BAKU, Azerbaijan, April 25. The memorandum concluded between Kazakhstan's Export insurance company KazakhExport and State Savings Bank of Tajikistan Amonatbank in August 2022 has contributed to creating favorable conditions for cooperation between the two countries, Director of Information and Communications Department at KazakhExport Aygul Kassenova told Trend.
“The agreement reached with Amonatbank, envisaged better conditions in terms of overall insurance limits and trade financing for importers who deal with non-raw materials from Kazakh manufacturers,” Kassenova said.
According to her, these measures have helped attract direct investments into Tajik economy, increase trade volume, provide access to the local market for existing and new Kazakh exporters, and minimize risks associated with export operations.
Furthermore, the cooperation agreement between Amonatbank and KazakhExport has allowed increasing the amount of trade financing for the bank up to $15.2 million.
“With the support of KazakhExport, Amonatbank has opened credit lines for Tajik companies to replenish current and non-current funds for the purchase of building bars and metal products used for the construction of residential and commercial buildings, cars for taxis in Dushanbe, as well as vegetable oil for industrial and domestic consumption,” the director said.
She noted, that overall, there is a positive trend in the growth of demand and collaboration with Amonatbank. For example, the volume of insurance and trade finance within the cooperation with the bank increased by 38 percent in 2022 compared to 2021.
KazakhExport and Amonatbank signed a memorandum to increase an additional financing in August 2022. The main purpose of signing the memorandum was to attract direct investment in the economy of Tajikistan and increase the volume of trade between Tajikistan and Kazakhstan.