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16.04.2012

Meeting of the OECD Working Party on Export Credits and Credit Guarantees

Peter Fradkov, CEO of the Russian Agency for Export Credit and Investment Insurance (EXIAR) and member of the Russian delegation, attended the meeting of the OECD Working Party on Export Credits and Credit Guarantees, which took place on 16–17 April 2012 at the OECD's headquarters in Paris.

In the Russian delegation's presentation, it was noted that Russia already has all the support mechanisms for exporters in place, including state financing of exports, systems for providing state guarantees, and export credit and investment insurance. EXIAR, which was founded in October 2011, gave a presentation to the OECD Working Party on Export Credits and Credit Guarantees for the first time. Speaking to the audience, CEO of EXIAR Peter Fradkov underlined the Agency's commitment to adhere to OECD regulations and recommendations in order to ensure that EXIAR's regulatory framework meets current international standards.

The Russian delegation at the meeting was led by Vladimir Tkachenko, Deputy Director of the Trade Negotiations Department at the Ministry of Economic Development of the Russian Federation, and government spokesman for Russia's negotiations to join the OECD. Members of the delegation also included Department Director of Public Debt and Government Financial Assets at the Ministry of Finance of the Russian Federation Konstantin Vyshkovsky, representatives of the Ministry of Economic Development of the Russian Federation, and Russia's trade mission in France.

Info: the OECD Working Party on Export Credits and Credit Guarantees was established in 1963. The group aims to identify joint strategies in the field of export credits which have a repayment term of two years or more and are insured by export credit agencies operating with the support of the governments of OECD member countries. Members of the group include OECD member states and organisations with observer status (the European Commission, the Berne Union, the WTO, the World Bank, the IMF, and the European Bank for Reconstruction and Development). Russia is participating in OECD events as an observer.

The Russian Agency for Export Credit and Investment Insurance (EXIAR) was established in October 2011. EXIAR’s mission is to support Russian high-tech exports by insuring export credits against commercial and political risks, as well as Russian investments abroad against political risks. EXIAR’s sole shareholder is Vnesheconombank. The Agency’s charter capital is RUB 30 billion (approx. USD 1 billion).