Russian Export Center REC

Company

State and social structures
Since 2015
Russia
Central Federal District of the Russian Federation
Moscow
123610, Krasnopresnenskaya nab. 12, entrance 9

Top managers:
Nikishina Veronika Olegovna

Owners:
ВЭБ.РФ (formerly Vnesheconombank)

Content

Objectives and objectives of REC
Interaction model
History of development and activity
See also

Assets

Owners

+ Russian Export Center (REC)

+ Government of the Russian Federation

Objectives and objectives of REC

Russian Export Center JSC is a state export support institute established in the structure of Vnesheconombank with the support of the Government of the Russian Federation. On June 29, 2015, President of the Russian Federation Vladimir Putin signed the Federal Law on Amendments to Federal Law No. 82-FZ of May 17, 2007 "On the Development Bank."

Interaction model

The center is a "single window" for working with exporters in the field of financial and non-financial support measures, including interaction with relevant ministries and departments. On December 10, 2015, the Russian Export Center became the sole shareholder of EXEAR JSC.

The center is formed in the form of a specialized client service for exporters with competencies in the field of export activities, including consultations on export issues, assistance in organizing export activities, and support for the passage of export procedures.

The activities of the Center are focused, among other things, on supporting exporters' requests when working with relevant ministries and departments, state services.

Within the framework of the non-financial support functions, the Center is also focused on coordinating the activities of trade missions of the Russian Federation abroad in terms of supporting export projects.

Model of REC interaction

History of development and activity

2025: Cryptocurrency Settlement Platform Launch

In mid-July 2025, the Russian Export Center (REC; Group ВЭБ.РФ) presented a new solution for cross-border settlements. The platform allows you to make payments using digital tools, including cryptocurrencies.

Angelina Akimenko, Managing Director for Promising Financial Technologies at REC, spoke about the project. According to her, we are talking about the implementation of transactions within the current legal field. It is assumed that the possibility of using cryptocurrencies for settlements will be especially in demand when working with counterparties from countries where such payment instruments have already received official recognition and are actively used in practice.

Russian export center launched a platform for settlements in cryptocurrencies

REC notes that ensuring a cross-border payment infrastructure that is resistant to external restrictions will significantly increase the potential of Russian foreign trade. With this in mind, the export center supports the use of digital currency in cross-border settlements.

Around the world, there is already an increase in the popularity of the use of cryptocurrency for cross-border settlements, especially in those regions where the traditional financial system is less developed. We see this as a great potential for the development of foreign trade relations. It is important that the movement of cryptocurrency and its accounting are transparent to regulators, says Stanislav Georgievsky, vice president of the REC.

It is assumed that the use of cryptocurrency assets in cross-border transactions will reduce the legal and tax risks of Russian companies, as well as overcome barriers associated with increased settlement costs. It is also emphasized that friendly and promising countries for cooperation are among those where digital currencies are most actively used.^[1]

2020

Transition under the control of ВЭБ.РФ

On November 23, 2020, Russian Prime Minister Mikhail Mishustin announced a large-scale optimization of development institutions. Some of them will come under the control of the state corporation ВЭБ.РФ. More details here.

Opening with SAP of free access to SAP Ariba for Russian exporters

On April 9, 2020, SAP CIS announced that access to the SAP Ariba business network until May 10, 2020 will be free for Russian exporters. Thanks to the cooperation of REC and SAP, as of April 2020, more than 2,000 Russian exporters have already been registered in the SAP Ariba system. Read more here.

Appointment of Veronica Nikishina as CEO

On February 6, 2020, it became known that Veronika Nikishina, who previously served as Minister for Trade of the Eurasian Economic Commission, was appointed General Director of the Russian Export Center (REC). Read more here.

Nigeria Steel Plant Recovery Plan

As the Minister of Mining and Metallurgy Development of Nigeria Olamilekan Adegbite said in January 2019, a memorandum of understanding should be signed by the end of January to finance the restoration of the Ajaokuta Steel plant, almost built in 1979, but never commissioned.

The cost of the project will be $1.46 billion. Of these, $1 billion should be provided by the African Export-Import Bank (Afreximbank), and the remaining $460 million by the Russian Export Center.

The restoration of the Ajaokuta Steel plant, which was built by Soviet specialists, was discussed at the summit Russia Africa"-" in October 2019. It is assumed that the project will be implemented by the Russian group of companies. " MetProm The period of work is estimated at 2-3 years. After the launch of the enterprise, it will be managed by Russian representatives.

The Nigerian government, for its part, promises to solve all problems with providing the enterprise with raw materials, primarily iron ore. According to Minister Adegbite, the launch of Ajaokuta Steel will play a crucial role in the development of the country's economy, since "industrialization requires its own steel production."

2018

Agreement on the creation of the Russian Center for Digital Innovation in the UAE

In October 2018, the Russian Export Center (REC) signed an agreement with the Dubai Internet City Free Economic Zone and Al Around Group to create the Russian Center for Digital Innovation and Information Technologies (RCCI) in the United Arab Emirates (UAE).

Dubai Internet City is one of the free economic zones deployed in the UAE by Tecom Investments and focused on attracting high-tech organizations. Residents of the zone receive tax breaks, concessions in terms of requirements for foreign ownership.

The RCCI will become a resident of Dubai Internet City, and Al Around Group will act as its operator, explained Marat Korovaev, project manager of the REC for supporting high-tech exports. The future leadership of the RZCI has not yet been determined.

RZCI will provide marketing support to Russian companies when promoting their products in the Middle East markets. REC also managed to agree that residents of the RZI, in addition to the benefits that residents of Dubai Internet City have, will receive certain concessions regarding the rules for hiring personnel, Korovaev added.

Infowatch, which has been operating a representative office in the UAE for a year, took an active job in creating the RZCI.

Russian companies have a problem with self-esteem and marketing. We know how to make high-quality products, but we do not know how to present them and do it alone. While comprehensive solutions are needed in the Middle East. The idea of creating the RZI appeared a long time ago. The center's task is to create comprehensive solutions, both software and hardware, and promote them in the Middle East, using support from both REC and a local partner in the person of Al Around Group^[2].

'Christina Tanzura, Managing Director of Infowatch for Middle Easterns '

$800m Financial Support to Industrial and Household Chemicals Exporters

REC provided financial support for the export of Russian industrial and household chemicals in the amount of $800 million, at the moment REC has 14 projects in operation, the amount of support of which is estimated at $700 million. This was announced in March 2018 by Nikita Gusakov, Managing Director for Client Work of the REC, at the International Scientific and Expert Forum "Growth Resources. Chemistry for Life: State and Business, "which was held in Moscow on March 27-28, 2018.

The volume of chemical industry exports supported by REC amounted to more than $4.8 billion, the main share was fertilizers. "2017 was a good year for export deliveries. According to the results of 2017, Russian exports increased by 25% to $357.1 billion. Non-primary non-energy exports, including the chemical industry, grew by 22.5% over the same period - to $133.7 billion. Over the past 14 months, a continuous increase in exports has been recorded. The President of the Russian Federation has set an ambitious task: to bring the amount of AE to 250 billion dollars. USA by 2024, that is, to increase the volume almost twice., And we understand that the chemical industry has great potential and is one of the main drivers, "commented Nikita Gusakov

The geography of exports of goods of industrial and household chemicals is expanding primarily to the CIS countries, as well as Mongolia and the states of the Middle East. The most popular support tool used by REC customers from the household and industrial chemicals industry is insurance of export contracts. Sales traditionally go with a deferred payment, so companies are interested in insurance of non-payment risks.

Lending to exporters for the execution of export contracts and buyers is also in demand. Thanks to a joint program with the Ministry of Industry and Trade of Russia, REC provides preferential financing rates, there is demand both from retail chains, especially in the CIS countries, and from other buyers of Russian products.

Other REC support programs include financing export-oriented industries, compensation for certification costs (up to 90%) and homologation, transportation subsidies. Among the non-financial support measures is a program of promotion to foreign markets, implemented jointly with the Ministry of Industry and Trade of Russia. Financing of participation in exhibition activities abroad is carried out in accordance with the Decree of the Government of Russia No. 488. The REC website contains a list of events that are supported by the state and may be of interest to companies in the chemical industry.

Participation of 38 medical equipment developers at Arab Health organized

The Russian exposition, first presented on such a large scale at Arab Health in January 2018, aroused significant interest among foreign companies. During the two days of the exhibition, 122 meetings of Russian companies with potential foreign partners from the Middle East, North and East Africa on the MatchMaking system were held at the Russian exhibition. On the squares of the Russian exposition, presentations of the activities of Russian companies for participants and guests of the exhibition took place. Following the results of the negotiations, a number of contracts with foreign buyers are expected to be signed.

2017

ARPE Agreement

The Association of Developers and Manufacturers of Electronics (ARPE) and JSC Russian Export Center (REC) signed an agreement in September 2017 on cooperation in the development and support of exports of high-tech products and services. The Association aims to multiply the number of exporters and export volumes of Russian electronics by exchanging best practices and reducing the barriers of the initial stage. The strategic goal is a tenfold increase in the share of Russian electronics in the world market by 2035: from negligible 0.3% to noticeable 3%. Having expert knowledge, extensive powers and extensive experience in the development of the export potential of Russian companies, REC will provide the companies participating in the Association with comprehensive assistance in the process of entering foreign markets.

Agreement with Angstrom Group of Companies

Within the framework of the St. Petersburg International Economic Forum, the Angstrem group of companies entered into a cooperation agreement with Russian Export Center JSC. The document was signed by the chairman of the board of directors of the Angstrom Group of Companies Leonid Reiman and the general director of the export center Pyotr Fradkov.

The subject of the agreement is the expansion and deepening of partnerships for the development of the export activities of the enterprise.

In the course of cooperation, REC will facilitate the export of products to foreign markets in the main areas: power electronics, power management chips, consumer electronics.

Cooperation with Rostec

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Rostec State Corporation and Russian Export Center Joint-Stock Company (REC) signed a cooperation agreement in June 2017 in order to implement state policy in the field of development and support for the export of high-tech products. On the part of Rostec, the agreement was signed by the General Director of the State Corporation Sergey Chemezov, on the part of the Russian Export Center - by the General Director of the REC Peter Fradkov.

The parties agreed to jointly and consistently carry out measures to develop the export of high-tech products produced by Rostec organizations.

Within the framework of the agreement, Rostec and REC organize an information exchange: Rostec will be responsible for informing holding companies and direct management organizations of Rostec about the activities and capabilities of REC, and also provides REC with information on the conduct of events related to the export of high-tech products and the development of international activities.

In turn, REC will provide information on the possibilities and prospects of foreign markets, and will also contribute to the search for foreign partners with further support for foreign economic activity. In particular, to assist in the execution of export contracts, the passage of certain export procedures, international adaptation of export goods and consultations on the procedures for completing the export contract.

REC will also provide financial assistance to Rostec organizations in the field of insurance support and the provision of state guarantees, as well as assist in lending to foreign buyers of Russian products and foreign financial institutions.

Money to pay for the participation of IT companies in major foreign exhibitions

On April 24, 2017, by its resolution, the Government approved the rules for granting subsidies from the federal budget to the Russian Export Center to finance the promotion of domestic high-tech products to foreign markets.

Companies interested in exporting their products can choose an exhibition in which they want to take part from the list on the REC^[3].

Among the exhibitions of interest to IT companies, the list contains Mobile World Congress in San Francisco (USA) and Barcelona (Spain), CeBIT in Hanover (Germany) and Bangalore (India), International Consumer Electronics Show (CES) in Las Vegas (USA), a number of events in Dubai (UAE), São Paulo (Brazil), etc .

Up to 80% of the costs of participation in a large foreign exhibition can be compensated through the Russian Export Center

In total, the REC can spend 2.7 billion rubles in 2017-2018 to finance the participation of Russian companies in foreign exhibitions, but no more than 270 million per event, Stanislav Shavrin, senior expert at the REC on IT exports, told TAdviser.

REC will compensate small and medium-sized businesses for 80% of the costs of participating in the exhibition, large companies - 50%.

In addition to IT, REC is ready to finance participation in exhibitions of companies engaged in agriculture, automotive, electronics, light and food industries, etc.

Platform for fan placement of goods on online trading platforms

On February 14, 2017, the Russian Export Center (REC) and SPSR Express signed a cooperation agreement, which implies the development of logistics solutions for Russian exports and the creation of a platform for fan placement of goods on online trading platforms around the world. The document was signed by the heads of companies - the head of the REC group Petr Fradkov and the general director of SPSR Express Vladimir Solodkin.

To increase sales of Russian goods and services in the Internet environment, the parties will assist Russian suppliers in registering, creating virtual stores and placing goods on world B2C and B2B online sites. In addition, the agreement provides for subsequent comprehensive support for Russian manufacturers. We are talking, among other things, about the issues of international adaptation of goods, patenting and protection of intellectual property, as well as the provision of marketing, analytical, credit guarantee and insurance support.

2016

Nikolay Nikiforov: five factors in the increase in high-tech exports

In November, the Minister of Communications and Mass Media of the Russian Federation Nikolai Nikiforov named the following factors that could contribute to the growth of high-tech exports from Russia:

increasing the attractiveness of Russian jurisdiction for companies,
export financing,
simplification of a number of financial and legal procedures,
creation of a single umbrella brand for Russian products abroad,
the formation of new sales markets in modern geopolitical conditions.

Agreement with the Ministry of Telecom and Mass Communications

In September, the Minister of Communications and Mass Media of the Russian Federation Nikolai Nikiforov and the General Director of the Russian Export Center (REC) Pyotr Fradkov signed an agreement on export support. The purpose of the agreement is to increase the volume of Russian exports of products and services of the information and communication technology industry, as well as the number of export-oriented enterprises.

To create favorable conditions and expand the export activities of Russian IT companies, cooperation will be organized to improve the legislation of the Russian Federation in the field of communications and IT, promote a platform of a cross-border confidence space to support the export of Russian IT products, and develop special financial and non-financial support tools for IT companies. The parties intend to assist in the development and creation of information and search engines that contribute to the activities of export-oriented IT enterprises, participate in the activities of intergovernmental commissions for trade, economic, scientific and technical cooperation, as well as other activities aimed at supporting Russian exports of IT products and services.

Under the terms of the agreement, REC will also analyze and summarize the practice of exporting IT products and services, study best foreign experience, and develop proposals for improving the service of international mail. Proposals will also be prepared for the development of regional informatization in order to improve the conditions for doing business for export-oriented IT companies. The corresponding proposals will be sent to the Ministry of Communications of Russia.

Roselectronics will export through the Russian Export Center

The Roselectronics holding (part of the Rostec State Corporation) intends to attract the organizational and financial capabilities of the Russian Export Center JSC (REC) to develop its foreign economic activity. The parties entered into an agreement in the summer of 2016, which involves the development of cooperation in order to increase the efficiency of the export activities of the state holding, in particular, the organization of its financing and insurance, as well as the promotion of Roselectronics products in foreign markets.

The agreement is a framework document and provides for the possibility of concluding substantive agreements between the parties on the provision of consulting services to REC, assistance in lending, insurance support and the provision of state guarantees in the formation of export projects of Roselectronics.

In 2015, the volume of exports of the Roselectronics holding amounted to about $120 million, exceeding the level of the previous year by 40%.

Investment elevator

The Investment Elevator mechanism was launched in April 2016 as part of support for high-tech projects of small and medium-sized enterprises related to non-resource exports. It provides for the involvement of leading development institutions (SME Corporation, Industrial Development Fund, RDIF and the group of companies of the Russian Export Center (REC, EXEAR and Roseximbank)) in the activities of providing financial support to SMEs at various stages of their life cycle. Within the framework of the Investment Elevator mechanism, small and medium-sized companies can count on both financial (joint-stock and debt financing, provision of guarantees, export lending and insurance) and administrative and consulting support for projects, including when promoting companies and their products in target international markets. See the Investment Elevator for more details .