As prelude to the BRICS Xiamen Summit, the 3rd BRICS Heads of ECAs Meeting was held from June 12th to 15th in Hangzhou, Zhejiang Province.

The meeting was attended by five heads of ECAs (Export Credit Agencies) of the BRICS countries: Mr. Marcelo Franco, CEO of Brazilian Guarantees Agency (ABGF), Mr. Alexey Tyupanov, Chairman of the Management Board & CEO of Russian Agency for Export Credit and Investment Insurance (EXIAR), Ms. Geetha Muralidhar, Chairman cum Managing Director of Indian ECGC Limited, Mr. Kutoane Kutoane, CEO of Export Credit Insurance Corporation of South Africa Ltd (ECIC), and Mr. Wang Yi, Chairman of the hosting China Export & Credit Insurance Corporation (Sinosure). Mr. Zhu Xian. Vice President and Chief Operations Officer of the New Development Bank (NDB) was invited to the meeting.

The participants had a productive discussion on a range of topics including project cooperation among BRICS ECAs, Internet development in the field of export financing, and ECAs�� role in the new environment.

The true highlight of the meeting was the signing of the MOU between the five ECAs and NDB. According to the MOU, the six parties will collaborate in sustainable development and infrastructure projects in BRICS countries, as well as in other emerging and developing economies. In addition, BRICS ECAs and NDB will share the information on export and investment financing and insurance, exchange their project experiences, and cooperate on capacity building.

The meeting proposed four pillars for further cooperation among BRICS ECAs - deepen the partnerships, create favorable external environment, actualize cooperation, and co-depict a vision to the future. BRICS ECAs would enhance the trust between each other, work together, materialize the cooperation, and achieve a win-win result in cooperation with other BRICS institutions like NDB. 

The participants agreed that the cooperation between BRICS ECAs and NDB has a special meaning in the context of trade and investment collaboration in BRICS and beyond, as well as within the scope of BRICS integration processes.