Amsterdam, 8 April 2013 – Atradius Dutch State Business – the Dutch Export Credit Agency – and Exiar – its Russian counterpart – have signed a Memorandum of Understanding (MOU) focused on increasing support to Dutch and Russian companies that jointly conclude export transactions or infrastructure projects in third countries. The MOU was signed in the presence of Russian President Putin and Dutch Prime Minister Rutte.
The Netherlands and Russia are important trading partners. In 2012, Dutch exports to Russia totalled around 7 billion Euros, whereas Russian export to the Netherlands amounted to 17 billion Euros. 14% of the merchandise going through the ports of Rotterdam has Russia as its country of origin or destination.
Recently Atradius Dutch State Business, acting on behalf of the Dutch Government, covered current or planned Dutch export transactions to Russia for around half a billion Euros, mainly for capital goods. Important sectors of cooperation are oil and gas, machinery and agriculture.
In a globalising economy both Dutch and Russian companies increasingly work together. Through the cooperation between Atradius Dutch State Business and Exiar, suppliers from both countries can more easily work together to win contracts in other countries. In addition, joint ventures between partners from the Netherlands and Russia can now also be insured against payment risks.
More opportunities for Dutch and Russian exporters
“An increasing number of Dutch companies are cooperating with Russian partners, perhaps also owing to the Winter Olympics that will be held in Russia in 2014”, says Johan Schrijver, Managing Director of Atradius Dutch State Business. “In addition to the existing cover facilities that we are already providing for export to Russia, this cooperation with Exiar will offer a new range of opportunities for Dutch exporters. Many companies have an international focus and we are more than willing to support them.”
“We are very happy to extend our international network to Atradius, which we see as an important partner for the further development of Exiar,” says Petr Fradkov, CEO of Exiar. “The export potential of Russia is huge, also in high-tech industries, where our support could give a further boost to export.”
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The Atradius Group provides trade credit insurance, surety and collections services worldwide. With a presence through 160 offices in 45 countries, it has a market share of approximately 31% of the global trade credit insurance market. Atradius has access to credit information on 100 million companies worldwide. Its products help protect companies throughout the world from payment risks associated with selling products and services on credit.
OJSC Russian Agency for Export Credit and Investment Insurance (EXIAR) is the Export Credit Agency of the Russian Federation. Moscow-based EXIAR was founded in October 2011, as a subsidiary of Vnesheconombank, to protect the foreign accounts receivable of Russian exporters against commercial and political risks and foreign investments of Russian companies against political risks. The Agency’s charter capital is 30 billion rubles.
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