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Introduction

The activity of the The Russian Agency for Export Credit and Investment Insurance (hereinafter “EXIAR JSC”, “EXIAR”, or “the Agency”) is aimed at supporting the export of Russian non-resource goods, works and services to foreign markets. According to the results of the past reporting year, the volume of insurance support and the number of exporters that have used the insurance services provided by EXIAR JSC demonstrate the upward trend.

Russian Export Center JSC (hereinafter the “REC Group”, the “Group”) that had been successfully established as the Group in 2017, set the vector for the further development of the Agency. As a result of integration, there was established a unified system for financial export support that had combined insurance and credit solutions for customers, which allowed to improve the internal business processes, the quality of services provided within the Group and the level of customer satisfaction.

EXIAR as part of the REC Group contributes a lot to the development of the system for national export promotion by opening up new opportunities for Russian business. The Agency pays great attention to the involvement of new participants in the export process along with the support of the established exporters.

EXIAR actively cooperates with foreign partners, including export credit agencies, commercial insurers and international organizations both in a bilateral format and within the framework of international associations. The accumulated experience allows the Agency to provide Russian exporters with the most comfortable and efficient environment for business development and also to integrate the world’s best practices into its business processes.

In May 2018, the President of the Russian Federation set a goal to double the volume of non-resource exports (hereinafter the “NRE”) of the Russian Federation by 2024. The key objectives of EXIAR within the REC Group are to increase the volume of insurance and the number of supported exporters, expand the geography of export supplies and diverse support provided to Russian enterprises, including SMEs.