How to support Russian non-resource export? Opinion of the experts from the Ministry of Economic Development

20:52, November 24, 2017

Artyom Shadrin announced the main tools to the participants of the economic conference

Director of the Department for Social Development and Innovations, Ministry of Economic Development of the Russian Federation, Artyom Shadrin proposed the main tools for supporting exports to the participants of the round table «Non-Resource Export: Opportunities and Perspectives».

Among the most important support points, the Director outlined the subsidization of interest rates on lending and export of industrial products:

«There is a mechanism of pre-export financing, when there is lending to a Russian enterprise on the loans of only contracts for the supply of products at concessionary interest rate. Pre-export financing does not burden like a bank loan, this is medium-term financing for five years. Moreover, it can be repaid after products have been supplied, and the bank actually gives a deferred payment to the importer».

Artyom Shadrin also noted the importance of subsidizing the rates of transporting export products, elaborating a strategy for the development of export support at the regional level — this is the development of a network of regional centers of export support.

He added that there are also such tools as participation in working groups, intergovernmental commissions and participation in business councils.

We will remind that the round table «Non-Resource Export: Opportunities and Perspectives» is included in the program of the conference «Russian Regions in the Focus of Changes», which is held annually in November by Expert Ural Business Magazine and GSEM UrFU.

Reference

XII International Conference «Russian Regions in the Focus of Changes» (November 16-18, 2017, Ekaterinburg).
Organisers: Ural Federal University, Graduate School of Economics and Management, Analytical Center «Expert», Expert Ural Business Magazine.

For many years the conference has been one of the biggest discussion platforms in the Urals covering issues of regional development and involving representatives of executive authorities, academia, medium and large industrial business leaders from different regions. Every year leading Russian economists take part in the conference.