Russian Ministry of Agriculture and EXIAR to promote agricultural products abroad
The Ministry of Agriculture of the Russian Federation and the Russian Agency for Export Credit and Investment Insurance (EXIAR) intend to work together to boost exports of agricultural products and increase the number of foreign trade contracts being implemented. A cooperation agreement to this effect was signed today at AGRO-INNOTECH, an exhibition showcasing agricultural innovations from Shanghai Cooperation Organisation (SCO) member states. The event is being held in Moscow from 8to 10 October.
The document was signed by Minister of Agriculture of the Russian Federation Nikolai Fyodorov and EXIAR CEO Peter Fradkov.
The agreement stipulates that the Agency will work together with the ministry to promote Russian agricultural products and identify areas of potential consumer interest in Russian exports.
The two parties have agreed to undertake joint efforts to increase the number of insurance transactions made in order to support export projects. At the same time, steps will be taken to remove barriers which may otherwise inhibit the ability of domestic producers to export their products, and also to facilitate the promotion of Russian agricultural products abroad.
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 30 billion.
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