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Andrey Slepnev: REC is ready to mentor Russian exporters, investigating the African market

24 october 2019

Russian Export Center Group is ready to assist Russian companies, which are planning to enter the African market, Andrey Slepnev has stated at the Russian-Africa Forum, at the session dedicated to the experience with the Russian Industrial Zone in Egypt.

REC’s leader noted that the Russian companies often have a lack of information and experience to enter the new foreign markets, including those of Africa and the Middle East.

The only way to learn swimming is to go to the pool. It is also advisable to have a good coach. We claim that Russian Export Center can be that coach. Our Egyptian partners are also ready to help when it comes to the industrial zone in Egypt. But Russian companies must first decide to enter a new market 

Andrey Slepnev

The Russian Industrial Zone in Egypt will be created based on East Port Said facilities in the Suez economic zone. The zone offers tax and customs duties benefits, the possibility for complete repatriation of the revenue by the residents. As of September 30, 25 Russian companies signed framework agreements to participate in the industrial zone. Those are the companies producing everything from agricultural equipment to petrochemical products and turbines.

Speaking about the interest rates,  Slepnev recalled that there is a national project on international cooperation, which, in particular, provides for loan subsidizing. Exporters can count on loans at an absolutely competitive rate, including those in foreign currency, REC’s leader says.

We will support the projects developed in the Russian Industrial Zone. Our management company will constantly communicate with Russian enterprises. Russian Export Center will do its best to facilitate such projects. As for the banks,  they invest more willingly, when there is insurance from the Russian Agency for Export Credit and Investment Insurance (EXIAR, part of REC Group) as all risks are borne by the national export agency

Andrey Slepnev

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