Under Insurance Protection: How Kazakhstan is Building the Infrastructure for Non-Commodity Exports
Exactly one year has passed since KazakhExport was transformed into the Export Credit Agency of Kazakhstan (ECA). This was not merely a change of name, but the creation of the first classical export agency in Central Asia that meets international standards, reports Zakon.kz.
After a year, it is safe to say that the bet on institutionalizing export has paid off.
From Insurance to Strategic Support
The key change was the expansion of functions: from traditional export risk insurance to a multi-level model supporting export contracts. Today, the ECA provides guarantees, insurance, pre-export and export-trade financing, consulting services, verification of foreign counterparties, and assistance in finding sales markets.
“We are not just a financial institution but a pillar for Kazakhstan’s non-commodity exports. The Export Credit Agency of Kazakhstan has established a comprehensive support system, where exporters do not face risks or uncertainties alone in new markets,” emphasizes Madina Erzhanova, Deputy Chairperson of the ECA Board.
The 2024 performance indicators confirm this statement:
-
Record profit of 8.8 billion tenge
-
Exporter support volume exceeds 335 billion tenge
-
Growth in pre-export and trade financing volumes up to 30.2 billion tenge
-
Reinsurance increased by 2.5 times
-
Support provided for 468 contracts
-
96 exporters supported, including 15 newcomers
.jpg)
What is Exported?
The greatest demand for ECA services came from enterprises in the food industry, metallurgy, and agriculture. The portfolio also includes engineering products, construction materials, and products from the chemical, glass, pharmaceutical, and perfumery industries.
“Support is not abstract assistance but concrete projects. We helped modernize the Shin-Line ice cream factory, financed the second phase of the PrimaKus poultry complex, and provided insurance support for contracts of the Lotte Rahat confectionery factory,” says Madina Erzhanova.
Product Range: The Full Deal Cycle
Today, the ECA’s portfolio includes over 20 products covering the entire export transaction cycle — from preparation to fulfillment of obligations.
Among the most in-demand instruments are:
-
Insurance of contracts with deferred payments
-
Insurance of letters of credit and loans
-
Pre-export financing
-
Guarantees for participation in international tenders
“We observe growing interest in accounts receivable insurance and tools related to export financing. Businesses need risks to be manageable and transparent,” adds Madina Erzhanova.
Foreign Guarantees for Service Exports
Last year, the ECA introduced five new guarantee products, and in the current year successfully implemented two cases allowing Kazakh companies to export services and products within tenders in Uzbekistan.
For example, Bank CenterCredit JSC received the first guarantee for obligations of ZTOWN Development LLP, while Caspian Contractors Trust LLP gained support for construction work in Uzbekistan.
“ECA guarantees signal to foreign partners that Kazakhstan’s side has a serious financial guarantor, enhancing competitiveness,” stresses Madina Erzhanova.
Regional Focus and Digital Reality
The ECA aims not only to maintain traditional export markets but also to open new ones. Trade activity with Afghanistan is intensifying, there is significant potential in trade with China, and EU countries are consumers of Kazakhstan’s environmentally friendly products.
Simultaneously, the Agency promotes digital channels of interaction with exporters. The “Exporter’s Personal Account” (online.kazakhexport.kz) allows users to submit applications, sign contracts, and track their status online.
Next Milestone — 1 Trillion Tenge
ECA’s plans for 2025 include increasing insurance capacity to 1 trillion tenge, which will expand support for exporters to 600 billion tenge.
Additionally, a bundled insurance product for SMEs is being developed with banks to simplify small business exporters’ access to financing and reduce risks.
“We approach the next stage with justified optimism. The institutional foundation is established. Now it is important to ensure scalability,” affirms Madina Erzhanova.
In other words, the Export Credit Agency of Kazakhstan is steadily strengthening its position as a strategic operator in the country’s export economy. Its instruments are becoming not merely a safety net but part of the growth infrastructure for the non-commodity sector, aligning with the economic policy of the “New Kazakhstan.”
The Export Credit Agency of Kazakhstan invites domestic businesses to active cooperation. ECA is always open to dialogue and ready to develop and support local export projects.
