The Group fully met the targets set for 2016. Due to the successful integration of the REC Group, the company-level performance indicator in terms of exports supported was exceeded by 11% (USD 8.9 billion excluding the Yamal LNG deal), and in terms of exporters supported the performance indicator was exceeded by 155% (510 exporters supported). Customer satisfaction topped 82 points on a 100 point scale (exceeded the target by 2 points).

The financial branch of the REC Group provides insurance, loan and guarantee support to exporters and their contractors. The insurance support is provided by EXIAR, while Eximbank of Russia is in charge of the loan and guarantee support.

In 2016 the REC Group provided financial support to 275 exporters, 188 of which were new customers.

The insurance support included 263 contracts with a total insured amount of RUB 365.6 billion. The finance provided as part of loan and insurance support exceeded the target by 3%, amounting to RUB 36.2 billion.

As to priority industries for providing support, the share of REC’s support in total exports amounted to 73% for agricultural machinery, 64% for aircraft products, 30% for automobile industry products and 25% for railroad rolling stock.


exporters were supported financially by the REC Group in 2016


Insurance support (EXIAR)

The amount of insurance support provided by EXIAR in 2016 amounted to USD 8.7 billion, an increase of 32% compared to 2015. In 2016 the number of supported exporters grew by more than 50%; almost three quarters of them were EXIAR’s first-time customers.

In 2016 the Agency almost doubled its insurance capacity (maximum limit of insurance under its contracts).

As far as export-receiving macroregions are concerned, most of the exports supported by the Agency go to Western Europe. In total, in 2016 EXIAR supported the exports of Russian goods and services to 87 countries across the world.

The breakdown of the insurance capacity by industry shows that the Agency’s credit risk diversification policy adopted in 2015 has remained unchanged.


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Loan support (Eximbank of Russia)

In 2016 the Bank signed 128 loan agreements for a total of RUB 34.4 billion. As of 31 December 2016, the portfolio of export support loans amounted more than RUB 37.7 billion, a 84% increase as compared to the beginning of the year (as of 1 January 2016 the loan portfolio was RUB 20.6 billion).

In 2016 the amount of loans provided to support export projects reached RUB 36.2 billion, with 62% of the total amount accounting for loans provided to support high tech exports. The loan support was provided for 248 export contracts.

The portfolio of Eximbank of Russia includes various segments of export-oriented business. The largest three groups in the portfolio are chemical and related industries (20.3%), metal industry (19.5%) and automobile industry (15.7%).


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Support to smaller exporters

The financial branch of the REC Group has specific instruments to support smaller exporters (export credit insurance solutions for banks providing loans to smaller exporters, and export factoring insurance solutions) that address the biggest financial barrier to exporting — shortage of working capital.

In addition, there are plans to launch a pilot online insurance platform for small and medium enterprises.

The amount of exports by smaller exporters supported in 2016 was USD 172.8 million, a 60% increase as compared to 2015 (USD 105.3 million). The share of smaller exporters in total export transactions supported reached 44% in 2016 (vs 40% in 2015).


Non-financial support

In 2016 requests for non-financial support were filed by nearly 1,900 Russian companies from 79 regions of Russia (87% of them were SMEs)

The largest demand for non-financial support came from small regional companies that lack free resources and competencies to be active in foreign markets. More than 75% of the requests were from regional small and medium businesses. Less than one third of the requests came from Moscow and the Moscow Region.

Most requests for non-financial support were related to finding business partners (46%), internationalizing the goods intended for exports (17%), obtaining information and analytical materials (6%) and participating in business missions (6%).

The most popular non-financial services of those actually provided were finding a business partner (29%), services related to internalizing the goods intended for export (18%), providing information and analytical materials (10%) and facilitating participation in business missions (7%).

The majority of requests came from food manufacturers, agricultural sector and construction companies.



Foreign marketing

In 2016 the REC Group arranged 10 foreign business missions that were joined by more than 200 Russian exporters. The business missions went to Azerbaijan, Argentina, China, India, Iran, Kazakhstan, South Africa, Tajikistan, Turkmenistan and Vietnam.


With a view to promote the exports of agricultural and food products to the countries of the Asia-Pacific Region, the REC arranged two events as part of the Russian GastroWeeks series. The GastroWeeks were held in China (Beijing and Guangzhou) and Vietnam (Ho Shi Minh). The events in China gathered 70 Russian companies and more than 300 Chinese companies. Preliminary contracts and memorandums of intent worth a total of USD 10 million were signed in relation to goods produced by Russian companies. The Russian GastroWeek in Vietnam gathered 25 Russian companies and 60 Vietnamese businesses (including 12 leading retailer networks).

The Russian GastroWeek series have increased the visibility of Russian products in the target markets and offered an opportunity for the companies to start up a meaningful dialogue with potential foreign buyers. The companies that are best prepared for exporting have tended to sign contracts within several months of the events. The companies that are less prepared may use their experiences to increase their competencies and adjust their export strategies. In 2017 six events of the Russian GastroWeeks series will be held in India, UAE, China, Vietnam, Japan and Iran.

In addition, in 2016 the Group came up with the Roadshow concept, a new format of showcasing the possibilities and instruments offered by the REC Group abroad. The format features a series of meetings with the key players and potential contractors in the country, in particular the leading companies, banks and government agencies. The roadshows have already been piloted in Indonesia and Iran. The events helped make valuable business contacts and lay the foundation for future cooperation.

The REC Group has also arranged a series of events in Russia. In November 2016 the REC hosted the “Made in Russia” International Export Forum that gathered more than a thousand people, including exporters, public officers, and representatives of the business community, development institutions, foreign companies, as well as independent experts and journalists.

GastroWeek is a new format of business missions that is currently promoted by the REC. It provides an opportunity to showcase and taste the products and encourages direct contacts between manufacturers and foreign wholesale and distributor companies, retail networks and hospitality companies.
Russian exporters participated in 10 foreign business missions arranged by the REC in 2016


The REC has extensively used online tools to support the exporters. In 2016 a cooperation agreement was signed with Alibaba Group. Under the contract, Alibaba will be used as a platform to market Russian brands across all of its companies. As the result, the Tmall Global e-commerce platform (operated by Alibaba Group) launched a Russian pavilion. The pavilion provides access to the Chinese e-commerce platform for consumer goods manufacturers. The platform is visited by up to 12,000 users every day. In the first 4 month since its launch, the platform sold over 200,000 of Russian goods of different kinds. To increase the site traffic at Tmall Global, a targeted marketing campaign was launched in the Chinese messengers WeChat and Weibo in the reporting period. It is expected that the number of distribution partnership programs with international marketplaces will be increased to five.

REC has also provided consultation to exporters on the issues related to working with international e-commerce platforms. In addition, it launched an educational product “A guide on entering international e-commerce marketplaces”.


Internationalization and certification

The REC Group has put much effort into developing the support services related to internationalization and certification of Russian products. In 2016 the Group’s activities were centered on the following key areas:

  • Informing and providing consultation to exporters on the established mandatory requirements and conformity assessment procedures in the external markets;
  • Providing support in obtaining the conformity assessment certificates required for the Russian products to enter the stream of commerce;
  • Building a network of partners;
  • Issuing free sale certificates;
  • Acting as an agent in the provision of certification and homologation subsidies.

As of 31 December 2016, a total of 396 requests for internationalization and certification of export products was received. Most of the requests were related to exporting to the countries of the EU, the Gulf, Latin America, South East Asia, as well as to China and the US. In terms of sector breakdown, the largest part (more than 30%) of the requests came from food manufacturers.


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The REC Group provides international patenting services to the Russian exporters. The list of patenting services includes the following:

  • Consultation and recommendations on patent protection of products and technologies abroad;
  • Legal services related to intellectual property;
  • Preparation and analysis of licensing agreements;
  • Contractual relations between the employee and the employer (the sharing of rights to intellectual property);
  • Licensing of know-how;
  • Internal documentation of the company, etc.


Customs and logistics support

The non-financial export support provided by the REC Group includes customs support at all stages of the export cycle.

  • Assess compliance with the customs and tax legislation;
  • Prepare the documents required for obtaining a preliminary classification decision from the customs authority;
  • Assist in the preparation of documents required for obtaining a permit for processing of goods in the customs territory;
  • Assist in issues related to defining the country of origin and obtaining a “Made in Russia” label for the exported products;
  • Provide consultation on the method of the goods’ customs value calculation.
  • Assist in obtaining export authorization;
  • Provide consultation on preparing the shipping documents required for exports;
  • Facilitate effective application of duty relief for the goods exported from Russia, in particular, the use of specific customs procedures that would ensure that the goods qualify for duty relief.
  • Assist in preparing the package of documents required for the VAT refund.
  • Plan an optimal route, select logistics companies and customs brokers;
  • Provide consultation on the execution and completion of documents required for exports and customs clearance;
  • Provide consultations on transit insurance;
  • Estimation of freight-out costs;
  • Provide consultation on the completion of the export contract
  • Provide consultation on non-tariff regulatory measures applied by the customs authorities to shipments crossing the border;
  • Hold seminars for exporters on issues related to logistics and customs clearance.