The Russian Export Center is a joint-stock company established as part of Vnesheconombank . It offers a specialised one-stop-shop for exporters, providing financial and non-financial support, and interacting with relevant ministries and agencies.
The establishment of the center was mandated by the Russian government, with the decision to institute the company taken by Vnesheconombank’s Supervisory Board on 13 April 2015.
The center was officially registered as a fully owned subsidiary of Vnesheconombank 21 April 2015.
With due consideration given to the strategic significance of the center, the Russian government designated the legal status of the center as a state export support institution in Federal Law No. 82-FZ dated 17 May 2007, “On the Bank for Development”.
On 29 June 2015, President Vladimir Putin signed a bill into law implementing the corresponding amendments to the legislation.
Following the confirmation of the center’s federal status, further work has been launched to formalise the center’s procedure for collaborating with the relevant federal executive bodies. This procedure is to be enshrined by a corresponding act of the Russian government.
As part of establishing the one-stop-shop service, the Russian Export Center will integrate the corporate aspect of Vnesheconombank Group organisations, with EXIAR and Eximbank of Russia to fall under the Center’s ownership.
Main functions of the center
The center has been established to provide a specialised service for exporters. Its areas of expertise include export transactions, providing consultations on issues related to exports, assistance in organising exports, and providing support related to export procedures.
Among other things, the center focuses on supporting requests made by exporters working with relevant ministries, agencies and government services.
In providing non-financial assistance, the center aims to coordinate the activities of Russian trade representative offices abroad in supporting export projects.
At this initial state of the center’s development, services are provided to exporters free of charge.