Online negotiations were held between representatives of Russia and Armenia, which were attended by specialists from the Russian Export Center, Roseximbank, VTB Bank (Armenia), Rosselkhozbank, AKOR and the Soglasiye-Armenia organization.

The discussion touched upon the access of buyers in Armenia to cheap financing for the purchase of Russian goods.

As RF Trade Representative to Armenia Anna Donchenko said one of the main difficulties of Armenian small and medium businessmen is the financing of import, including the import of Russian goods.

As a solution, Dmitry Pavlov, a member of the Hermes Club of Russian Businessmen in Armenia, functioning under the Russian Trade Mission, suggested considering popularizing the mechanisms of financing Russian exports, which are based on Roseximbank, by issuing direct and cheap loans to the buyer through establishing an institute of foreign agent banks.

Such banks would be able to advise customers on the product, assess and discount the buyer's collateral for the loan, legally formalize the collateral, and in case of default on payments to Roseximbank, they would be able to collect the debt on their own. In the future, this format, according to Pavlov, can be scaled to all member countries of the Eurasian Economic Union. And other countries as well.

Following the negotiations, the representatives of Roseximbank and VTB (Armenia) declared their readiness to work out the issue on the development of financial support measures for small and medium enterprises in Armenia which purchase commodities from the Russian Federation.

Made in Russia // Made in Russia

Author: Ksenia Gustova