MOSCOW (Pakistan Point News / Sputnik - 26th March, 2023) The Russian government has approved a bill on the ratification of the agreement establishing the Eurasian Reinsurance Company that will provide foreign-trade insurance services to member states of the Eurasian Economic Union (EEU), the Russian cabinet's official website said on Sunday.
"To approve the draft Federal law 'On ratification of the Agreement on the Establishment of the Eurasian Reinsurance Company' and submit it to the State Duma (Russia's lower house) in due course," the cabinet's statement read.
The heads of government of the EEU countries decided to create the Eurasian Reinsurance Company in August 2022. The organization is designed to stimulate domestic and foreign trade, implement joint cooperation projects and EEU investments, while supplementing the operations of export credit agencies from the participating states at the supranational level.
