Framework Agreement of Cooperation between China Export & Credit Insurance Corporation Sinosure and Belarusbank was signed in the bank’s head office on September 12, 2017.
Belarusbank Chairman of the Board Viktar Ananich and Sinosure Chairman of the Board Mr. Wang Yi have affixed their signatures to the document.
They expressed confidence that the concerned parties will take necessary actions to implement the specified agreement which is meant to be the basis of the strategic partnership and will also promote the development of long-term and effective cooperation in order to create an effective mechanism for financing foreign trade contracts between Belarusian and Chinese business entities.
"We are ready to discuss any ideas and initiatives that will be useful and beneficial for both countries. By getting to know each other and expanding contacts we form not only a reliable basis for conducting successful international business, but also strengthen the mutual friendship, respect and trust,” said Belarusbank Chairman of the Board Viktar Ananich. “We regard this document as a new milestone in the development of our cooperation."
For reference: The People's Republic of China is one of the principal trade and economic partners of the Republic of Belarus. The current year of 2017 is particular in the history of our interstate ties. Belarus and China celebrate the 25th anniversary of the establishment of diplomatic relations. To this date, the cooperation between our countries has reached an unprecedentedly high level of strategic partnership. The dynamics of development of the Belarusian-Chinese trade can be judged by the fact that for a total of twenty-five years since the establishment of diplomatic relations the mutual trade turnover has increased by a factor of almost 100: from $ 34 million in 1992 to more than $ 3.5 billion in 2016.
Financial institutions play one of the key roles in the effective development of bilateral relations. Belarusbank, being the largest financial and credit institution of Belarus, together with its Chinese counterparts, will use best endeavors to implement effectively the today's agreements satisfying thereby the requirements of the national economies of Belarus and China.
For reference: China Export & Credit Insurance Corporation (SINOSURE) is the world's largest state agency for export credit insurance. This is the only company in China that issues insurance policies and specializes in credit insurance.