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Resolution of the Council of Ministers

from 01.12.2011

№ 1624

Eximgarant of Belarus to insure Venezuelan exports of MAZ, MTZ

The Belarusian export and import insurance company Eximgarant of Belarus will insure export risks of Minsk Automobile Plant and Minsk Tractor Works for deliveries to Venezuela. The decision is laid down by Belarus’ Council of Ministers resolution No. 1624 of 1 December 2011.

The Belarusian company has been authorized to sign contracts for the voluntary insurance of short, medium and long-term export contracts against political or commercial risks.

Minsk Automobile Plant signed an export contract with the Venezuelan company Corporacion de Industrias Intermedias de Venezuela, S.A. (Corpivensa) on 11 November 2011. Minsk Tractor Works signed an export contract with the same company on 11 November. On 9 August Minsk Tractor Works signed a contract with the Venezuelan company CVA Compania de Mecanizado Agricola y Transporte Pedro Camejo, S.A. All the three contracts will be insured.

The government’s authorization was necessary because the responsibility sum will exceed 5% of the own capital of Eximgarant of Belarus.

Eximgarant of Belarus has been operating since 2001. It provides insurance of export contracts of Belarusian exporters and insurance of export loans issued to exporters or non-resident buyers of Belarusian products. The company is a member of the International Union of Credit and Investment Insurers.​

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