Russian government to enhance assistance to non-raw material exporters of seafood

Russia’s Federal Agency for Fisheries (FAF) has conducted a special conference to brief the industry players on the facilities provided by the government to help boost exportation of processed seafood, according to FAF.

The conference was attended by representatives of the Russian Export Centre, Sberbank CIB, largest fishery companies from the nation’s Far East, Murmansk region, as well аs fishery unions and associations.

Russian Export Centre (REC)

At the conference, REC’s speaker demonstrated a wide range of financial and non-financial support tools to benefit the Russian exporters explore the foreign markets and build capacity in the global trade. Those came in compliance with the government’s program on export development targeting to bring the nation’s export of agricultural products to 45 billion USD by the year 2024.

The Russian Export Center Group incorporates the Russian Agency for Export Credit and Investment Insurance (EXIAR JSC) and Eximbank of Russia JSC aiming to offer comprehensive integrated services to the export-oriented companies.⁠ Established in late 2011 as Russia’s first ever export credit agency EXIAR now provides insurance support for exports of Russian goods and services (insurance for bank loans, short-term receivables and finance lease). Eximbank offers credits to exporters and buyers, as well as bank guarantees and financial services.

REC also acts as a focal point for interaction with the relevant domestic ministries and agencies and cooperates with key industries and business players in Russia to improve the export conditions in Russia and help bypass trade barriers.

As for non-financial support tools REC coordinates international certification, licensing, international market analysis and product promotion, logistics support and customs administration.

Along with the above, Russian Export Centre offers financial support to Russian exporters participating in largest international agricultural shows. According to the government’s order, participation in such events is subject to 50% subsidies (rising to 80% for small businesses). Besides, exporters are encouraged to take part in business missions in the most promising destination countries.

At the above mentioned conference deputy head of Russia’s Federal Agency for Fisheries gave a commission to develop recommendations for REC as to support measures on seafood transportation (first of all, by water) and recovery of ecological certification costs. Besides, the nation’s fishery industry official called it necessary to add the world’ key fishery exhibitions hosted by Brussels, Quingdao and Boston to the list of subsidized shows as participation in them directly tells on the rise of seafood shipments from Russia.

Sberbank CIB

A speaker from Sberbank CIB told the conference about a free online platform bankofpartners.com for participants of foreign trade enabling convenient search for business partners and companies’ adverts by required characteristics. So far the platform covers 144 countries.