Vnesheconombank Participates in the Eighth Ministerial WTO Conference
As part of Russia’s delegation Vnesheconombank participated in the Eighth Ministerial WTO Conference. The Conference took place in Geneva (Switzerland)on December 15-17, 2011.
In accordance with its agenda the Ministerial Conference – the WTO’s supreme body composed of member states representatives took a decision on Russia’s accession to the WTO. The WTO is designed to liberalize international trade and regulate trade and political relations between its member states.
Foreign trade state regulation policy is coordinated within the WTO including state funding of foreign trade and export – import insurance. Regulations and rules provided for by the WTO agreements are in line with principles of fair competition and free trade.
Russia’s accession to the WTO aims for the most part to expand capabilities to export Russian products and services to world markets among other things by way of taking measures to financially support Russian exports. In this respect, a large-scale project associated with developing the state exports support system on the basis of the Russian Export Credit and Investment Insurance Agency (OJSC) set up by Vnesheconombank would make it possible to launch an export credit insurance mechanism in line with the WTO’s regulations and rules.
The World Trade Organization was established in 1995. It is a successor to the General Agreement on Tariffs and Trade (GATT) concluded in 1947. In 1990, the USSR was given the status of GATT observer and in 1993 Russia filed an official application for joining GATT. Russia had been holding negotiations on joining the WTO since 1995.
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Vnesheconombank Conducts a Workshop Devoted to Development Projects of the North-West Federal District
Under the educational project “Training of Specialists – Participants in Investment Projects Implemented with the Assistance of Development Institutions” State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ conducted a workshop “Vnesheconombank: Development Projects of the North-West Federal District” for specialists working in government and municipal authorities of the North-West Federal District’s constituent entities and for representatives of business structures.
A welcoming address and reports on investment activity in the region and on implementing economic investment policy in Saint-Petersburg were given by Deputy Presidential Envoy to the North-East Federal District Sergei Zimin and Chairman of the Committee on Saint Petersburg’s Investments and Strategic Projects Alexei Chichkanov.
The workshop’s participants were informed by Vnesheconombank Group’s specialists about main lines of Vnesheconombank’s activity in the North-West Federal District, principles and criteria of selecting investment projects, specific features of financing export credits, terms of projects’ financial organizational support with the use of public private partnership mechanisms, programs of supporting small and medium-sized enterprises, application of leasing mechanism, objectives and functions of the Russian Direct Investments Fund
As part of the workshop a round-table discussion “Investment Potential of the North-West Federal District” was held. Its participants presented some investment projects at various stages of preparation to be discussed and commented on by specialists from Vnesheconombank Group.
Press Office of Vnesheconombank
Phone: +7 (495) 608-46-93, Fax: + (499) 975-21-34