Global Trade Alert

On 3 April 2015, the Russian Government (according to Resolution No. 593-p) has amended the existing Roadmap "Support of the access to foreign markets and export promotion".
Decree No. 593-p has introduced measures that have the purpose to increase the accessibility of financial services to exporters and targets export promotion. This report focuses on this important content.
 
Accessibility of financial services to exporters
Concretely, among the most essential measures that have the purpose to increase the accessibility of financial services to exporters (new points 16--31), are:

• improve the import of previously exported goods during their warranty and post warranty period
• accelerate the decision-making process for export financing
• create a system for prioritising of export projects that receive state financing
• create a mechanism for interest rate subsidisation of export credits by Eximbank of Russia.
• expansion of instruments for partial compensation of export-related expenditure

 
 Export promotion
Decree No. 593-p also introduces items that target the export promotion (points 43--51). The most important items are:

• stimulus of exports of hi-tech services
• provision of financial support for works, services and other expenditure in the countries that import Russian production
• creation of a system for support of certification on the external markets of Russian production
• simplified procedures for obtaining of a certificate of confirmation in countries of origin of goods which are regularly supplied
• creation of a mechanism for attraction of Russian producers in supplies of big export projects of Russian companies
• formulation of cases of admissible setting of higher prices of the same goods for Russian compared to foreign consumers for separate groups of goods
• creation of a system for monitoring of tax incomes, originating from producers that supply non-raw (here is meant products not related to oil, for example, which constitutes a considerable share of Russia's exports) goods on foreign markets. The purpose of this measure is to assess issues related to tax stimulus measures
• monitoring of statistical indicators, related to the export activity of small and medium enterprises.

The text of this GTA report reflects the main amendments introduced in the Roadmap with Resolution No. 593-p compared to the previous text of the Roadmap (Resolution No. 2148-p of 28 October 2014). The GTA only reflects this share of the amendments in the Roadmap that are likely to discriminate against foreign commercial interests.
 
The GTA includes state guarantees and other financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets, and from foreign subsidiaries.