On December 7, 2023, at the headquarters of China Export & Credit Insurance Corporation (SINOSURE)a business negotiation meeting was held between China Export & Credit Insurance Corporation (SINOSURE) and the Armenian insurance company LIGA INSURANCE
Initiating Organizations: Fund for Regional Development of Chinese-Armenian Relations Participating Organizations: China Export & Credit Insurance Corporation (SINOSURE) LIGA INSURANCE
December 7 at the headquarters of China Export & Credit Insurance Corporation (SINOSURE)
a business negotiation meeting took place between SINOSURE and the Armenian insurance company LIGA INSURANCE, dedicated to issues of commercial trade between China and Armenia.The meeting was attended by Dr. Sergey Avanesov, President of the Fund for Regional Development of Chinese-Armenian Relations, Chen Bin, Chinese Representative of the Fund for Regional Development of Chinese-Armenian Relations, Artak Antonyan, Vice President of the insurance company LIGA INSURANCE and Gagik Grigoryan Executive Director of the insurance company LIGA INSURANCE, Zhang Zhi, Head of Overseas Market Development Division 1(Africa,MENA Europe and CIS)Business Development and Client Service Department of SINOSURE, and Zhang Zhongxia, Regional Manager Overseas Market Development Division I (Africa, MENA, Europe and CIS) Business Development and Client Service Department of SINOSURE.
At the meeting, the possibilities and prospects of joint cooperation between SINOSURE and LIGA INSURANCE in Armenia were discussed in detail. At the beginning of the meeting, Director Zhang introduced SINOSURE's international business process for the first time, as well as the standards and methods for assessing the credit ratings of foreign buyers.The executive director of LIGA INSURANCE, Gagik Grigoryan, at the meeting said that LIGA INSURANCE, as a partner of SINOSURE, will help SINOSURE understand the true situation of Armenian buyers, and can also provide financial support to reliable buyers in Armenia.He also noted that a car dealer (Toyota-Yerevan) in Armenia recently entered into an agreement with the Chinese car manufacturer Chery, paying 100% advance payment for the cars.If SINOSURE participates, it is possible to change the existing cooperation model and reduce the share of advance payments paid by Toyota-Yerevan. This can increase the likelihood of successful collaboration between both parties.
Director Zhang expressed great interest and expectations for cooperation between the two sides, emphasizing that SINOSURE will fully support the export of Chinese goods to Armenia and create a more stable and reliable trade environment for enterprises of the two countries.The management of LIGA INSURANCE sent an invitation to the management of SINOSURE and sincerely invited them to visit Armenia in order to better understand the local business environment and search for potential cooperation opportunities. The parties also discussed other areas of cooperation. Both sides agreed to cooperate closely in the future and work together to develop economic and trade cooperation between China and Armenia.