OREANDA-NEWS. On June 26, 2008 Tsesnabank JSC (Astana) and State Insurance Corporation on export loans and investments insurance JSC (Almaty) disseminated joint press release of the following content, reported the press-centre of KASE:

State Insurance Corporation on export loans and investments insurance JSC and Tsesnabank JSC signed memorandum on mutual partnership.

Expanding of volumes, nomenclatures and geography of Kazakhstan goods, services and investments export is an acute objective for enterprises of acute economic sector.

State Insurance Corporation on export loans and investments insurance JSC and Tsesnabank JSC realizing the principle of state and private partnership with the aims to support Kazakhstan exporters, signed memorandum on mutual partnership.

This document is for creating effective mechanism of parts` collaboration while conducting joint projects on financing and insurance of export contracts of Kazakhstan commodity producers of non primary sector of economic.

Further practical partnership will be realized within the frames of General agreement on documentary letter of credit and export contracts insurance, which are financed by Tsesnabank JSC for its clients.

"The main objective of this partnership is Tsesnabank JSC and its clients` risks decreasing while conducting export deals and providing safe protection, advancing interests of Tsesnabank`s corporate clients while exporting their products on foreign commodity and capital markets" - Dauren Zhaksybek, the chairman of Board of Tsesnabank JSC marked.

Partnership with State Insurance Corporation will allow Tsesnabank JSC to expand the range of service in one of priority direction of trade financing - exporters` financing.