Russian Export Center JSC (REC) is a State-owned development institute established by the Government to support the development of the non-commodity exports industry/sector. REC offers a wide range of financial and non-financial support tools to benefit the Russian exporters explore the foreign markets and build capacity in the global trade. REC also acts as a focal point for interaction with the relevant domestic ministries and agencies and cooperates with key industries and business players in Russia to improve the export conditions in Russia and help bypass trade barriers.
REC was established by the Federal Law No. 185-FZ dated June 29, 2015 “On Amendments to the Federal Law “On the Bank for Development” and Article 970 of Part 2 of the Civil Code of the Russian Federation”.
The Russian Export Center Group incorporates the Russian Agency for Export Credit and Investment Insurance (EXIAR JSC) and Eximbank of Russia JSC aiming to offer comprehensive integrated services to the export-oriented companies.
REC offers its services to all the exporters of non-commodities’ products, goods and services with no industry restrictions. REC aims at providing the exporting companies with continuous support from the proposal and planning phase all the way to the successful completion of the export contract and implementation and beyond – including the e-commerce channels.
Strategic Prospects of REC Group
International markets are highly volatile, and the development of non-commodities exports helps reduce the impact of this volatility on the development of the Russian economy.
The involvement and inclusion of new exporters to the external trade, and improving their competitiveness are the key factors for export growth. One of the biggest tasks of the Russian economy is to create a globally competitive system of and promote diverse export industries. The Russian Export Center Group is expected to become a pillar of the national export support and promotion system, offering financial and non-financial support tools to the Russian exporters.
