Russia Invites African Business Participants
Russian Export and Investment Fair (REIF) to be held on 19-20 November 2015, for the first time, will gather high level participants from more than 50 countries and 80 regions in Russia. The purpose of the REIF is to create an international platform for professional dialogue of the business community. The REIF is designed to help government leaders, representatives of ministries, departments, business corporations and industries from across the world to meet new partners. It will also offer participants the opportunity to receive up-to-date information on the current trends, challenges and prospects of development of export and investment activities of world-class professionals as well as to expand the circle of business contacts.
In this exclusive interview, Maxim Chereshnev, the Chairman of the Board of the Council for the Development of Foreign Trade and International Economic Relations, explains to Kester Kenn Klomegah, about the significance of the forthcoming corporate business event.
Interview excerpts follow:
Q:What are the key objectives of the forthcoming Russian Export and Investment Fair scheduled for November in Moscow?
Chereshnev: Russian trade and economic development council jointly with Agency of Strategic Initiatives have initiated this Fair as the first platform in Russia for direct business community international dialogue. After examining the experience in events organizations in other part of the world, particularly in China, Hong Kong, Korea and Singapore, the decision was made to adopt the best practices in Russia. Indeed, REIF is aimed at providing business with opportunities for meetings and the beginning of cooperation between Russian and foreign companies. Within REIF it will be possible to present export and import possibilities of Russian and foreign companies, their investment projects, to attend training courses and seminars, to arrange b2b sessions as a way of sharing views and so forth.
Q:Is this an effort directed at promoting Russian export products and services as Vladimir Putin has urged businesses to do?
Chereshnev: As President Vladimir Putin noted in his message to the Federal Assembly, raising business development, diversification of economy and non-resource export are key priorities for economic prosperity of Russia. RTEDC as a trade promotion organization is exactly aimed at global communication development and mutually beneficial business relations strengthening in compliance with the governmental politics. RTEDC activity and REIF initiative definitely suit investment promotion, trade facilitation and export support of Russian companies as instruments for new opportunities creating for small and medium enterprises.
Q:Do you think that the Fair can help stimulate export transactions and the flow of corporate business deals abroad?
Chereshnev: REIF is a result of long and hard work on strengthening b2b communication between Russian and foreign companies. RTEDC has a range of 20 priority countries for collaboration. RTEDC special representatives and chairmen of profile RTEDC committees for cooperation with these countries assist to different business cases realization which RTEDC deals with. These are examples of private business interest. Without doubts, REIF will lead to growth of general mutual interest, demonstrate facilities of Russian companies and highlight favorable conditions for active business interaction. Prearranged meetings and business matching will allow to find partners and investors for projects realization both abroad and in Russia. REIF is not just fair but also the platform where participants will get opportunity to negotiate and to make agreements with new partners. After REIF, RTEDC will provide companies with full assistance in all communications.
Q: As it shows, so who should attend this Russian Export and Investment Fair? Can we expect something new in terms of foreign participation?
Chereshnev: Foreign manufactures and companies which are interested in localization in Russia or in joint production, companies which search for projects and investment to Russia or those business representatives that are looking for export from Russia or would like to present their own products and technologies as well as Russian export companies, Russian regional representatives are invited for participation in this business event. We suppose that matchmaking and working sessions will be really useful for mutual benefits of REIF exponents and guests. REIF would specially welcome companies from Asian and African countries as participants and visitors. Thus, nowadays perspectives of business contacts between Russian and African business are actually underestimated, however, there are a huge number of opportunities for technology exchange, trade promotions, mutual investment between Russia and South Africa, Morocco, Zimbabwe, Namibia, Egypt, Kenya and other African countries.
Q:How important is this corporate business event for Africa?
Chereshnev: Import substitution policy in Russia and general course on economic diversification are favourable for other countries to export/import relations development and investment with Russian companies. It includes interests of African countries within their economic development and independence from traditional and new monopolists in African markets. At present African continent with its total economic growth rate 5-5,5% per year on average attracts attention of international business community. It puts Africa on the second place in the world growth rates.
According to forecasts by 2033 African GDP will reach to East Europe figures, including Russia, and by 2039 – to Latin America rate. It’s pleasure to note that Russia and African states have a long story of relations. Import of coffee, cacao, tea, citrus, sea products from African states is important for Russia. At the same time Russia is interested in African market for joint production and export of technical, military, industrial equipment and services in satellite communications, geological survey and power engineering.
Some Russian companies such as Gazprom, ALROS, Rusal, Norilsk Nickel and others are already operating in Africa. Moving on, Russia is the 5th country in total volume of investment among all states in Africa. What is very important today is the fact that new opportunities are arising for small and medium enterprises of Russia and Africa for their collaboration. For instance, agricultural, high-tech, medicine, energy-saving technologies, logistics and infrastructure projects are really perspective for strengthening Russia-African economic cooperation. That’s why we invite participants from Africa for establishing closer contacts and continue cooperating in key sectors of the economy. We call on all interested companies and organizations to register on REIF website ( http://www.rusfair.com ) and provide us with information about their needs and requests from this first Russian Export and Investment Fair.
Interview by Kester Kenn Klomegah.