The Eurasian Reinsurance Company is another business support tool. The Prime Minister of Russia Mikhail Mishustin said at a meeting of the Eurasian Intergovernmental Council in an expanded format.
According to him, in today’s conditions, entrepreneurs of the countries of the Eurasian Economic Union (EAEU) need special attention. The decision to zero import customs duties allowed them to save significant resources and use them for development, to ensure uninterrupted import of goods that are important for the EAEU market.
«There will be the Eurasian Reinsurance Company. An agreement on its establishment was adopted. The organization will support foreign and domestic trade, stimulate the development of investment cooperation, provide export loans and interaction with credit agencies and insurers. There are plans to issue own securities and finance projects. The company is open for new international partners,» Mikhail Mishustin told.
Akylbek Japarov, head of the Kyrgyzstan’s Cabinet of Ministers, noted that creation of the company with the status of an international financial organization is also aimed at implementation of joint cooperation projects and investments of the Eurasian Economic Union.
«Given the existing restrictions on access to reinsurance capacities of traditional insurance markets, the Eurasian Reinsurance Company is a very timely development institution. It will not only increase trade volumes, but will also assist national export credit agencies, insurers and reinsurers in building analytical and institutional capacity, complementing their functionality, including developing reinsurance mechanisms in national currencies,» he concluded.
