Kazakhstan To Create Export Credit Agency
Date
11/9/2023 12:12:03 AM
(MENAFN- AzerNews) The Majilis, the lower chamber of the Kazakh parliament, on
Wednesday passed a bill on amendments to some legislative acts
regarding an export credit agency and exports of non-commodity
goods and services, Azernews reports, citing
Interfax.
"The bill is aimed at creating an export credit agency that will
have the status of a national institution for development and
promotion of non-resource exports," Ruslan Kozhasbayev, a member of
the Majilis Committee on Economic Reforms and Regional Development,
said when presenting the document.
The new agency will be created on the basis of Export Insurance
Company KazakhExport JSC, which is a subsidiary of National
Managing Holding Company Baiterek JSC, the press service of
KazakhExport said.
President Kassym-Jomart Tokayev highlighted in his September
state of the national address the importance of giving priority to
the promotion of exports.
"Although there are some mechanisms in place, there is no
systematic approach to this matter," he said. Therefore, he
proposed the creation of a comprehensive export promotion
institution, which will incorporate all the necessary tools and
engage the resources of KazakhExport company.
Export Insurance Company KazakhExport JSC, a subsidiary of
Kazakhstan's National Managing Holding Company Baiterek, is focused
on support for non-resource exporters using a variety of financial
instruments.
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