Pressing issues on non-commodity exports under discussion at SPIEF 2015
On 19 June, the St Petersburg International Economic Forum hosted the panel session ‘Non-commodity exports: made in Russia’.
The session was moderated by Alexey Bobrovsky, Head of Economic Programmes at Russia 24. Among speaking at the event were Alexey Likhachev, First Deputy Minister of Economic Development of the Russian Federation; Georgy Kalamanov, Deputy Minister of Industry and Trade of the Russian Federation; Peter Fradkov, First Deputy Chairman and Member of the Board of Vnesheconombank; Alexey Tyupanov, CEO of EXIAR; Dmitry Golovanov, Chairman of the Board of Eximbank of Russia; Vadim Chechnev, Economy and Finance Director of Power Machines; and Igor Titov, Deputy General Director of Renault Russia.
The discussion focused on the ways in which the economic situation is affecting exports; the potential to increase domestic production of goods; the difficulties encountered during a period of accelerated growth and diversification of exports; the state support measures most needed by exporters; ways to effectively promote Russian goods and services abroad; and additional incentives required to spur the growth of non-commodity exports.
According to EXIAR CEO Alexey Tyupanov, one of the key objectives for the country’s economic policy is to increase non-commodity exports, noting that “trade in non-commodity goods from Russia is gaining momentum, and today these products account for almost half of total exports.”
The Russian Agency for Export Credit and Investment Insurance (EXIAR) was established in 2011 as an open joint-stock company. 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. Vnesheconombank is the sole shareholder of EXIAR. The agency's charter capital is RUB 31 billion. Since November 2014 Eximbank of Russia, a Russian specialized government–owned export–import bank, has been a subsidiary of Russian Agency for Export Credit and Investment Insurance (EXIAR).
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