Russian President Vladimir Putin meets Vnesheconombank Chairman Vladimir Dmitriev
Vladimir Putin had a working meeting withVnesheconombank Chairman Vladimir Dmitriev. They discussed support for non-raw materials exports and lending to manufacturing sectors.
V.Putin: Mr Dmitriev, let’s start with supporting non-raw materials exports. You wanted to discuss this issue. Please, go ahead.
V.Dmitriev: I would like to tell you that we have established a single -window system with a view to the establishment of the Russian Export Centre. This system is already operating now. We plan that Roseximbank and the Export Insurance Agency will soon join it too. Even now, we have already made substantial progress in providing support for industrial exports, and this can be seenin our increased lending to Russian exporters. Volumes of loans are quite impressive now, but the main thing is that the dynamics is quite impressive.
Vnesheconombank’s loan portfolio now amounts to about 350 billion rubles. This money is used to support Russian exports – guarantees and loans for Russian suppliers and for foreign importers of Russian products . Compared to July of 2013, when the comprehensive support system for industrial exports was put into effect, the volume of guarantees has grown five-fold, and loans have increased 30-fold.
This is a significant growth and we think this trend will continue. We already have 550 billion rubles worth of loans in various stages of readiness, in addition to the 330 billion rubles I mentioned before which have alreadybeen extended.
It is important that the industrial exports support system is based on a robust state support system. Thesemechanisms are provided for within the Organization for Economic Cooperation and Development, they includesubsidized interest rates and other instruments that we can offer to Russian exporters.
It is also important to note that the Export Insurance Agency of Russia’s amount of transactions with insurance coverage is 130 billion rubles in addition to the sums I mentioned earlier. Here the dynamicsis impressivetoo and there are good prospects for moving forward.
We hope that these state support measures will be sustainable. In this respect, we are working actively with the Industry and Trade Ministry and the Economic Development Ministry. As to the product range, it includes, above all, products of energy machine-building industry, transportmechanical engineering, agricultural machinery, aviation industry, and automotive industry.
The geography is also wide and it covers not only the near abroad, but also markets in which we are only now restoring the positions we held in the past in such sectors as energy machine building industry and supplies of power equipment to Latin American countries such as Ecuador and Argentina.
Mongolia is a market we have yet to develop, with a view to capabilities and mechanisms of EXIAR’s (the Export Insurance Agency of Russia) disposal, we are also taping markets in Southeast Asia and Central Asia. So, it is safe to say that the system works, and most importantly, exporters see that the mechanisms the state has created are reliable.
V.Putin: O’K, in which sectors and markets in your opinion did these mechanisms prove to be most efficient as oftoday?
V.Dmitriev: I would highlight above allLatin American markets. I think the supplyof the Sukhoi Superjet to Mexico was a breakthrough transaction. The contract is for 20 planes, and they are flying not only in Mexico itself but also abroad. Customers are happy, and the main thing is that the planes have demonstrated their reliability, good flying characteristics and cost effectiveness. I’ve already mentioned the supplies of power equipment to Ecuador and Argentina.
I think these are the most promising markets in terms oftheir size, geographical reach and in terms of sales of Russian industrial products abroad.
V.Putin: As far as our economy is concerned, there is enough room for improvement. We have yet to talk about it.
Official site of the Russian President
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