In brief: in 2024 the export insurance company KazakhExport was designated as the export credit agency and renamed Export Credit Agency of Kazakhstan JSC. The organisation supports non-resource exports through insurance, guarantees and other instruments.
Contents
  1. New status
  2. Support instruments
  3. Who it is for
  4. Preparing an application
  5. Exporter's risks

Current name and status

By Resolution of the Government of the Republic of Kazakhstan No. 261 of 8 April 2024, KazakhExport Export Insurance Company JSC was designated as the export credit agency and renamed Export Credit Agency of Kazakhstan JSC. The former name KazakhExport is therefore appropriate to use in a historical context and for brand recognition.

Current applications, contracts and official correspondence should be prepared using the Agency's current legal name and details.

Important: export support instruments differ from ordinary retail insurance. The terms are determined by the programme, the parameters of the export transaction, the buyer's country and the results of the risk assessment.

Export support instruments

  • protection against the risk of non-payment by a foreign buyer;
  • insurance of export credits and loans;
  • guarantees for export operations;
  • support for financing of the exporter or the foreign buyer;
  • protection of Kazakhstani investments abroad against political risks;
  • instruments for participation in international tenders.

The specific product is selected to fit the structure of the transaction. What matters are the payment terms, the length of the credit period, the counterparty's financial condition, the country of delivery, the currency, the security and the allocation of obligations among the parties.

Who can benefit from the support

The instruments are intended primarily for Kazakhstani producers and suppliers of non-resource goods, works and services entering foreign markets. Support may also involve banks that finance exporters and foreign buyers of Kazakhstani products.

How to prepare an application

  1. describe the goods, work or service and confirm its Kazakhstani origin;
  2. prepare the export contract or a draft agreement;
  3. identify the foreign buyer and the payment terms;
  4. provide financial statements and information on outstanding debt;
  5. disclose details of the security and bank financing;
  6. clarify the country, currency and logistics risks.

Which risks are analysed

When a transaction is reviewed, the buyer's commercial risk, political and country circumstances, payment terms, the quality of documents and the possibility of recovering the debt are assessed. The decision is made individually; the existence of an export contract does not guarantee that support will be granted automatically.

Frequently asked questions

Are KazakhExport and the Export Credit Agency of Kazakhstan the same organisation?

Yes, this is one organisation that has been transformed and renamed. In new documents the current official name should be used.

Can an individual insure ordinary personal property?

The Agency focuses on supporting export operations and is not an ordinary retail insurer for household risks.

This material is for information purposes only. Please confirm current products and requirements with the Export Credit Agency of Kazakhstan.