Insured exports from Armenia could exceed 4-4.5 billion drams
28.06.2017,
16:01
The volume of insured exports from Armenia could exceed 4-4.5 billion drams, the executive director of Export Insurance Agency Vazgen Abgaryan told journalists on Wednesday.
YEREVAN, June 28. /ARKA/. The volume of insured exports from Armenia could exceed 4-4.5 billion drams, the executive director of Export Insurance Agency Vazgen Abgaryan told journalists on Wednesday.
Abgaryan said according to the government program for 2017-2022, approved last week, the number of insured export deals is to be doubled by 2018. Speaking to local reporters, Abgaryan said the volume of insured exports in 2016 amounted to 2.2 billion drams and today they are worth 1.732 billion drams, making 75-80% of the total of last year's portfolio. He also added that in the first six months of 2016, the volume of insured exports was 334.4 million drams.
According to him, since the beginning of the year, 40 companies have submitted applications for the use of the Agency's services, while in 2016 there were only 60 companies. Abgaryan said they expect their number to grow to 100 by the end of 2017 and to more than 150 in 2018.
He also added that the website of the Agency contains information on more than 1000 reliable buyers who meet its minimum requirements. About half of them are from Russia, and the rest are from the EU and the Persian Gulf countries.
The Export Insurance Agency of Armenia was founded in 2013 by the decision of the government within the framework of the export-oriented industrial policy. The agency provides insurance against the financial losses incurred as a result of non-payment for supplied goods by the foreign buyer or its bank, which has a payment obligation under the contract. The agency is a fully state-owned company with over 2 billion drams worth capital. ($1 – 480.49 drams). -0-
Abgaryan said according to the government program for 2017-2022, approved last week, the number of insured export deals is to be doubled by 2018. Speaking to local reporters, Abgaryan said the volume of insured exports in 2016 amounted to 2.2 billion drams and today they are worth 1.732 billion drams, making 75-80% of the total of last year's portfolio. He also added that in the first six months of 2016, the volume of insured exports was 334.4 million drams.
According to him, since the beginning of the year, 40 companies have submitted applications for the use of the Agency's services, while in 2016 there were only 60 companies. Abgaryan said they expect their number to grow to 100 by the end of 2017 and to more than 150 in 2018.
He also added that the website of the Agency contains information on more than 1000 reliable buyers who meet its minimum requirements. About half of them are from Russia, and the rest are from the EU and the Persian Gulf countries.
The Export Insurance Agency of Armenia was founded in 2013 by the decision of the government within the framework of the export-oriented industrial policy. The agency provides insurance against the financial losses incurred as a result of non-payment for supplied goods by the foreign buyer or its bank, which has a payment obligation under the contract. The agency is a fully state-owned company with over 2 billion drams worth capital. ($1 – 480.49 drams). -0-
