(MENAFN- The Journal Of Turkish Weekly) Support of the development of export potential of small business and private entrepreneurship is one of the main directions of structural changes in the economy of Uzbekistan. One of the forms of the support of the export potential of small businesses and private entrepreneurship is the insurance of export contracts from political and commercial risks. Services in this area are successfully provided by the national export-import insurance company "Uzbekinvest".
Insurance of export contracts guarantees compensation of financial losses, such as non-receipt of funds from the foreign partner. The probability of occurrence of such situations makes it necessary to obtain reliable guarantees to protect the interests of exporters outside the country. This opportunity allows protecting the exporter from losses associated with non-return of foreign currency.
- By the results of 2014 the company "Uzbekinvest" issued to small businesses and private entrepreneurship 143 policies related to export contracts against political and commercial risks in the amount of more than 58 mln US dollars in equivalent. In comparison with 2013, this figure increased by 3 times. Basically it was the export of goods of textile and food industries to CIS countries, - says Umida Musalieva - Manager of the Department of export risk insurance and investment.
It should be noted that in order to issue an insurance policy, the insurer must collect and process the information about a foreign partner, his creditability (based on analysis of financial condition), the level of a risk, etc., that in a certain eliminates all risks of non-payment.
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