Agreement on the Eurasian reinsurance company to be signed in the first half of 2022
MOSCOW, Oct. 5 (BelTA) – Plans are in place to sign an agreement to establish the Eurasian Reinsurance Company in the Eurasian Economic Union in the first half of 2022, said Eurasian Economic Commission official Iya Malkina during a press briefing. in Moscow on October 5, BelTA learned.
“Currently, the commission is forming a working group that will work out an international agreement to create the Eurasian Reinsurance Company. The agreement is expected to be signed in the first half of 2022,” Iya Malkina said.
According to her, the EEC’s board of directors reported on the execution of one of the points of the Eurasian economic integration strategy until 2025, which provides for the alignment of national measures of financial support to the ‘export of goods produced in common and during the implementation of joint projects in the markets of third countries. The commission, together with EAEU member states and the Eurasian Development Bank, has done the necessary work on this, said Iya Malkina. “First, the Eurasian Development Bank’s export financial support program has been approved and implemented. Its objective is to provide financial support to companies to produce goods and services and to promote their sale in other Member States or third countries.
The EDB program is expected to help increase the volume of export loans in order to maintain mutual trade. The program will run until 2026 with the possibility of an extension for the next five years.
“Work has also been carried out to analyze export insurance practices. The Intergovernmental Council supported the project to create the Eurasian Reinsurance Company, an insurance aid institute for mutual and foreign trade in the EAEU ”, recalled Iya Malkina.