ECA and KAZCHEMISTRY Signed a Memorandum of Cooperation
Export Credit Agency of Kazakhstan JSC and "Association of Chemical Industry "KAZCHEMISTRY" ALE signed a memorandum of understanding and cooperation.
The partnership aims to expand state support measures for domestic manufacturers and strengthen their positions in international markets. The main goal of the agreement is to create an effective ecosystem for the Kazakhstani chemical industry, ranging from pre-export financing and contract insurance to risk mitigation when entering new foreign platforms.
Key areas of cooperation:
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Implementation of ECA's financial and insurance products, which will enable domestic manufacturers to attract more cost-effective working capital financing.
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Mitigation of risks for Kazakhstani enterprises when dealing with foreign counterparties through export insurance.
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Joint analysis of target markets and prompt elimination of barriers to promoting domestic goods.
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Organizing educational events, workshops, and consultations to improve the export readiness of local companies.
"The chemical industry is a high-value-added sector, the development of which is critical for the diversification of our economy. Today, with the support of the ECA, domestic companies export their products worldwide — from Central Asia to European and North American countries. These are highly competitive markets, and the steady demand within them confirms the maturity of the Kazakhstani industry. For its part, the ECA provides continuous support to enterprises in the sector, granting them access to a comprehensive line of financial and insurance instruments," noted Madina Yerzhanova, Deputy Chairperson of the Management Board of the ECA.
In turn, the "KAZCHEMISTRY" Association emphasized that the synergy between the real sector's expertise and the ECA's support tools will help transform the industry's potential into actual export contracts and new jobs within the country.
Today, the ECA's portfolio already includes a number of landmark projects in the chemical industry. Among them are leading manufacturers of mineral fertilizers, plastics, paints and varnishes, and household chemicals: Kazazot JSC, NDFZ LLP, Talas Investment Company LLP, PK Aurora LLP, Tikkurila LLP, TK Aromika LLP, and others.
Reference: "Association of Chemical Industry KAZCHEMISTRY" ALE is a non-profit organization that unites more than 40 enterprises in the chemical industry and its related sectors.
