REC and VEB Addressed Preliminary Results of National Project for Development of Non-Commodity Exports

The Russian Export Center made public the preliminary results of the Project Workshop set up to compile a national program for the development of non-commodity export. The venue was attended by Head of Vnesheconombank Igor Shuvalov.

He stressed that per annum $250 billion worth of non-commodity exports, as targeted by President Vladimir Putin in his May Decree, is a difficult but attainable goal. Vnesheconombank considers further increase of the non-commodity exports as one of its key priorities.

“We ought to invest into the projects that will promote the country’s economic development including our exports. In order for Russia to achieve the rate of economic growth higher than that of the world we need to conquer new markets. As regards Vnesheconombank per se and its projects, — it is rendering budget support, it is providing guarantees and insurance by the REC, and it is utilizing the facilities of the SME Corporation. Further expansion of export opportunities implies manufacture of high-quality competitive products inside Russia, creation of new jobs, and improvement of quality of life of our citizens. On Monday, the Presidium of the Council for Strategic Development and Priority Projects under the leadership of Dmitry Medvedev will be held with all these issues on its agenda,” Igor Shuvalov emphasized.

Equally essential is optimization of logistics. “Logistics is important not only for moving goods, but also for making all the necessary payments — both tax fees and customs duties, for ensuring transparent transition of goods to the territory of the Eurasian Union. First of all, we should eliminate the existing bottlenecks to secure nonstop passage of goods. This is not just exports or imports. This is foreign trade and protection of the interests of national manufacturers,” Igor Shuvalov noted.

“The tasks set by the President in the framework of his instructions for increasing the volume of non-commodity non-energy exports imply the need to further improve the existing support tools and develop new mechanisms. Adjustments of the regulatory system, too, will be required, and we should give more attention to the state budget support measures. Support of exporters is a complex task involving the institutions of growth and development, ministries and departments concerned. It will be necessary to engage both major federal and regional companies. After all, the ambitious goal to double the volume of our non-commodity exports within six years will necessitate creation of new jobs, require increased influx of foreign currency earnings, and development of associated industries in the Russian Federation. The project workshop is an open dialogue of all the parties involved in the process. It is only in such format that we will be able to work out high-quality effective development programs,” said REC General Director Andrei Slepnev.

Within the framework of the Project Workshop, three primary sectoral groups have been formed: manufacturing industry, agriculture, and services, we well as five “servicing” groups: export regulation, financial and non-financial support measures, international trade logistics, the EEU and international barriers, and the national promotion system.

Press Office