Kazakh President Kassym-Jomart Tokayev has signed the Law on the Ratification of the Agreement on the Establishment of the Eurasian Reinsurance Company, the presidential press service said, Azernews reports, citing Interfax.

The agreement was signed in Yerevan, Armenia, on October 20, 2022.

"The adoption of the agreement will allow financial organizations of the EAEU member states to actively support mutual international trade and investment activities and to carry out joint business projects in third countries," Kazakh Deputy Minister of Trade and Integration Kairat Torebayev said earlier.

The Eurasian Reinsurance Company will provide reinsurance protection for export and import organizations, thus reducing risks associated with their operations, according to Torebayev.