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Russian Agency for Export Credit Insurance Holds Workshop in Kaluga

Government Support to Russian Export-Oriented Companies in Foreign Markets workshop was held for exporters in Kaluga on February 16, 2016 with an active participation of financial institutions of Kaluga Region and the Russian Agency for Export Credit Insurance. Leading national and regional experts and the workshop attendees discussed government measures supporting export of Russian products and investments abroad as well as specialized products for export-oriented companies.  

The Russian Agency for Export Credit Insurance was established as a specialized government institution to support export using insurance mechanisms to protect Russian export credits and investments abroad.  It acts as a national export credit agency. It was formed from the scratch in order to promote the development and implementation of export support program announced by the Russian Government    in the end of 2009 within the framework of national economy anti-crisis agenda.  

The Agency actively supports the development of the government structure to promote export activities and closely cooperates with relevant ministries and government agencies (the Government of the Russian Federation, the Ministry for Economic Development of the Russian Federation, the Ministry of Finance of the Russian Federation, the Ministry of Industry and trade of the Russian Federation, etc.). It accumulates international best practices in the financial area and strongly supports exporters using its previous experience in the field of foreign trade. Its experts are familiar with specific features of Russian companies’ operations abroad. 

Vladimir Popov, the Minister for Economic Development of Kaluga Region, pointed out that the support of export operations under current economic conditions was of primary importance:

- Kaluga Region Government creates all necessary preconditions to promote export operations. We strive to secure business, jobs and taxes. Today we actively promote a special investment contract among automotive industry companies. They will be able to maintain the existing favorable regime to import automotive parts from abroad. This will help them reduce costs to organize the assembly process to export cars. Currently the scheme is being studied thoroughly both by Volkswagen and PCMA. Both companies have plans to apply SKD scheme to produce LCV for export abroad.

The minister mentioned the following facts and figures when speaking of export structure and volumes:

- In 2015 most of the Central Russia’s regions witnessed a drastic change in export geography. For instance, the Kaluga region’s export to the CIS countries went down by 45% mostly because of Ukraine (a three-fold decrease in export volumes).  The entire export volumes in Kaluga Region decreased by mere 8.4%. The fact is we managed to increase the amount of products exported to other countries (the annual increase of  58.3% or US$ 124 million). If we speak of export structure, Kaluga Region does not export raw materials. Engineering products accounted for 50.45 of the entire export amount.