EXPORT INSURANCE AND EXPORT GUARANTEE

It is reported on the website of egfi.org on November 30, 2014 that:

Within the visit of Alexey Ulyukaev, Minister of Economic Development of the Russian Federation, to Islamic Republic of Iran, with the invitation of Mohammad Reza Nematzadeh, Minister of Industry, Mine and Trade of I.R. of Iran, Export Insurance Agency of Russia (EXIAR) and Export Guarantee Fund of Iran (EGFI) entered into a Framework Agreement aimed at developing trade and investment between Russia and Iran. The timing of this signing follows several high level agreements between the two countries.

 According to the Agreement, EXIAR and EGFI will utilize their strengths to facilitate provision of financing to their national companies, active in respective countries, and cover joint transactions in third countries, which will internationally promote products and services of Russia and Iran. The Parties are also creating a common approach as to a risk-sharing mechanism that may facilitate the support of trade flows in respective countries.

This important Agreement will also strengthen EXIAR and EGFI cooperation on operational levelExport Insurance and Export Guarantee, 17th Bi-Weekly N & A (December 7, 2014) to exchange information and collaborate in credit assessment, claims handling further to collection and recovery efforts.

 In this News & Analysis report we will look into the following four issues:

1) What are the functions and roles of the EGFI?

2) Comparatively speaking, what are the roles and functions of the EXIAR?

3) What are the issues covered by the agreement signed between the EGFI and the EXIAR?

4) What are the bearings of this agreement on the export trade of Iran, as far as Russia and other CIS countries are concerned?