MINSK, 12 October (BelTA) – Export insurance agencies of the member states of the Eurasian Economic Union (EEU) are looking into the opportunities to advance products made in the Eurasian Economic Union (EEU) to third markets, Director General of the insurance agency Eximgarant of Belarus Gennady Mitskevich said during the roundtable session held in BelTA's press center on 12 October to discuss the role of export and credit insurance in the Belarusian economy.
“Within the framework of the Eurasian Economic Union we are developing cooperation to advance the EEU products. We have already considered the ways of using the fledgling export agencies of Armenia and Kazakhstan to create conditions for advancing the EEU product to the markets of third countries. For the time being we are closely cooperating with the Russian Agency for Export Credit and Investment Insurance (EXIAR),” the head of the insurance agency Eximgarant of Belarus said.
The Belarusian economy is closely interconnected with the Russian economy, noted Gennady Mitskevich. “The products we make can be viewed as a joint Belarusian-Russian product. The Russian share in them is huge. This is why we welcomed the setting up of the EXIAR and promptly concluded an agreement on cooperation with the agency. We have no disagreements or obstacles. Our cooperation is aimed at increasing the trade turnover between our countries, helping joint ventures to advance their products to third countries through coinsurance,” he noted.
The EXIAR and the Eximgarant of Belarus have already implemented a lot of projects important for Belarus. For example, the two agencies are currently taking part in the project to construct a plant in the town of Miory to produce tinned steel sheets. This will be an import-substituting and export-oriented manufacturing facility, with over 80% of products bound for export. The total investment exceeds €250 million. “We have reached mutual understanding with the German export credit insurance company Hermes and Russia's EXIAR on the project. A part of the equipment necessary to produce tinned steel sheets is delivered by Germany, another part by Russia. It is a trilateral deal,” Gennady Mitskevich explained.
