World export finance leaders discuss long-term development strategies on the second day of the Berne Union Spring Meeting in Astana
In the capital of Kazakhstan, the Spring Meeting of the Berne Union (the International Union of Credit and Investment Insurers) continues. The second day of discussions is focused on medium- and long-term insurance (MLT), as well as the activities of the Prague Club — a committee uniting new and developing export credit agencies (ECAs).
The significance of this year’s meeting is further enhanced by the role of the host country. The Export Credit Agency of Kazakhstan, part of the national management holding Baiterek National Managing Holding, is acting not only as the organizer of the event, but also as a co-chair within the structures of the Berne Union.
This reflects the high level of trust placed by the international community in Kazakhstan’s financial institutions and recognition of their expertise in risk management along the Great Silk Road corridor.
A key event of the day within the MLT Committee was the panel discussion “A Strategic Pivot for Central Asia?”. Participants discussed how geopolitical changes are transforming the region into a critically important hub connecting China, the EU, and neighboring markets.
The main speaker representing the host side was Zhandos Shaikhy, Deputy Chairman of the Management Board of Baiterek Holding. During the discussion with representatives of Asian Infrastructure Investment Bank and European Bank for Reconstruction and Development, he emphasized Kazakhstan’s role in strengthening regional connectivity and attracting investment into infrastructure projects and the extraction of critical minerals.
“Today, Central Asia is becoming an increasingly important region for global trade, energy and food security, as well as international logistics. Kazakhstan views this period not merely as a geopolitical moment, but as an opportunity for large-scale economic transformation. We see both the country and the region as a future manufacturing and infrastructure hub between Europe and Asia,” noted Zhandos Shaikhy.
As part of the forum’s business agenda, Saken Olzhabayev, Managing Director of Baiterek Holding, participated in a discussion on the transformation of global trade flows and new approaches to risk management in international trade. Special attention was given to the growing role of Central Asia and the Trans-Caspian International Transport Route, as well as the transition of export credit agencies from the traditional “country risk” model toward a more comprehensive assessment of logistics, sanctions, and transaction risks. Participants also discussed the increasing interest of international investors in Kazakhstan as a platform for developing new industries, logistics, and non-resource exports.
Key highlights of the MLT (Medium- and Long-Term Insurance) section included:
• Sector focus: Mining industry. Experts discussed the role of political risk insurance (PRI) in the extraction of rare earth metals.
• Islamic finance: A separate session focused on the use of Sukuk and Islamic banking in export finance, featuring Madina Tukulova, Head of Islamic Finance at the Astana International Financial Centre.
• Artificial intelligence: Delegates explored the integration of AI into MLT workflows to optimize the assessment of complex transactions.
At the same time, the Prague Club Committee meeting took place, moderated by Ayan Bektybayeva, Vice-Chair of the PCC and Deputy Chairwoman of the Management Board of the Export Credit Agency of Kazakhstan. The committee sessions focused on mechanisms to support small and medium-sized businesses, as well as the implementation of digital technologies. Delegates noted that ECAs are becoming “smarter,” introducing more than 70 innovations annually, including AI-based tools (LLMs) to accelerate underwriting processes.
Particular attention was drawn to the session “Local Exporters and the Ecosystem of the Export Credit Agency of Kazakhstan,” where leading representatives of Kazakhstani business presented real growth success stories:
• Kairat Mazhibayev (Chairman of the Board of Directors of RG Brands);
• Dmitry Dokin (Chairman of the Board of Directors of Shin-Line);
• Sayat Shortan (Commercial Director of the Grain Consortium of Kazakhstan).
The speakers discussed how the Export Credit Agency of Kazakhstan helps emerging companies enter new markets and manage on-the-ground risks, as well as the role of state institutions in creating a digital ecosystem for exporters.
“As co-chairs of the Berne Union and the host side, we see that the export credit industry is at a turning point of transformation. Our task is not only to insure risks, but to create an intelligent ecosystem for supporting exporters. The exchange of experience within the Prague Club enables us to adapt the world’s best practices more rapidly in order to stimulate Kazakhstan’s non-resource exports,” noted Ayan Bektybayeva, Deputy Chairwoman of the Management Board of the Export Credit Agency of Kazakhstan.
At the same time, the Export Credit Agency of Kazakhstan is a candidate for membership in the Short-Term Insurance Committee, which is regarded as a transition to a fundamentally new level of international integration and recognition of Kazakhstan’s ECA as a full-fledged participant in the global expert community.
A separate segment of the agenda was dedicated to the activities of Development Bank of Kazakhstan. During the forum, the bank signed a Memorandum with K-SURE, the Korea Trade Insurance Corporation. The document предусматривает the launch of an on-lending program aimed at attracting financing for projects in Kazakhstan related to Korean technologies and investments. Priority areas of cooperation include logistics, energy, manufacturing, and green technologies.
Marat Yelibayev, Chairman of the Management Board of the Development Bank of Kazakhstan, spoke at the MLT Committee session, where he discussed political risk insurance mechanisms in the mining sector and the Bank’s role in attracting private investment into infrastructure and processing projects.
During the first days of the forum, strategic agreements were concluded between the Export Credit Agency of Kazakhstan and leading international financial institutions — Türk Eximbank, Saudi EXIM Bank, BAEZ, and ASHRA. In addition, a plenary session and a series of bilateral B2B meetings were held. The forum will continue on March 13–14 with meetings of профильных committees and the Prague Club.
Reference:
The Export Credit Agency of Kazakhstan is a national development institution specializing in the support and promotion of non-resource exports. The company is part of the structure of Baiterek National Managing Holding and is a full member of the Prague Club of the Berne Union.
The Berne Union is the leading international non-profit association uniting the world’s largest export credit and investment insurers. Founded in 1934 in Bern, the organization is currently headquartered in London. Its mission is to promote the development of global trade, implement international standards in export credit financing, and provide a platform for intergovernmental exchange of expertise and information.
