"Rahat" Expands Export Volumes with the Support of the Export Credit Agency of Kazakhstan
Kazakh Sweets and Signature Chocolate Now Available in Europe and the U.S. Kazakhstan’s largest confectionery producer, JSC "LOTTE Rakhat", is actively expanding its export operations, entering new markets and launching innovative products abroad — all thanks to its strategic cooperation with the Export Credit Agency of Kazakhstan (ECA), reports a correspondent from NUR.KZ.
During a press tour to the Rakhat factory, organized by the Export Credit Agency of Kazakhstan (a subsidiary of JSC "NUH Baiterek"), journalists were given a firsthand look at the company’s production scale and export potential.
Since the company began its international expansion, "Rakhat" has established itself as a reliable supplier and has significantly increased the volume of its exported products. Today, the company successfully delivers its goods to over 10 countries, including Russia, the United States, Germany, China, Uzbekistan, Tajikistan, Kyrgyzstan, and others.
Since 2014, "Rakhat" has been cooperating with the Export Credit Agency of Kazakhstan, which helps mitigate financial risks for Kazakhstan’s non-resource exporters and their foreign buyers. The agency also helps optimize financing conditions, facilitating smoother and more secure international trade transactions.
According to Kamil Mirrakhimov, Director of Export Development at JSC "LOTTE Rakhat", the company is one of the leading producers and sellers of confectionery in Kazakhstan, offering over 400 different products. Each international market requires an individual approach, as consumer taste preferences vary significantly from country to country. For instance, caramel is especially popular in Russia, while chocolate candies are favored in Uzbekistan. The company’s signature "Kazakh" chocolate has been well-received across the globe.
However, "Rakhat" is not resting on its laurels and continues to actively expand its exports with the support of the Export Credit Agency of Kazakhstan (ECA). This year alone, the agency has provided over 7 billion tenge in support to the confectionery factory. The assistance includes risk insurance, enabling the company to secure financing for working capital, which is crucial for executing its export projects.
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"Export is a vital and promising direction for us. Currently, export products account for more than 20% of our total sales. In addition to the countries we are already supplying, we have signed an agreement with partners from Moldova, are in the final stages of signing with Canada, and are also planning to enter the markets of the UAE and the Middle East."
Since 2014, we have been successfully working with all major export clients through the Export Credit Agency. This year, we signed a large agreement with ECA, as it supports not only our development but also that of our partners. Thanks to ECA, our partners not only receive our products but also gain access to financing for them through us.
"We are currently working with the Agency under a program that allows us to offer deferred payment terms to our partners, while our risks are protected. The amounts are approved by the Agency, which enables us to operate within these limits. This gives our clients the opportunity to expand their purchasing range and, consequently, grow their sales," said Kamil Mirrakhimov, Export Development Director of JSC LOTTE Rakhat.
It is worth noting that the Rakhat factory not only contributes to the development of Kazakhstan’s export potential but also actively creates jobs — currently, more than 2,500 people are employed at the enterprise. Moreover, the company ranks among the top ten largest taxpayers in Almaty, making substantial annual contributions to the national budget, which supports economic growth and the development of social infrastructure.
Rakhat is also expanding its production capacity and product range. For example, the company recently opened a branch in Shymkent, equipped with modern production lines for waffles, bars, and marmalade.
As noted by Almas Kalkaev, Director of the Almaty branch of the Export Credit Agency, a total of 10 counterparties of JSC "LOTTE Rakhat" are currently insured.
“As part of the total approved limits, the company can expect to receive preferential financing at an interest rate of approximately 12%, which will allow it to offer its products with deferred payment without facing cash flow disruptions. This will significantly enhance the company's competitiveness in foreign markets,” noted Almas Kalkaev.
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According to him, Kazakhstani manufacturers entering export markets may face risks due to demands from potential partners for deferred payment terms. However, the Export Credit Agency (ECA) conducts due diligence on prospective counterparties in advance and insures the suppliers’ risks.
"With each passing year, Kazakhstan's production of finished goods continues to grow. We provide maximum support for this development, enabling companies to increase both the volume and geography of their exports," the speaker concluded.
It is worth noting that last year the volume of support provided to Kazakhstani exporters reached a record 337.4 billion tenge, while the total economic impact amounted to 2.5 trillion tenge. In 2024, KazakhExport supported 96 exporters, 15 of whom became new clients of the agency.
To receive support in developing exports, Kazakhstani entrepreneurs can submit a digital application and negotiate contract terms through the Exporter's Personal Account on the online platform.
The platform operates as a one-stop service and is integrated with the Bgov Business Support Portal and the "Baiterek" Holding's contact center. Through their personal account, exporters can communicate online with their assigned manager from the Agency. To get in touch with KazakhExport, exporters can use the Exporter's Personal Account at: online.kazakhexport.kz.
