The Export Credit Agency of Kazakhstan is opening new markets for the "Rakhat" confectionery factory.
In Almaty, at the initiative of JSC "Export Credit Agency of Kazakhstan" (a subsidiary of JSC "NUH Baiterek"), a press tour was held at the Almaty confectionery factory — JSC "LOTTE Rakhat", the largest confectionery producer in Kazakhstan.
During the tour, participants had the opportunity to get a closer look at the production process while visiting the factory facilities where popular Kazakh chocolate, various types of caramel, and chocolate candies destined for export are produced.
Kamil Mirrakhimov, Export Development Director of JSC "LOTTE Rakhat", noted that the company currently exports its products to more than 10 countries around the world.
The export geography is quite extensive: from Central Asian countries, Mongolia, and the Russian Federation to distant markets such as the United States. Russia remains our main foreign trade partner, while the total number of regular international clients exceeds 40. For example, there is traditionally high demand for caramel in Russia, whereas in Uzbekistan, chocolate candies are noticeably more preferred, he noted.
According to him, the company exports all 14 product categories manufactured at the facility, totaling more than 300 items. For each international market, customized product offerings are developed, taking into account the national taste preferences of consumers. Kazakh chocolate has gained the greatest popularity abroad and consistently enjoys strong demand in key markets such as the United States, Canada, and Germany.
Kamil Mirrakhimov emphasized the significant role of the Export Credit Agency of Kazakhstan (ECA, the Agency) in the development of the company’s export activities. Rahat has been cooperating with the Agency since 2014, and today, nearly all major export contracts are implemented with its support. For example, this year a major export contract was signed thanks to the ECA. The partnership is mutually beneficial: foreign partners not only distribute products of the Kazakh manufacturer in their markets but also present their own goods in Kazakhstan. At the same time, the ECA enables foreign partners to work safely with LOTTE Rakhat products by providing export credit insurance and support.
One of the key tools that enhances the attractiveness of cooperation is the ability to offer deferred payment terms to foreign clients. These terms are coordinated with the Export Credit Agency of Kazakhstan (ECA) within established limits, allowing the company to respond flexibly to market demands and increase supply volumes. The company is successfully expanding exports to Russia and Uzbekistan and is also focusing on the promising yet complex Chinese market. Despite the specific challenges of doing business in China, the confectionery factory continues to increase shipments in this direction, viewing it as a priority for long-term growth.
As part of the current internal business case, export deliveries now account for more than 20% of total sales. This indicates the steady development of the export segment, which the company's management considers one of its key and strategically important directions. In the context of expanding export operations, the company has already signed a contract with Moldova and is in the final stages of negotiations with Canada. In the near future, the company plans to enter the markets of the United Arab Emirates and the Middle East, where ECA’s support is considered essential.
"Export is a vital and promising vector of growth for us. We are not resting on our laurels and continue to actively develop this direction," said Kamil Mirrakhimov. "The company aims to stay ahead of the growing demand for its products both in domestic and international markets. At present, we are installing two new production lines for manufacturing wafer products. Technological modernization is an integral part of our strategy. We are actively implementing advanced technologies: the factory already operates a high-tech bar production line, as well as modern equipment for producing marmalade."
The enterprise remains one of the largest employers in Almaty, with over 2,500 people working at the factory. It ensures stable employment, official wage payments, and regular tax contributions. The company ranks among the top 300 largest enterprises in Kazakhstan and is listed among the top ten non-resource-based taxpayers in Almaty.
Continuing the discussion on the country’s export potential, Almas Kalkayev, Director of the Almaty Representative Office of the Export Credit Agency of Kazakhstan (ECA), spoke about the key areas of the organization’s activities. ECA is the national institution for the development and promotion of non-resource exports. The Agency insures risks related to foreign economic activity of domestic exporters and helps improve financial conditions for deals between Kazakhstani producers and their foreign partners. Since 2016, ECA has provided support to local exporters totaling over 1.6 trillion tenge. More than 250 domestic companies have benefited from the Agency’s services. In 2024 alone, the volume of support provided to exporters exceeded 337 billion tenge — the best result in the Agency’s history. The total economic effect is estimated at 2.5 trillion tenge, including export revenue, volume of products manufactured, and tax contributions.
To expand the volume of export insurance in 2024, the Export Credit Agency of Kazakhstan (ECA) received a state guarantee in the amount of 129.2 billion tenge for a period of 10 years. This enables the Agency to assume insurance and guarantee obligations totaling over 650 billion tenge.
As summarized by Almas Kalkayev, within the framework of cooperation with JSC "LOTTE Rakhat," which has been ongoing since 2014, the Agency insures the risk of non-payment by foreign counterparties and provides access to preferential trade financing. This allows exporters to offer installment payment terms to foreign buyers, thereby stimulating demand and expanding the geography of deliveries. In the current year alone, ECA has already provided more than 7 billion tenge in support to the confectionery factory.
The Agency's support tools include payment deferral insurance, preliminary screening of foreign counterparties, legal support, and assessment of partners’ financial stability. Our assistance primarily consists in assuming financial and insurance risks arising from export activities. This significantly expands the opportunities available to exporters and broadens their pool of potential international buyers. Without such support, a manufacturer would be forced to focus on a limited number of clients. Our support allows exporters to offer deferred payment terms to buyers, which greatly increases the number of potential customers, improves working capital, helps avoid accounts receivable, mitigates currency risks, and enables advance payments. ECA’s products are developed in accordance with the best global practices in export credit insurance and are fully tailored to meet the needs of our clients, summarized Mr. A. Kalkayev.
It is worth noting that ECA has recently launched the "Exporter’s Personal Account", an online platform designed to streamline the submission of digital applications and the negotiation of contract terms. This fully digitized business process — from initial login to contract signing — significantly accelerates application processing, enhances communication efficiency, and minimizes the time exporters spend on administrative procedures.The platform operates on a one-stop-shop principle and is integrated with the Bgov business support portal and the Baiterek Holding’s contact center. It also enables exporters to interact online with a dedicated account manager from the Agency.
