Wednesday, September 22 2021 11:16

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.