TEHRAN – The Export Guarantee Fund of Iran (EGFI) has signed an agreement with the Russian Export Credit and Investment Insurance Agency (EXIAR) to facilitate exports and provide guarantees necessary for the development of trade between the two countries.
The agreement was signed by EGFI Director Reza Alikhani and EXIAR General Manager Nikita Gusakov on the sidelines of the Crocus exhibition in Moscow on Thursday, the Iranian Trade Promotion Organization portal reported. trade (TPO).
The signing ceremony took place in the presence of the head of the TPO, Alireza Peyman-Pak, and the general director of the Russian export center, Veronika Nikishina.
According to Peyman-Pak, the agreement is signed with the aim of helping traders from both countries use export insurance as an alternative to Letters of Credit (LC) and reduce trade risk between the two countries.
“All Iranian businessmen, during their cooperation with Russian businessmen and companies, can introduce their business partner to EGFI, so that this fund can validate and create an insurance credit limit for the Russian party and take the necessary steps regarding the issuance of insurance for the Iranian parties,” the TPO chief said.
He further noted that now Iranian traders can easily export their goods to Russia using this insurance policy and benefit from the services provided by the Iran Export Guarantee Fund.
“In addition, Russian businessmen and companies exporting products to Iran can introduce their Iranian business partners to EGFI and the fund will issue guarantees for them through EXIAR,” he added.
Highlighting that the agreement has no credit limit and that signatories can issue guarantees up to $1 billion, Peyman-Pak said: “This achievement was achieved in accordance with the efforts of the Promotion Organization Trade and Export Guarantee Fund of Iran to facilitate trade between the two countries of Iran and Russia.
Pictured: EGFI chief Reza Alikhani (left) and EXIAR director general Nikita Gusakov sign agreement documents in Moscow on Thursday.