Indian business missions to visit Russia’s Far East prior to EEF 2019, says Roscongress

Advisor to Russian President Anton Kobyakov and the Ambassador Extraordinary and Plenipotentiary of India to the Russian Federation Venkatesh Varma have met in Moscow to discuss preparations for the participation of the Indian delegation led by Prime Minister Narendra Modi in the 5th Eastern Economic Forum, which is to take place in Vladivostok on September 4-6, press service of Russia’s Roscongress Foundation, the organizer of the forum, said in a statement on Monday.

“To prepare for the participation in the EEF 2019 and to enhance Russian-Indian cooperation, the Prime Minister of India commissioned several business missions to the Far East consisting of Indian business and regional representatives. Up to five Indian state governors are to participate in the missions,” the statement said.

The parties also focused on discussing the Indian delegation’s participation format in the Eastern Economic Forum. “Specifically, leading entrepreneurs of the two countries are to hold the Russia-India business dialogue. Moreover, a national stand of India at the EEF site will present the economic, industrial, tourist and cultural potential of the country,” Roscongress said.

Further, the parties discussed the preparation of the 20th annual Russia-India summit that will take place in Vladivostok during the days of the Eastern Economic Forum.

“I am confident that the participation of Prime Minister is to bring the level of trade and investment cooperation between our countries in the Far Eastern region to a whole new level. India’s extensive and representative participation in the work of the Forum will contribute to closer cooperation between our countries, not only in the economic but also in the humanitarian area,” Anton Kobyakov was quoted as saying.

Russia to start supplies of civilian ships to Serbia

Russia and Serbia are holding talks on supplies of Russian civilian ships, the press service of the Industry and Trade Ministry said in a statement following a bilateral meeting between Minister Denis Manturov and Serbia’s Minister in charge of innovations and technological development Nenad Popovic as part of the GMIS summit.

“Currently, the issue of supplies of Russian civilian ships as well as the issue of Russian enterprises working on the upgrading of Serbia’s port infrastructure and privatization of existing enterprises are being addressed,” the statement said.

Manturov noted that the Russian side had invited their Serbian partners to cooperate within the framework of Russia’s industrial zones abroad, the press service said. “The zone in Egypt will be the first to be launched,” the ministry added.

The Global Manufacturing and Industrialization Summit GMIS-2019 is being held in Yekaterinburg on July 9-11. Roscongress Foundation is the organizer of the summit. TASS is general information partner and photo host agency.

Advisory Board on the exchange rate policy of the states will appear in the EAEU

On July 16, the Board of the Eurasian Economic Commission (EEC) addressed issues in the areas of customs and technical regulation, financial policy, trade, competition, digitalization, and the functioning of the internal market of the countries of the Eurasian Economic Union (EAEU).

The EEC Board approved the draft Agreement on the Consultative Council on the exchange rate policy of the EAEU states.

The document was developed on the basis of the provisions of the Treaty of the Union. It stipulates that the exchange rate policy is coordinated by a separate body, which consists of the heads of national (central) banks of the Union.

The draft agreement defines the tasks, functions, composition and powers of the Council, as well as the decision-making procedures. Among the tasks of the Council are the development and deepening of cooperation between national (central) banks on exchange rate policy issues, identifying potential sources of vulnerability and external shocks that can cause instability in the domestic foreign exchange markets and increase mutual fluctuations of national currencies and others.

The document will be sent to the countries of the Union for internal coordination.

India and Russia look into opportunity of making payments in national currencies

India and Russia are examining opportunity of making mutual payments in national currencies, Deputy National Security Adviser of India Pankaj Saran told reporters on Wednesday.

“This subject is now being discussed by the two governments and what governments have agreed on is that they will examine this possibility within their own systems. So that is the key position as of now,” Saran said. “They are looking into whether it is practical, whether it is feasible and whether the traders and the business community from both sides are agreeable to this,” he noted.

“I think at the moment this matter is still being examined at least in India and I presume on the Russian side. So we are at the stage of examining this possibility.”

Rosselkhoznadzor imposes restrictive measures against five enterprises of the Republic of Kazakhstan

Since June 2018, the Committee for Veterinary Control and Supervision of the Ministry of Agriculture of the Republic of Kazakhstan has imposed restrictions on a number of Russian enterprises based on the primary detection of food inconsistencies. This directly contradicts the Regulation on inspections of facilities and sampling of goods (products) subject to veterinary control (supervision), approved by the Decision of the Eurasian Economic Commission No. 94 dated October 09, 2014.

At the same time, there was a systematic failure of the Committee to provide the Rosselkhoznadzor with the materials necessary for conducting investigations into cases of release into circulation in the territory of the EAEU products in violation of established requirements. Kazakhstan also did not send answers to the appeals of the Rosselkhoznadzor on these issues, including the issue of lifting restrictions on Russian enterprises.

For today, the temporary restrictions imposed by the Republic of Kazakhstan on the supply of products from a number of Russian enterprises have not been canceled.

In this regard, the Rosselkhoznadzor is forced to introduce mirror measures and from July 15, 2019 imposes temporary restrictions on supplies to the Russian Federation of products produced by enterprises of the Republic of Kazakhstan:

  • Ust-Kamenogorsk Poultry Plant JSC (single detection of tetracycline antibiotics, Salmonella);
  • ADM Investment LLP (single identification of KMAFAnM, pathogenic microorganisms, including Salmonella);
  • Ordabasy-Kus LLP (single detection of pathogenic microorganisms, including Salmonella, enrofloxacin);
  • Paris Commune XX1 LLP (single detection of Listeria monocytogenes);
  • NPP Kazakh Osseter LLP (single detection of arsenic).

Source: Press Service of the Rosselkhoznadzor

Russia will consider the possibility to lift the ban on the supply of a number of goods from Ukraine

Prime Minister of Russia Dmitry Medvedev promised to consider the request of the leader of the Ukrainian party “Opposition Platform – For Life” Yuriy Boyko to unilaterally lift sanctions on certain Ukrainian goods.

“As for the ideas on individual product groups, you pass them on to us, we will consider them,” said the Russian Prime Minister at a meeting with Boyko and the head of the political council of the Opposition Platform.

Boyko made a proposal that the Russian Federation unilaterally lifted the ban on the supply of some Ukrainian goods, “which came under sanctions, which led to the fact that a number of enterprises were stopped and people lost jobs.” “We have prepared specific proposals for some objects, which we ask to consider in order to help some enterprises,” said Boyko. He clarified that we are talking about “the production of cardboard and paper industry and agricultural production.”

“These enterprises have traditionally worked with the Russian Federation, have consumers in Russia, are not critically important in terms of the imbalance of exports and imports,” Boyko said. According to the party leader, the unilateral lifting of sanctions on these goods by the Russian Federation could be “the first step and a step of goodwill.” “This would be very useful and would be a good signal for the economy of Ukraine,” believes Boyko.


Russian trade ministry signs special investment contracts with carmakers

The Russian Industry and Trade Ministry has signed special investment contracts (SPICs) with automobile companies Volkswagen, GM-Avtovaz, PSA, Volvo, Toyota and Avtotor, the ministry said in a statement.

“The SPICs that were signed will allow to attract over 100 billion rubles to the Russian economy in the form of private investment by the world’s leading automobile concerns and to localize the production of key elements: engines, transmissions and car control systems,” the statement quoted Russian Industry and Trade Minister Denis Manturov as saying.

According to the minister, the implementation of those contracts envisages both domestic supplies and exports of those products.

“As a result of implementing those projects, over 1,400 jobs in the high-tech sector will be created. The budgets of various levels will receive over 523 billion rubles,” Manturov said.

Turkmenistan, Russia to hold talks on trade and investment

Deputy Minister of Economic Development of Russia Mikhail Babich arrived in Ashgabat, Turkmenistan, Trend reports with reference to Turkmen Foreign Ministry.

The Russian delegation will participate in the seventh meeting of the high-level group on the support of trade and investment in the framework of the intergovernmental Turkmen-Russian Commission on Economic Cooperation.

During the meeting at the Foreign Ministry of Turkmenistan, the parties expressed their desire to continue further positive bilateral cooperation, taking into account the existing large potential for developing cooperation, reads the message.

There are about 190 companies with Russian capital in Turkmenistan including ARETI holding (formerly Itera), which has been operating in the country since 2009 on the basis of a production sharing agreement on the Turkmen sector of the Caspian Sea.

After a three-year break in 2019, Russia’s Gazprom resumed purchases of Turkmen gas. In addition, Russia and Turkmenistan are initiating cooperation in the Caspian Sea. In particular, it is planned to launch a freight line across the sea, which will connect Russian Makhachkala with the port of Turkmenbashi.

The two countries are exploring joint projects, activities of Russian companies in Turkmenistan, as well as prospects for cooperation in the industrial, construction, transport, oil and gas, gas chemical and electricity industries.

Cooperation issues in such important areas as the agro-industrial complex and the supply of agricultural equipment, construction, interaction among business structures and introduction of advanced technologies are also on the meeting agenda.

In recent years, Turkmenistan has been actively developing business relations with the subjects of Russia, including Tatarstan, the Sverdlovsk and Astrakhan regions and the city of St. Petersburg.

Georgia has no plans to give up trade with Russia — minister

Georgia has no plans to give up its trade with Russia, which accounts for 13% of the country’s exports, Minister of Economy and Sustainable Development Natia Turnava said at a meeting with farmers, winemakers and tourism industry businessmen in the eastern Georgian region of Kakheti.

“At present, the Georgian economy is fairly diversified, including thanks to our government’s efforts. Exports to Russia make up 13% of our [foreign] trade. Naturally, there are other countries to choose from, but should we give up those 13%? Of course, not. The economy, including exports, should grow and you should have a choice of trade with any country where, in your opinion, your goods will sell better,” Turnava was quoted as saying by the Channel One of the Georgian Public Broadcasting.

Russia’s is Georgia’s second biggest trade partner after Turkey. Between January and May, Georgia exported goods worth about $219 million to Russia. Russia’s exports to Georgia amounted to $350 million.

Russian President Vladimir Putin signed a decree to suspend direct flights to Georgia starting from July 8 after a series of anti-Russian protests, organized by the opposition. The protests, , which began on June 20 in Tbilisi, were sparked by an uproar over the Russian delegation’s participation in the 26th session of the Inter-parliamentary Assembly on Orthodoxy (IAO) and the fact that IAO President Sergei Gavrilov addressed the event’s participants from the parliament speaker’s seat.