Cooperation agreement between Belarusian and Latvian export credit insurance agencies signed

The national unitary export-import insurance company Eximgarant of Belarus and the Latvian agency Latvijas Garantiju agentura (LGA) have signed a cooperation agreement.

Eximgarant of Belarus is one of the major national insurance companies, with 100% of its shares being owned by the state. Eximgarant has been given exclusive rights to provide insurance against export risks on behalf of the Republic of Belarus. The company joined the Prague Club of the International Union of Credit and Investment Insurers in 2002.

Latvijas Garantiju agentura was set up in 1998. The agency supports Latvian entrepreneurs in order to help realize their business ideas. It attracts new investments by giving credit and export guarantees and allocating mezzanine loans.

The agreement stipulates the development of cooperation between the sides with the aim of expanding mutual trade between the countries. It also provides for personnel training, joint seminars, round-table sessions and trainings on the matters pertaining to the activities of the LGA and Eximgarant of Belarus. The document was signed at the 9th session of the Belarusian-Latvian inter-governmental commission for economic and R&D cooperation in Riga. During the session the sides exchanged information on trade and economic cooperation between Belarus and Latvia, the development of the Single Economic Space and cooperation in the field of entrepreneurship and industry.