Non-resource exports in focus: task force holds extended meeting in Astana

The task force on non-resource exports development recently held an extended meeting in the B2G format in Astana. The event was attended by representatives from business associations, government agencies, national development institutions, and exporters.

The task force participants engaged in discussions on various pressing issues such as VAT refunds, reimbursement of costs for exporting companies, support measures, exploring new markets, and identifying barriers that hinder the export of finished products and services. They also outlined key tasks for the future development of exports.

Representatives from Export Credit Agency of Kazakhstan, a subsidiary of Baiterek Holding, introduced new offerings such as guaranteeing export operations and subsidizing interest rates on trade finance.

The guaranteeing of export operations will enable Kazakhstani exporters to participate in international tenders and expand the presence of Kazakhstani goods and services in high-demand export markets. Guarantees from Export Credit Agency of Kazakhstan will also facilitate receiving advanced payments from importers under export transactions. It will eliminate the need for collateral or bank involvement.

Furthermore, through the subsidizing of trade finance rates, domestic manufacturers of high-tech goods and services can seek assistance from the ECA to finance foreign buyers, thereby elevating Kazakhstan's exports to a new level. This initiative will create favorable conditions for buyers of Kazakhstani goods and services, while also ensuring competitive rates on trade finance in export markets across Europe and Asia.

At the end of the meeting, participants emphasized the importance of creating export hubs to address the challenges of entering new markets.