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News

02.09.2021
15:44

In the first half of the year, the REC Group supported the export of agro-industrial products from the Far Eastern Federal District for more than $ 700 M

The REC Group with its financial and non-financial support measures supported the volume of export of the agro-industrial complex of the Far Eastern Federal District for $ 590 million in 2020. More than 400 companies received the support. At the end of 6 months, the volume of supported export has already amounted to $ 716 million. This was declared by Maxim Kobin, Vice President of REC JSC, during his speech at the Eastern Economic Forum (EEF) on September 2, 2021.

“The Far Eastern Federal District, due to its geographical proximity to the Asia-Pacific region and the developed port infrastructure of the Primorsky Krai, is one of the leaders in terms of export of agricultural products, taking the third place according to the Federal Customs Service of Russia for 2020 with an indicator of $ 4 billion (13, 6% of the total export of the agro-industrial complex of Russia) after the Southern Federal District and the Central Federal District,” Maxim Kobin.

According to him, insurance of short-term accounts receivable by EXIAR JSC is one of the most effective tools for supporting exporters of the agro-industrial complex. It allows Russian exporters to supply products under deferred payment terms against the Agency’s insurance coverage.

EXIAR JSC uses this instrument when working with many companies from the meat, fat and oil, grain, and confectionery industries, including both large businesses and SMEs. Insurance coverage is provided for Russian exporters who are doing business with Chinese and Japanese companies, buyers from the USA, EU countries, the Persian Gulf, and the EAEU.

All of these markets may be of interest to exporters of the Far Eastern Federal District. Insurance limits can be quickly set on the respective foreign buyers.

***

The REC Group (part of VEB.RF) actively supports the export of agro-industrial products, using a wide range of measures of financial (credit guarantee and insurance support) and non-financial support (analysis of foreign markets, marketing research, evaluation of export potential and risks, search for partners abroad, analysis of trade barriers, etc.); promotion to foreign markets (participation in international exhibitions and business missions); customs clearance, including assistance in the registration of the customs regime of processing in the customs territory, etc.).

The REC Group plans to develop the functionality of the My Export (one-stop-shop) information system during 2021–2022. It is going to implement a fully digital interface for complex interaction with authorities and organizations (including laboratories and inspection bodies) to obtain veterinary and phytosanitary certificates required for the export of agricultural products.