating the conditions for participation in tenders. The instrument is quite popular in Belarus”, Viktor Doronkevich informed.
EXIAR also provides insurance coverage to Russian companies overseas and the projects to supply commodities (excluding oil, gas and coal).
“There are no restrictions on the minimum amount. We can insure any contract and can offer tied financing even on the minimum amount. This helps implement a program of support for small and medium-sized enterprises which EXIAR promotes in collaboration with Sberbank and other banks in Russia”, Viktor Doronkevich noted.
EXIAR provides risk coverage on short-term and long-term transactions. EXIAR’s insurance obligations are guaranteed by the government of the Russian Federation. EXIAR’s product range includes proposals for banks, exporters and buyers. In particular, banks are offered such products as buyer credit insurance, confirmed letter of credit insurance, working capital financing insurance, export factoring insurance. Products for exporters include supplier credit insurance, comprehensive insurance of export credits, leasing and investment insurance. Products for buyers include buyer credit insurance, confirmed letter of credit insurance and export factoring insurance.
The main industries that EXIAR supports include: power engineering and electronics, rail transport and infrastructure, metallurgy, fertilizers, agriculture, chemical manufacturing and related sectors, and others.
“In Belarus, the agency has established strong direct contacts with many manufacturers in various industries, including BMZ, MAZ, BelAZ, Atlant and Gomselmash. We also work with all Belarusian banks”, Viktor Doronkevich noted.
“Russia is the biggest trading partner of Belarus. Providing assistance in developing trade and economic cooperation in all formats and clusters is the primary objective for the trade office”, Konstantin Artyushin said. The state support of exports consists of two parts, he said. These are the organizational support by the trade office and the financial support for transactions involving the supply of Russian goods.
“Here, we have a unique situation: the office in Belarus is the only foreign mission of EXIAR. This office has business contacts, experience and achievements in supporting specific transactions”, the Russian trade representative in Belarus said.
Deputy Governor of Tomsk region Andrei Knorr spoke about key aspects of social and economic development of the region. In the structure of the regional gross product, the minerals sector (hydrocarbons) accounts for the largest share. It is followed by manufacturing, transport and communications, trade, agriculture, and construction. The knowledge-intensive production sector has been growing in recent years. So has the economic contribution of science and education.
“We are interested in Belarus’ experience and technologies, in particular in agriculture and forestry, agro- and ecotourism”, the head of the Tomsk region delegation said.
The trade office of the Russian Federation aims to advance business relations, establish direct contacts with Belarusian organizations and economic entities, and promote the use of modern insurance and financial tools to support exports which EXIAR offers in Belarus through its representative office. These efforts are aimed at facilitating the conclusion of direct contracts between the two countries, expanding the scope of cooperation, and increasing the number of joint integration projects. (BelTA/Business World Magazine)
