ArmInfo.On October 20, the Russian Export Center (REC) will organize a business mission for Russian manufacturers to Armenia. This is stated in the official statement of this state organization.
According to the report, export deliveries of non-primary non-energy goods from Russia to Armenia for 7 months of this year increased by 21%, amounting to $ 623 million. Moreover, the main export drivers were the goods of the upper processing, they occupy 70% of the NOE structure.
The deliveries of mechanical engineering grew especially noticeably, which increased by 52% and amounted to USD 218 million. Armenia, as noted in the report, has become a major importer of domestic engineering products. In particular, for 7 months of this year, it accounted for 29% of tractors sent for export, 19% of buses and trolleybuses, and 12% of passenger cars. With the support of REC, 27 passenger cars of various classes were delivered to Armenia this summer. They will be used on the South Caucasus Railway to organize international communication between Armenia and Georgia. It is noted that the transaction was financed by EXIMBANK of Russia JSC, a member of the REC Group. The bank provided the Eurasian Development Bank (EDB) with financing to pay for the supply of modern passenger cars to Armenia from the Tver Carriage Works. The amount of the provided financing exceeds 1 billion rubles. The deal was implemented under the insurance coverage of EXIAR JSC as part of the program to support the export of high-tech products. REC is now considering several more projects for the supply of Russian engineering products to Armenia.
The report also notes that in the first 7 months, the volume of Russian food and agricultural products exports to Armenia turned out to be 6% higher than in January-July last year, amounting to about 160 million US dollars. The main product groups in this segment are grain, confectionery and fat and oil products. The export of chemical products increased by 17% and amounted to USD 89 million. The basis is formed by plastics, pharmaceuticals, household chemicals, perfumery and cosmetic products.
REC has recorded an increase in trade between countries in all major sectors. This is due to the fact that now there is a completely natural recovery of international trade. Exhibition activities are resumed, mutual visits of delegations have become possible again. For the conclusion of foreign trade contracts, face-to-face events and live contacts are important, which in 2020 practically came to naught.
For 3 days, which will last a business mission, REC to Armenia, the organization plans to hold a number of B2B meetings between Russian and Armenian business sector, as well as hold a plenary session on the topic: "Development of economic cooperation and partnership - new opportunities for interaction between the businesses of the two countries" and a series of round tables in the interests of businesses engaged in the export and import of heavy machinery, food, medical and pharmaceutical products.
"Russian Export Center" JSC (REC) is a state institute for support of non-resource exports (part of the VEB.RF Group), consolidating a group of companies that provide Russian exporters with a wide range of financial and non-financial support measures. 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.
