Annual Report 2013

Vnesheconombank’s Participation in Panels, Councils, Working Groups under the Auspices of Public Authorities, and in Intergovernmental Commissions

Participation in Intergovernmental Commissions

Intergovernmental commissions (IGCs), committees and working groups established within the IGC framework play a significant role in expanding bilateral cooperation between Russia and foreign countries. IGCs’ major goal is ensuring favourable conditions for the development of foreign economic relations and providing assistance to Russian entrepreneurs in their collaboration with foreign partners.

Russia cooperates with foreign states through 98 IGCs (including 12 with the CIS sates) and over 270 sub-commissions and working groups.

In 2013, Vnesheconombank took part in more than 40 IGC events in Russia and abroad, in particular, with such strategic partners as France, Germany, Ukraine, Japan and Great Britain. The Bank prepared and presented for consideration over 20 proposals, which were later embedded in IGCs’ final documents.

Admittedly, Vnesheconombank paid special attention to supporting exports and promoting export investment projects within the IGC framework.

In particular, the Bank discussed with France and Italy the possibilities of increasing insurance coverage of COFACE and SACE related to the deliveries of Sukhoi Superjet 100 aircraft to 85%.

Under the auspices of the Russian-Austrian Working Group on Financial Cooperation (RAWGFC) of the Joint Russian-Austrian Commission for Trade and Economic Cooperation, Vnesheconombank and Oesterreichische Kontrollbank AG, Vienna (OeKB) organized a joint workshop with participation of the representatives of EXIAR, SME Bank and EXIMBANK OF RUSSIA to debate most urgent issues related to risk management and SME support.

The VI Session of the Joint Russian-Algerian Commission for Commercial, Economic, Scientific and Technical Cooperation was devoted to the prospects for trade and economic cooperation with Algeria.

In 2013, Vnesheconombank took part in the II Meeting of the Russian-Brazilian Working Group on Interbank and Financial Cooperation of the Intergovernmental Russian-Brazilian Commission for Commercial, Economic, Scientific and Technical Cooperation. The Working Group gives priority to boosting partnership of Russian and Brazilian financial institutions.

Participants in the Meeting of the Working Group on Financial Cooperation under the auspices of the XI Meeting of the Intergovernmental Russian-Cuban Commission on Commercial, Economic, Scientific and Technical Cooperation confirmed their interest in developing interbank cooperation, in particular, with regard to financial support for large investment projects.

The XIV Meeting of the Subgroup on Banking and Financial Issues of the Russian-Indian IGC was devoted to the prospective lines of bilateral cooperation in the banking and financial sectors, including a gradual stitch-over by Indian and Russian banks to payments in Indian rupees and Russian rubles in trade operations between the two countries.

In 2013, within the framework of IGC meetings, Vnesheconombank also considered the possibilities of enhancing the areas and amounts of settlements in national currencies with China, Cyprus and Brazil.

Participation in Commissions, Councils, Sub-Commissions and Committees under the Auspices of Public Authorities

Vnesheconombank is actively involved in activities of coordinating and consultative bodies under the Russian Federation President and Government.

Vladimir Dmitriev, Chairman of Vnesheconombank, is a member of the Presidential Council for Economic Modernization and Innovative Development of Russia, Government Commission for Transport, Government Commission for Social and Economic Development of the North-Caucasian Federal District. The meetings witnessed in-depth discussions of the priorities of the Russian economy, including the development of industries and regions.

Traditionally, in 2013 the Bank paid special attention to participation in the Government Commission for Economic Development and Integration headed by Igor Shuvalov, First Deputy Prime Minister of the Russian Federation, as well as in the respective Sub-Commission for Economic Integration. The Commission and Sub-Commission tackled issues related to adjusting the Russian economy to the WTO and OECD membership requirements, with a strong focus on economy sustainability in the circumstances of an ever-changing foreign economic environment.

Vnesheconombank actively interacted with Russia’s Ministry of Economic Development, Ministry of Industry and Trade, Ministry of Finance and Ministry of Justice within the framework of the Interagency Working Group on adjustment of the Russian legislation on financial support to exports to the OECD standards.

The Bank contributed to the preparation of the road map “Facilitation of Access to Foreign Markets and Support for Exports”. In 2013, Vnesheconombank became a member of the working group on development of the “Made in Russia” project of Russia’s Ministry of Industry and Trade that could help promote information and image support for exports.

Vnesheconombank’s initiative on engaging in project work in the context of Russia’s participation in International Development Assistance (IDA) organization was fully supported by Russia’s Ministry of Foreign Affairs and the respective subordinate organization – Rossotrudnichestvo. The Bank and Rossotrudnichestvo prepared for signing an Agreement on interaction to ensure organizational and financial support for Russia’s participation in IDA.

Vnesheconombank participated in the work of the Council for International Cooperation in Geology and Subsoil Use under Russia’s Ministry of Mineral Resources and Environment to select promising projects of Russian companies abroad.

In the reporting year, Vnesheconombank’s representatives took part in the work of a number of structures under the auspices of public authorities including:

  • Open Government;
  • Public Council under Russia’s Ministry of Economic Development;
  • Working Group of Russia’s State Council;
  • Interagency Commission on Improving the Forecast for Scientific and Technological Development of the Russian Federation in the Long Term;
  • Government Commission on Promoting Sustainable Development of the Russian Federation in the Long Term;
  • Government Commission on Investment Projects of Regional and Interregional Importance;
  • PPP Expert Council of Russia’s Ministry of Transport;
  • Working Group on Russia’s Presidency of the Council of the Baltic Sea States under Russia’s Ministry of Foreign Affairs;
  • Working Group on Drafting a Federal Law on PPP under Russia’s Ministry of Economic Development.