KazakhExport opens its office in Uzbekistan
Tashkent, Uzbekistan (UzDaily.com) – An opening of the KazakhExport representative’s office was held on the eve of the Central Asian Economic Forum.
At the presentation of the office to the business community of Uzbekistan, Ruslan Iskakov, Chairman of the Board of KazakhExport ESC JSC, noted new opportunities for the dynamic growth of mutual trade between Kazakhstan and Uzbekistan.
“We intend to expand the presence of Kazakhstan non-commodity products in the Uzbek market. Opening an office in Tashkent will provide financial and insurance support to Kazakhstani exporters and will help increase the volume of export earnings by enterprises,” Ruslan Iskakov said.
With KazakhExport insurance support, Kazakhstan exporters supply the Uzbek market with food, meat and confectionery products, building materials, etc. The demand for Kazakh products leads to the expansion of the network of Uzbekistan’s partner banks.
KazakhExport, together with Kazakhstani banks, is considering projects to insure letters of credit issued by Uzbek banks, which will allow Kazakhstani exporters to receive payment immediately after shipment of goods, and Uzbek buyers to receive financing for the purchase of Kazakhstani products.
For example, in 2018, the Kazakhstani exporter Zharkent Starch Factory LLP, with the support of Asia Alliance Bank, established export shipments of corn starch and syrup to Uzbekistan. From the beginning of this year, a letter of credit issued by Qishloqqurilishbank in favor of Polymer Production for the supply of polymer products was insured.