01.10.2020 16:45
Asia-Invest Bank is a subsidiary bank of the National Bank for Foreign Economic Affairs of the Republic of Uzbekistan in the Russian Federation. It finances Russian enterprises importing textile, fruit and vegetable products from Uzbekistan to Russia’s federal and regional trade networks.
Uzeltechsanoat Association’s products enter foreign markets, which have a high added value, uniting manufacturers of cable and wire products, electrical household appliances and electric power equipment.
The Bank and Uzeltechsanoat have started financing Russian enterprises that import household and electrical appliances into Russia. The parties have reached an agreement on opening a credit line to Russian enterprises – dealers/distributors of Uzbekistan’s Artel company.
In September this year, the Bank opened a credit line for the Russian distributor of Artel products, Artel-Rus LLC, which will allow the company to increase the supply of household products to million by the end of 2020.
Increasing the volume of exports of Artel and other Uzeltechsanoat enterprises to the Russian market, using the financial instruments of Asia-Invest Bank, will become an important driver for developing the industry with the prospect of a rapid growth in mutual trade and strengthening international cooperation between the two countries in one of the most technological and advanced areas of the economy of Uzbekistan.
