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News

23.10.2014

Russian Ministry of Economic Development and EXIAR organise complex business mission to Armenia

A complex business mission to the Republic of Armenia took place on 23 October as part of the 6th Expo-Russia International Industrial Exhibition in Yerevan, which was also attended that day by the Armenian President Serzh Sargsyan. The event was organised by the Ministry of Economic Development of the Russian Federation and the Trade Representative Office of the Russian Federation in Armenia. The Russian Agency for Export Credit and Investment Insurance (EXIAR) sponsored the business mission. The event took place at the Yerevan EXPO Exhibition complex.

Around 50 Armenian companies and banks, as well as over 50 export-oriented Russian companies took part in the business mission. The Russian delegation included corporates based in 11 regions across the country (Krasnoyarsk Territory; the Leningrad, Novosibirsk and Moscow regions; the Republic of Tatarstan; the Chuvash Republic; Stavropol Territory; and the Kirov, Rostov, Samara and Smolensk regions). Their specialisations covered a broad range of industries, including mechanical engineering; electrical, power engineering and food processing equipment; chemicals and textiles.

The business mission plenary session was moderated by Andrey Babko, Trade Representative of the Russian Federation in Armenia. The event began with an opening speech by Russian Ambassador Extraordinary and Plenipotentiary to the Republic of Armenia Ivan Volynkin and Director General of the Armenian Development Agency Robert Arutyunyan, who expressed their hopes that the event would prove beneficial to participants, and enable them to build business connections.

Oleg Mizerkov, Deputy Head of the Department of Economic Cooperation with the Customs Union and CIS States commented that "trade and economic relations between our countries is growing at a fast pace, and we would like to focus on establishing closer ties between Russian and Armenian companies."

Senior International Development Manager Dmitry Kunakov greeted business mission participants on behalf of EXIAR. This was followed by a detailed presentation of the Agency's insurance products by Pavel Ryzhkovsky, Senior Manager for Export Credit Insurance. Ryzhkovsky highlighted EXIAR's role in supporting Russian exports and investments abroad through providing insurance against commercial and political risks. He also drew attention to the fact that the Agency's clients consist not only of major companies and manufacturers, but also SMEs and banks based in Russia and abroad which provide export finance to Russian exporters and offer international trade services.

The heads of several regional export support institutions also gave brief reports on companies based in the Russian regions, and participating in the business mission. Sergey Ivanov, Director of the Novosibirsk Region SME Support Foundation, spoke about companies based in his region, including Siberia Development, Vektor-BiAlgam, Sibalux, R-Style, Nalco and Sakura Electronics Group. Yury Shchekaturin, Director of the Export Support Centre, covered companies from Rostov Region participating in the business mission, including Mayak, Rif Group, Monitor, and DeLogic. Speaking on behalf of companies based in Samara Region was Dmitry Krypaev, Executive Director of the Samara Region Entrepreneurship Development Foundation. Among the companies presented in his talk were Volga Komposit, Germeteks, Mega Mir, Shkval, Samaraneftekhimavtomatika, Aukustika, and Volgopromventilyatsiya.

Representatives of Russian and Armenian companies expressed a great deal of interest in potential cooperation during the networking session, which was organised as a series of engaging B2B meetings between Russian manufacturers and Armenian entrepreneurs and banks.

Participants of the business mission invariably emphasised the importance of the event, as well as of the new-found potential to implement joint Russian–Armenian foreign trade projects, particularly in the wake of the treaty signed on 10 October for Armenia to join the Eurasian Economic Union.

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. 

External Communications EXIAR