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Chamber President Sergey Katyrin and American Chamber of Commerce in Russia President Robert Agee Discuss Business Cooperation09.12.2025On December 9, a meeting of the American-Russian Business Dialogue took place in Dubai (UAE), during which Sergey Katyrin, President of the Chamber, and Robert Agee, President of the American Chamber of Commerce in Russia, discussed the state and prospects of bilateral business cooperation. The event was organized by the Roscongress Foundation and the American Chamber of Commerce in Russia. The presidents of the chambers, who continue to maintain regular working contacts with each other in the current difficult geopolitical conditions, noted the importance of preserving stable channels of trade and economic cooperation. Sergey Katyrin and Robert Agee noted that, despite existing problems and non-economic obstacles, the business communities of Russia and the United States proceed from the necessity of maintaining professional dialogue. In the current difficult geopolitical situation, the heads of both chambers believe it is important to focus on discussing pragmatic aspects of cooperation prospects, which will serve as a stabilizing factor and an instrument for building mutual trust at the level of business circles, industry associations, and the expert community. The parties agreed to continue coordinating their work to facilitate the formation of a more favorable environment for Russian and American businesses, reduce risks, and strengthen business ties. Following the meeting, a joint statement was adopted. Participants also agreed to hold meetings of the American-Russian Dialogue on an annual basis. Press Service of the Russian Chamber of Commerce and Industry
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Business Mission to Cuba Led by Chamber President Sergey Katyrin Concludes Work03.12.2025The Russian delegation from the Chamber of Commerce and Industry of the Russian Federation, led by President Sergey Katyrin, has concluded its participation in a business mission held in Havana on the sidelines of the 41st Havana International Trade Fair (FIHAV). The mission included the ceremonial opening of the Russian exhibit. Speaking at the ceremony, Sergey Katyrin emphasized the importance of exhibition events for promoting Russian products and strengthening economic ties. "Major international exhibitions and congresses, such as FIHAV, act as a significant driver of mutual trade and investment. It is essential to continue the practice of Russian exhibitors participating in FIHAV and to count on more active participation by Cuban businesses in Expocentre exhibitions," he noted. The same day saw the Russian-Cuban Business Forum take place. According to the President of the Russian Chamber of Commerce and Industry, despite geopolitical challenges, economic cooperation continues to develop dynamically. "By the end of the first half of 2025, trade turnover between Russia and Cuba grew by 17%, and exports by 15.4%. Further progress is certainly possible. This requires improving financial mechanisms, expanding logistics routes, creating more favorable conditions for investors, and exploiting new opportunities associated with Cuba's accession to the BRICS partner states," Sergey Katyrin stated. The Forum discussed areas for further cooperation—agro-industrial complex, pharmaceuticals and medicine, industry and energy, digital technologies, transport, and tourism. Special attention was paid to the participation of Russian companies in Cuba's industrial modernization, including the restoration of the sugar industry and projects within the Mariel Special Economic Zone. During the visit to Cuba, Sergey Katyrin met with Antonio Luis Carricarte Corona, President of the Cuban Chamber of Commerce; Eloy Alvarez Martinez, Minister of Industry; and Oscar Pérez Oliva Fraga, Deputy Prime Minister and Minister of Foreign Trade and Investment. The negotiations focused on industrial cooperation, investment initiatives, logistics, and the development of direct interaction mechanisms. The business mission included representatives from the Chamber of Commerce and Industry system of the Russian Federation, as well as companies from the agro-industrial complex, medicine, pharmaceuticals, energy, IT, and tourism sectors. Press Service of the Russian Chamber of Commerce and Industry
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Delegation From The Chamber Headed By Vice-President Ilya Zubkov Continues Work At Russia-Thailand Investment Forum28.11.2025A delegation from the Russian Chamber of Commerce and Industry, led by Vice-President Ilya Zubkov, continues its work at the Russia-Thailand Investment Forum. On the second day of the Forum, November 27, Ilya Zubkov, Vice-President of the Russian Chamber of Commerce and Industry, met with Sasiwat Wongsinsawat, Ambassador of the Kingdom of Thailand to the Russian Federation, and M.R. Nongkran Chomphunut, Chairman of the Digital Council of Thailand. The parties discussed key topics of bilateral cooperation, collaboration within multilateral forums, and digital technology cooperation between Russia and Thailand. Ilya Zubkov, Vice-President of the Russian Chamber of Commerce and Industry, also participated in the Forbes Business Breakfast. By Russian Chamber of Commerce and Industry Press Service Department of Regional Cooperation
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In Phuket, Thailand, Delegation From The Chamber Led By Vice-President Ilya Zubkov Participated In The First Russia-Thailand Investment Forum26.11.2025On November 26, a delegation from the Russian Chamber of Commerce and Industry, led by Vice President Ilya Zubkov, took part in the plenary session of the first Russia-Thailand Investment Forum. The plenary session was devoted to investment issues: "Can the Russian-Thai partnership model become an example of a new model of cooperation?" The delegation included Denis Frantsuzov, Vice-President of the Chamber of Commerce and Industry; Vladimir Katenev, President of the St. Petersburg Chamber of Commerce and Industry; Alexey Belodurov, President of the Kursk Chamber of Commerce and Industry; and Andrey Shestakov, President of the Tula Chamber of Commerce and Industry. The session also featured Boris Titov, Tanita Sirisup, Alexey Gruzdev, Ivan Demchenko, Nongkran Chompunut, Alexander Stuglev, Kriengkrai Thiennukul, and Nikita Gusakov.Following the plenary session, Ilya Zubkov, Vice President of the Russian Chamber of Commerce and Industry, met with Alexey Gruzdev, Deputy Minister of Industry and Trade of the Russian Federation, to discuss areas of cooperation between the Russian Chamber of Commerce and Industry and the Ministry of Industry and Trade on the development of exhibition and trade fair activities outside the Russian Federation.Ilya Zubkov also met with Kriengkrai Thiennukul, Chairman of the Federation of Thai Industries (FTI), to discuss the implementation of joint investment projects. The second session, "Trade and Economic Cooperation between Russia and Thailand: Outlines of a New Infrastructure," was devoted to a discussion of persistent barriers to transactions, differences in tax regulations, and the challenges of integrating financial systems. The Russian-Thai Investment Forum is organized by the Russian-Thai Business Council, chaired by Ivan Demchenko, with the support of the Russian Export Center, the Moscow Government, the Roscongress Foundation, and the Chamber of Commerce and Industry of the Russian Federation. Key topics during the Forum's working days will be trade and economic cooperation between Russia and Thailand, as well as the investment potential of both countries. More than 40 discussion and practical sessions, grouped into 10 thematic areas, are planned. The Forum will feature an exhibition area for Russian and Thai companies, as well as startup pitch sessions with potential investors. Representatives of government authorities and development institutions from Russia and Thailand, heads of investment funds, and leading commercial companies will participate in the Forum. Press Service of the Chamber of Commerce and Industry of the Russian Federation
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President of The Chamber Sergey Katyrin Met Cuban Officials At His Visit To Havana26.11.2025On November 25, the multi-sector business mission of the Russian Chamber of Commerce and Industry to Cuba, led by Sergey Katyrin, President of the Chamber, continued its work. In the morning, Sergey Katyrin met with Antonio Luis Carricarte Corona, President of the Cuban Chamber of Commerce. The parties discussed the current state of business ties, the participation of Russian companies in Cuba's industrial development programs, and the expansion of direct contacts between the chambers. Negotiations followed with Eloy Alvarez Martinez, Cuban Minister of Industry, focusing on cooperation in industrial production, enterprise modernization, logistics, and joint high-tech projects. The day concluded with a meeting with Oscar Pérez Oliva Fraga, Deputy Prime Minister and Minister of Foreign Trade and Investment of Cuba. The discussion focused on opportunities to engage Russian companies in Cuban investment initiatives, participation in special development zones, and enhancing the resilience of trade chains. All events were held in a constructive atmosphere and confirmed a high level of mutual interest in expanding economic partnership. The Russian Chamber of Commerce and Industry's business mission to Cuba included Vladimir Strashko, CEO of PJSC WTC, and Maxim Fateev, CEO of JSC Expocentre, as well as the presidents of the chambers of commerce and industry of Moscow, the Ryazan region, and the Lipetsk region. The mission is represented by companies and organizations operating in the agro-industrial complex and agriculture, medicine and pharmaceuticals, energy, information technology, tourism, and other sectors. Vladimir Padalko, Vice President of the Russian Chamber of Commerce and Industry, is participating in the business mission. By Nail Shakhvaliyev, Press Service of the Russian Chamber of Commerce and Industry
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Cuba. Havana. Sergey Katyrin Opened Russian Exhibit At 41st Havana International Trade Fair (FIHAV)25.11.2025On November 24, the Russian exhibit at the 41st Havana International Trade Fair (FIHAV) was officially opened in Cuba. At the ceremony, Sergey Katyrin, President of the Russian Chamber of Commerce and Industry, delivered a welcoming address. He is visiting Havana as the head of a Chamber delegation participating in a multi-sector business mission.In his speech, the President of the Russian Chamber of Commerce and Industry emphasized the importance of exhibition events for promoting Russian products abroad."Major international exhibitions and congresses, such as FIHAV, act as a significant driver of mutual trade and investment. In this regard, we believe it is essential to continue the practice of Russian exhibitors participating in FIHAV. We also hope for more active participation by Cuban businesses in exhibitions held by Expocentre, the flagship of our exhibition industry," he noted. The next significant event on the delegation's Cuba itinerary was the Russian-Cuban Business Forum, organized with the support of the Russian Chamber of Commerce and Industry, the Russia-Cuba Business Council, and the National Council of the Cuban Economic Union (NC SESLA)."Despite current geopolitical challenges, we and our Cuban colleagues continue to make fairly confident progress on a number of tracks of the current trade, economic, and investment agenda. At the same time, we understand that the potential of our cooperation is still far from being fully realized," he noted.By the end of the first half of 2025, trade turnover between Russia and Cuba had grown by 17%, and exports by 15.4%. According to Sergey Katyrin, further progress is possible with the improvement of financial mechanisms, the expansion of logistics routes, improved conditions for investors, and the exploitation of new opportunities associated with Cuba's accession to the BRICS partner states.The Forum brought together companies from both countries representing various sectors with potential for developing trade, economic, and investment potential: agro-industrial complex, pharmaceuticals and medicine, industry and energy, digital technologies, logistics and transport, and tourism.The possibility of Russian companies participating in the modernization of Cuba's industry, including the restoration of the sugar industry, as well as in projects within the Mariel Free Economic Zone, was also discussed.On the same day, the President of the Russian Chamber of Commerce and Industry held a working meeting with Vladimir Koronelli, the Russian Ambassador to Cuba, during which they discussed current bilateral issues, focusing on problematic areas of bilateral cooperation.A working meeting was also held between the head of the Russian Chamber of Commerce and Industry and the Governor of the Ryazan Region, Pavel Malkov. A memorandum of cooperation was signed at the Ryazan Region stand between the regional Chamber of Commerce and Industry and the Cuban company Suchel Camacho. Press Service of the Russian Chamber of Commerce and Industry, Department of External Relations
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President Of The Chamber Sergey Katyrin Headed Business Mission To Cuba25.11.2025On November 24, a multi-sector business mission from the Russian Chamber of Commerce and Industry began its work in Havana. The delegation was led by Sergei Katyrin, President of the Russian Chamber of Commerce and Industry. The delegation included the heads of PJSC WTC and JSC Expocentre, as well as the presidents of the chambers of commerce and industry of Moscow, the Ryazan Region, and the Lipetsk Region. The mission included companies and organizations operating in the agro-industrial complex and agriculture, medicine and pharmaceuticals, energy, information technology, tourism, and other sectors. Key events on the program included participation in the opening ceremony of the 41st Havana International Fair and Exhibition (FIHAV), a Russian-Cuban business forum organized by the Russia-Cuba Business Council and the National Commission for Economic Co-operation and Development (NC SESLA), and a visit to investment infrastructure facilities, including the Mariel Free Economic Zone. Vice-President of the Russian Chamber of Commerce and Industry Vladimir Padalko is participating in the business mission. By Nail Shakhvaliev, Press Service of the Chamber
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Russia-Bahrain Business Council Meeting Held At The Russian Chamber of Commerce and Industry20.11.2025On November 19, a meeting of the Russia-Bahrain Business Council was held at the Russian Chamber of Commerce and Industry. Representatives of federal government agencies, the Embassy of the Kingdom of Bahrain, heads of Russian companies, experts, and members of the Russian Chamber of Commerce and Industry's industry business councils participated in the discussion.The meeting's moderator, Chairman of the Russia-Bahrain Business Council Rasul Botashev, emphasized that business ties between the two countries require systematic support and coordination."Russian companies and representatives of all partners are always welcome to contact both the embassy and the business council. This is a team effort. We see enormous potential for cooperation—in science, technology, industry, medicine, and education. Today, it is important not just to build contacts, but to build a long-term model of cooperation," he noted.Vice-President of the Chamber Vladimir Padalko opened the meeting, noting a noticeable increase in business activity by Russian companies in Bahrain."We see that Russian businesses have become more involved in Bahrain. We've already seen some encouraging results. Some companies haven't just agreed to cooperate, but are already working with Bahraini partners. This is even creating competition for access to Arab market segments through Bahrain. It's important for us to systematize this work, ensure it's structured and properly monitored. The Chamber of Commerce and Industry plays a key coordinating role here," said Vladimir Padalko.Ambassador Extraordinary and Plenipotentiary of the Kingdom of Bahrain to the Russian Federation Ahmed Abdulrahman Mahmoud Ismail Al-Saati conveyed greetings from the Kingdom's leadership and noted the constructive spirit of expanding cooperation."We are confident that our dialogue will lay the foundation for a new stage in the development of our relations. On behalf of the Bahraini leadership, I want to emphasize: we are open to cooperation with Russian companies in a wide range of sectors. Trade turnover is currently below our expectations, but we have a clear mandate to expand cooperation. I still remember His Majesty's words ten years ago: 'Russia has absolutely everything, and Bahrain needs everything.' This message remains relevant," the diplomat said.Russian State Duma Deputy Alexander Petrov emphasized the potential for pharmaceutical cooperation."The Kingdom of Bahrain could become a key platform for developing international patents for original pharmaceuticals and vaccines. This will allow them to be used not only in Russia but also promoted on global markets. Among the Persian Gulf countries, Bahrain is the most convenient location for pharmaceutical companies," he noted.Mikhail Ferapontov, Deputy Chairman of the Management Board of JSC Rosselkhozbank, reported on progress in establishing direct contacts between Russian and Bahraini banks."We had an excellent meeting, after which we made significant progress in building cooperation. I hope that we will soon be able to establish strong interbank ties. This will create an additional financial instrument for Russian companies entering the Bahraini market," he said. Other participants also spoke.At the end of the meeting, Rasul Botashev summarized the results, emphasizing the strategic nature of the dialogue."All of today's speeches demonstrate the enormous potential for cooperation. We will continue to work as a united team. It is important to remember the words of the King of Bahrain, spoken in Russia: our countries can and must expand cooperation in all areas," he emphasized. By Nail Shakhvaliyev, Press Service of the Russian Chamber of Commerce and Industry
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In Moscow Sergey Katyrin Met Ren Hongbin, President Of China Council For The Promotion of International Trade (CCPIIT)18.11.2025On November 17, the World Trade Center in Moscow hosted a meeting between Sergey Katyrin, President of the Russian Chamber of Commerce and Industry, and Ren Hongbin, President of the China Council for the Promotion of International Trade (CCPIIT), who was in Moscow to attend the Shanghai Cooperation Organization (SCO) Heads of Government Meeting.The Chinese guest, who heads the Russian Chamber of Commerce and Industry's main partner organization in China, congratulated Sergey Katyrin on his re-election as Chamber President at the recently held 9th Congress of the Russian Chamber of Commerce and Industry and wished him continued success in supporting the Russian business community over the next five years. He noted that the two organizations have enjoyed many years of close and productive cooperation for the benefit of businesses in both countries.Sergey Katyrin briefed Ren Hongbin on the key outcomes of the Russian Chamber of Commerce and Industry Congress and the Chamber's priority areas for 2026–2030, focusing on strengthening international cooperation and foreign economic activity. Sergey Katyrin noted that constructive cooperation has been developing between the Russian Chamber and the KCSMT in recent years, thanks to the active work of the external relations departments in Moscow and Beijing, as well as the external relations departments of the regional Chambers, and the representative offices of the KCSMT in Moscow and the Chamber's in Beijing and Shanghai.Sergey Katyrin expressed special gratitude to the Russian-Chinese Business Council (RCBC), whose Russian branch is headed by Gennady Timchenko and whose Chinese branch is headed by Ren Hongbin.Sergey Katyrin praised the KCSMT's contribution to joint work within the SCO Business Council, noting that in the new economic and geopolitical realities, trade, economic, and business cooperation are increasingly becoming a priority within this organization. The Russian side, the President of the Russian Chamber of Commerce and Industry emphasized, sees a steady increase in business interest in the SCO cooperation agenda and believes this has a positive impact on mutual trade turnover.Sergey Katyrin and Ren Hongbin agreed that China's visa waiver for Russian entrepreneurs, as well as Russia's planned reciprocal measures in the near future, will inevitably lead to a significant increase in business exchanges between representatives of Russian regions and Chinese provinces, as well as an increase in the number of business-related events. In this regard, the heads of the Russian Chamber of Commerce and Industry and the KCSMT agreed to develop measures to streamline and systematize such trips within their respective structures in order to improve their effectiveness and avoid potential overlaps.The heads of the Russian Chamber of Commerce and Industry's subsidiaries actively working with China on exhibitions, fairs, and commodity expertise—Expocentre JSC and SoyuzExpertiza ANO—delivered their presentations. Maxim Fateev, General Director of Expocentre JSC, discussed Russian-Chinese cooperation in the exhibition and trade fair industry, noting that Chinese businesses hold a strong leading position among international partners. Thus, while 169 Chinese companies participated in 19 Expocentre exhibition projects in 2022, 3,856 Chinese companies participated in 24 exhibitions in 2024.Marat Bimatov, General Director of the ANO SoyuzExpertiza of the Russian Chamber of Commerce and Industry, noted that the significant intensification of Russian-Chinese trade and economic cooperation has led to a significant expansion of bilateral cooperation in areas such as commodity inspection, examination, certification, testing, and product conformity assessment. China has been and remains a key priority for SoyuzExpertiza, he emphasized. The meeting was also attended by Yevgeny Markin, Executive Director of the Russian-Chinese Business Council, who expressed gratitude to Ren Hongbin for the long-standing constructive cooperation between the RCBC and the CCSMT.The parties also discussed a number of other issues on the bilateral and multilateral agenda. By Dmitriy Bystrov, Department of External Relations
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IX Congress Of The Chamber Of Commerce And Industry Of The Russian Federation. Sergey Katyrin Re-elected As Chamber's President For A Five-year Term13.11.2025On November 13, at the Central Trade Fair Center, during the second plenary session of the IX Congress of the Russian Chamber of Commerce and Industry, the Chamber's governing bodies and work program until 2030 were approved. Delegates unanimously re-elected Sergey Katyrin as President of the Russian Chamber of Commerce and Industry for a new five-year term. The membership of the Council of the Russian Chamber of Commerce and Industry was also approved: 81 members representing all federal districts, regional chambers of commerce and industry, as well as industry unions and business associations. The Congress also approved the proposed composition of the Council. The Board of the Russian Chamber of Commerce and Industry was elected, consisting of 21 members: 15 were elected by Congress delegates, and six more will join the Board ex officio following the appointment of the Chamber's vice presidents. Delegates unanimously supported the proposed composition of the Audit Commission. Following four key discussion sessions held at the Congress and dedicated to strategic areas for the development of the economy, business, and the country's foreign economic relations, Vladimir Katenev, President of the St. Petersburg Chamber of Commerce and Industry Union; Vladimir Gamza, Chairman of the RF CCI Council for Financial, Industrial, and Investment Policy; Sergey Bashkatov, Chairman of the RF CCI Council for the Development of Family Entrepreneurship; and Andrey Spartak, Chairman of the RF CCI Council for Foreign Economic Activity, presented their proposals. President Sergey Katyrin presented the Congress's resolution on the Chamber's activities since the VIII Congress. He proposed declaring the Chamber's performance in the reporting years satisfactory. The Congress also approved the report of the Chamber Audit Commission, which was also supported unanimously. By Naile Shakhvaliyev, Press Service of the Chamber
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The IXth Congress Of The Russian Chamber Of Commerce And Industry Is Taking Place In Moscow13.11.2025On November 13, the IXth Congress of the Chamber of Commerce and Industry of the Russian Federation is taking place at the Moscow Central Trade Center. It is the main event in the life of the country's largest business community, held every five years. Participating in the event are Chamber President Sergey Katyrin, representatives of federal and regional government bodies, heads of chambers of commerce and industry of the constituent entities of the Russian Federation, industry unions, associations, and business associations. "A total of 476 delegates are expected, including 385 representatives of regional chambers of commerce and industry," noted Katyrin. Two plenary sessions and four discussion panels will be held throughout the day. The first will focus on industrial and technological policy, including sovereignty and new business opportunities. The second will focus on export and international cooperation, and the development of new routes and markets. The third will discuss the role of small businesses as the foundation for sustainable regional development. The business program will conclude with a discussion of the development strategy for the chamber of commerce and industry system, its resources, and partnership opportunities. The Congress is expected to result in the approval of a new development course for the chambers of commerce and industry system and the adoption of resolutions reflecting the consolidated position of the business community. A live broadcast of the plenary sessions (at 10:00 and 14:30) is available below on the page or via the link >>>. Information on the preparations for the IX Congress of the Russian Chamber of Commerce and Industry, its conduct, and the results of its work will be posted on the Russian Chamber of Commerce and Industry's website. By Nail Shakhvaliev, Press Service of the Russian Chamber of Commerce and Industry
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Sergey Katyrin Evaluates Prospects For Trade Growth With Africa18.10.2025Russia and Africa could significantly increase their mutual trade by the end of the decade, reaching approximately $50 billion, Sergey Katyrin, head of the Russian Chamber of Commerce and Industry (CCI), told TASS. "Over the past five years, Russia's trade turnover with African countries has grown by more than 60% – from $16.8 billion to $27.7 billion. This is an impressive growth rate, and we are confident that by the end of the decade, this figure will reach approximately $50 billion," Katyrin said. He explained that this growth is primarily due to expanded supplies of food, mineral fertilizers, energy, as well as engineering and chemical products. Currently, areas related to agricultural technology, agricultural processing, logistics, and construction are actively developing. Katyrin also noted that the share of settlements in national currencies is increasing, making trade more resilient to external fluctuations. "We are seeing growing demand for Russian goods and technologies. The African market requires infrastructure in the areas of subsoil use, digitalization, nuclear and hydropower, and Russia has the experience and expertise to create it. This is the source of further growth—the transition to integrated industrial and technological projects," emphasized the head of the Russian Chamber of Commerce and Industry.According to him, the African continent today is not only the market of the future but also a zone of active economic growth. "Cooperation between our countries is developing confidently, despite external constraints. A special investment mechanism has been launched to support Russian companies operating on the African continent. We highly value the prospects for interaction between African institutions and BRICS, the EAEU, and the SCO. Of the world's 20 fastest-growing economies, 12 are in Africa—this is a compelling signal for investors," Katyrin added.The Russian auto industry could become a growth area for exports to Africa. Russia can offer its African partners not just cars, but comprehensive solutions, including spare parts and repairs, Sergei Katyrin, President of the Russian Chamber of Commerce and Industry (CCI), told RIA Novosti."The automotive sector could become a growth area for exports and industrial cooperation between Russia and Africa," he said.Sergey Katyrin noted the sustained interest of African countries in Russian automotive products. "GAZ is already represented in Morocco through dozens of dealerships, and KAMAZ is negotiating localized production with several African countries," the agency's source noted.The head of the Chamber added that the development of local assembly will be a priority: such projects reduce logistics costs, create jobs, and offer vehicles adapted to local operating conditions."Russia is ready to offer not just cars, but comprehensive solutions—trucks, vans, minibuses, and SUVs with a high degree of durability, the ability to be repaired in difficult conditions, and readily available spare parts," Katyrin concluded.
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Sergey Katyrin: Increase In Labor Migration From India To Russia Is A Response To An Objective Labor Shortage23.09.2025The increase in labor migration from India is a response to an objective labor shortage, primarily in construction and the service sector (restaurants, retail, cleaning, and maintenance companies). This is an advantage for businesses, as it helps fill labor shortages and ensure timely contract fulfillment. For the workers themselves, it's also an opportunity: wages in Russia are one and a half times higher than in their home countries. However, this process also has its downsides. This concerns not only competition in the low- and semi-skilled labor market, but also social adaptation: it's necessary to build systems for language training, cultural integration, and monitoring of working conditions. This trend is likely to continue in 2026. Businesses will continue to seek people where they can be found. Russia has traditionally relied on migration from CIS countries—Uzbekistan, Tajikistan, and Kyrgyzstan. These flows will remain significant, but their resources are limited: competition for labor is intensifying within these countries, and the markets of Turkey and the Middle East are increasingly becoming involved. Southeast Asian countries such as Vietnam, Bangladesh, and Nepal have potential. Their demographic base allows for the formation of large groups of migrant workers willing to sign long-term contracts. These destinations are attractive to Russia, but require the creation of more transparent recruitment and onboarding channels. However, I believe it's also important to consider that relying solely on foreign workers hinders the development of mechanisms for increasing labor productivity and automation. For Russia, it's crucial to combine the attraction of migrants with programs for training its own workforce and implementing new technologies. For Background The flow of Indian labor migrants to Russia has increased sharply, increasing by almost 25% compared to the previous year. In the construction and service sectors, they earn salaries that are, on average, 60% higher than in their home countries. The 2025 quota for Indians has reached 71,800 out of a total quota of 234,900, due to a severe labor shortage.
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Sergey Katyrin: US Import Duties On Russia Will Cause Boomerang Effect And Damage American Economy16.07.2025The introduction of duties on Russia and its trading partners by the United States will cause a boomerang effect and will primarily damage the American economy itself. This opinion was expressed to TASS by the head of the Chamber of Commerce and Industry of the Russian Federation Sergey Katyrin. Earlier, US President Donald Trump said that the Washington administration intends to introduce import duties of about 100% on Russia and its trading partners if Moscow and Washington do not agree on a settlement in Ukraine within 50 days."If such measures are actually implemented, they will boomerang on the American economy itself. The consequences will be felt by both consumers and producers tied to supplies from countries against which restrictions may be imposed. We have already seen how such steps lead to higher prices, disruptions in logistics and a narrowing of the choice of goods on the US market," he noted.According to the head of the Chamber of Commerce and Industry, these measures will not significantly affect the economic stability of Russia, which in recent years has built strong ties with a broad coalition of partners from the CIS, Asia, Africa and Latin America."Our exports are sufficiently diversified, and the domestic production base is developing. Therefore, politically motivated duties are more likely to demonstrate a crisis of confidence in the global trading system than to cause serious damage to our economy," emphasized Sergei Katyrin. Source: tass.ru
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Vice-President Of Chamber Yelena Dybova: Russia Can Ensure Breakthrough In Agricultural Exports If Three Conditions Are Met01.07.2025Russian agricultural exports, which reached $44.5 billion in 2024 with a 5% increase compared to the previous year, are demonstrating stable positive dynamics, but these figures hide serious structural problems that require immediate solutions. This was reported by Vice President of the Chamber of Commerce and Industry of the Russian Federation Yelena Dybova.“The main problem is that 70% of our exports are raw materials - grain, oil, fish, while deep processing products account for less than 10%, which is significantly lower than the indicators of our competitors such as Brazil and the EU, where this figure exceeds 30%,” she notes.The key factors limiting the development of the industry are the congestion of the Black Sea ports and high railway tariffs, technological dependence on imported seeds and equipment, as well as unaffordable credit rates for many producers, which are 2-3 times higher than those of foreign competitors.To ensure a qualitative breakthrough in agricultural exports, it is necessary to focus on three main areas, Dybova believes."Firstly, it is critically important to focus on deep processing of agricultural raw materials, which requires an urgent revision of the List of high-tech products with the inclusion of at least 40 new items proposed by the National Union of Exporters," she said.Secondly, the vice-president of the Russian Chamber of Commerce and Industry continued, it is necessary to develop the direction of "green" exports, including organic products, where Russia is still significantly behind (there are only 242 producers in the register), and regional brands, out of 380 registered geographical indications and names of places of origin of goods, only a few are actively promoted. Here it is worth adopting the experience of France, where hundreds of millions of euros are allocated to support geographical indications, and creating a similar program with the participation of the Russian Export Center, the expert believes.Thirdly, according to her, a radical improvement of the logistics infrastructure is required through the development of the North-South corridor, the Far Eastern cluster, increasing the capacity of the Northern Sea Route and increasing subsidies for transport costs."To implement these areas, it is necessary to adopt a set of support measures, including financial (reducing interest rates for processors to 5-7% and expanding the practice of settlements in rubles and yuan), infrastructural (modernization of 30-40% of grain storage facilities and construction of new port facilities) and regulatory (simplification of certification for Asian and Middle Eastern markets and the creation of a "green corridor" for exporters)," Dybova listed.If the current dynamics are maintained, there is a possibility of reaching an export volume of 60 billion dollars by 2030. But to do this, it is necessary to increase the share of processed products to 25%, develop 5-7 new markets in Africa and South Asia, and reduce logistics costs by 15-20%, otherwise there is a risk of remaining in the role of a raw materials appendage, despite all the current successes."The RF CCI, headed by its president Sergei Katyrin, is participating in the preparation of comprehensive proposals for solving these strategic tasks. These initiatives are not just recommendations, but the preparation of a specific roadmap that will allow Russia not only to maintain, but also to strengthen its leadership position in the global agri-food market in the context of increasing international competition and sanctions pressure," Dybova added. Source: kapital-rus.ru
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Katyrin: Primakov's Ideas Remain Relevant Today In Conditions Of Global Turbulence26.06.2025The ideas and approaches of Yevgeny Primakov to foreign policy and economics continue to play an important role in the modern international agenda. This was stated by the President of the Chamber of Commerce and Industry of the Russian Federation Sergey Katyrin in a special column "Opinions" published in the "Rossiyskaya Gazeta" on the occasion of Yevgeny Primakov's memorial day. "Ten years have passed since Yevgeny Maksimovich is no longer with us, but his approaches remain alive and in demand. He did not simply analyze what was happening - he formed decisions that stand the test of time. The model proposed by Primakov - from the idea of a multipolar world to pragmatic economic diplomacy - continues to be relevant even in conditions of high international instability," the President of the Chamber emphasized.Sergey Katyrin recalled that Primakov headed the Chamber of Commerce and Industry in the early 2000s, during the period when the main institutions of economic interaction were being formed. During his decade of leadership, the Chamber has become an even more influential and respected organization, capable of defending the interests of business at the national and international levels.On Primakov's initiative, a sustainable mechanism for the participation of the RF CCI in legislative work was developed, which is still in effect today. Under him, the formation of a system of bilateral business councils began - an instrument that gave a new impetus to foreign economic cooperation of businesses. Now there are 76 such councils, and they continue to work effectively, despite the limited political dialogue with a number of countries.Primakov paid special attention to the more active development of the regional network of chambers. He emphasized that support for entrepreneurship is impossible without strong and active representatives in the constituent entities of the Russian Federation. It was with his participation that systematic work was launched to strengthen the role of regional chambers as centers of business life on the ground - with competencies, authority and the right to vote in the regional agenda."He was not just a leader - he was a man of strategic thinking, with deep personal responsibility to the country. He knew how to unite a team, charged with an idea, inspired with deeds, and not just words. For the entire CCI system, his approach remains a benchmark. We continue his work, relying on the foundation he created," Katyrin added. Yevgeny Primakov (1929-2015) - Russian and Soviet statesman, diplomat, scientist, academician of the USSR Academy of Sciences. In different years, headed the Foreign Intelligence Service, the Ministry of Foreign Affairs of Russia, the Government of the Russian Federation. From 2001 to 2011 - President of the Chamber of Trade and Commerce of the Russian Federation.
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Sergey Katyrin: Special Site to Be Created in the United Arab Emirates to Solve BRICS Transport and Logistics Problems10.07.2024This fall, within the framework of BRICS, it is planned to create a separate working group to regulate transport and logistics tasks among the member countries of the association. The President of the Chamber of Commerce and Industry (CCI) of the Russian Federation, Sergey Katyrin, stated this in the FederalPress open studio at the INNOPROM-2024 exhibition.“We are moving transport and logistics into a separate working group. We will approve it in the fall,” he said.According to Katyrin, all national parts of the BRICS Business Council and the Ministries of Transport of the member states supported the initiative to create a permanent platform in the United Arab Emirates for resolving issues in the transport and logistics industry.“We hope that we will implement this part as well,” he added.Currently, the key task of BRICS is to fully register 5 new countries as permanent members of BRICS business councils.BRICS includes Brazil, Russia, India, China, South Africa, Egypt, Iran, United Arab Emirates (UAE), Ethiopia. Applications from Algeria, Bangladesh, Venezuela, Belarus and Pakistan, Thailand and Malaysia are being considered. They actively participate in the work of the Vietnam Association. In total, more than 30 countries are planning to join this association.
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Head of Russian Chamber of Commerce and Industry, Sergey Katyrin, Told Tatar-Inform What Hinders Cooperation With Islamic Сountries15.05.2024The head of the Russian Chamber of Commerce and Industry, Sergey Katyrin, told Tatar-inform what hinders cooperation with Islamic countries. “The first is the issue of mutual payments, they are quite complicated. I can’t say that with absolutely everyone, but with a number of countries, yes. In particular, secondary sanctions put pressure on Turkey and some of our other colleagues. There are problems here, of course. We won’t hide it, this is a well-known fact,” Katyrin answered a question from Tatar-inform. These issues, in particular, are being worked on by the Russian Government, business structures, the Central Bank, etc. Issues are resolved on an individual basis, for example, Russia continues cooperation with Turkey in the field of trade, Katyrin noted. “The second is logistics. Now we have to bypass Europe with a number of prohibitions that exist in sanctions. There seem to be more than 20 thousand sanctions already, no one even counts them anymore. We simply proceed from the situation and think about how to solve this. This, of course, is the construction of North-South transport corridors and others necessary for the mutual delivery of goods,” said the head of the Russian Chamber of Commerce and Industry. The third challenge to overcome concerns the use of national currencies and digital assets. The head of the Russian Chamber of Commerce and Industry, Sergei Katyrin, arrived in Kazan to participate in the International Forum and Exhibition of Chambers of Commerce and Industry as part of the XV International Economic Forum “Russia - Islamic World: KazanForum”. This event will take place in the capital of Tatarstan on May 19. The main program of the forum began today. A total of 125 thematic sessions will be organized in 12 different areas - the detailed program can be found on the website of the international event. KazanForum has been held in Tatarstan annually since 2009. By decision of Russian President Vladimir Putin, the event received federal status from 2023. Dinara Prokopyeva Source: www.tatar-inform.ru
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Sergey Katyrin Predicts Partial Reorientation of Russian Business from Turkish Markets02.02.2024Hardships in Russia's financial settlements with Turkey, which arose due to Washington's pressure on Ankara, could lead to a reduction in bilateral trade turnover and a partial reorientation of the Russian Federation to other markets, Sergei Katyrin, President of the Russian Chamber of Commerce and Industry, told RIA Novosti. A number of private banks in Turkey have closed accounts of Russian companies, due to unprecedented pressure from the United States in connection with sanctions, a source in the country's banking sector told RIA Novosti earlier on Thursday. “Difficulties in settlements with Turkey, which arose due to pressure on Ankara from Washington, could lead to a reduction in bilateral trade turnover and a partial reorientation to other markets, including China,” said the head of the Russian Chamber of Commerce and Industry. At the same time, he added that cooperation with China in the context of the situation in the Red Sea implies an increase in logistics costs due to an increase in the cost of shipping and insurance.“For the Russian market, the consequences may be the following: an increase in the cost of goods, delays in deliveries, a possible shortage of certain products due to the restructuring of global supply chains,” Katyrin noted.
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Vice President Padalko: BRICS Enlargement Is an Opportunity for Development of a New Bigger Market25.01.2024In an exclusive interview with TV BRICS, Vice President of the Chamber Vladimir Padalko spoke about how the expansion of BRICS, economic integration in the EAEU, SCO and other associations will affect the conditions for doing business in Russia and the economy as a whole.
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Africa Strives for a Balanced Relationship with Other Countries. What Will Russia Offer?13.01.2023The coming year should be a turning point in the development of Russia's economic relations with African countries. We have good prospects, but we will have to fight for a place under the African sun. We are not alone in appreciating the prospects of this continent. And not only appreciated, but set quite specific goals. At the US-Africa Leaders' Summit, which took place in mid-December, the White House clearly outlined a course to strengthen the position of American business in African markets. So the competition of the world's leading economies for the inclusion of the continent in the orbit of their interests is intensifying. The recently popular thesis is becoming an axiom that Africa will determine the future - and not only of its people, but of the whole world. From the point of view of economic development and the realization of national interests, it becomes a very specific call for the leading world powers to intensify their actions on the continent. Indeed, Africa today is a young, dynamically developing market, a continent that contains up to 30% of the world's mineral reserves, which are critical for the development of modern industry and high technology. According to experts, by 2050, 25% of the world's population will live there, and the volume of the consumer market will be $16 trillion. So the importance of Africa for world trade and investment will only increase in the foreseeable future. Against the backdrop of expert forecasts, the US-Africa summit, in a sense, launched the implementation of the US Strategy for Sub-Saharan Africa, adopted in August 2022. It just determines the goals of strengthening economic cooperation. Including in very sensitive promising areas - in energy, healthcare, agriculture, finance, infrastructure and communication technologies. In general, the adoption of the strategy and the assessment of the preliminary results of the last summit indicate that the United States is returning to Africa in earnest and for a long time. And they are not going to just hand over their positions to their opponents there. During the business forum, which was attended by representatives of about 300 American and African companies, trade deals totaling $15 billion were concluded. And other countries - China, Turkey, Japan - periodically hold their summits on cooperation with Africa. And Africa itself, in terms of building foreign policy, is no longer the same continent as it was 20 years ago. Despite all the interest in developing foreign trade and attracting foreign investment in the economy, most African countries are striving to build balanced relations with partners. And they want to avoid the negative consequences of major power rivalry. According to Western experts, the current African leaders recall with concern the times of the Cold War, when the confrontation in Africa on the principle of "us or them" in the long run did not contribute to economic integration and building a common market on the continent. Now about the main thing for us. What will Russia offer in response to all these Napoleonic economic plans? Today our trade with Africa is $18 billion. We have something to focus on and draw conclusions, developing strategies. For example, China's trade with African countries is almost 260 billion, the US - just over 60 billion dollars. Of course, we need non-standard and non-sanctioned flexible mechanisms to promote investment and trade with African countries. It is necessary to step up work with African countries on specific projects. Clearly define your competitive advantages in areas in key sectors of the economy. And around them to develop a system of priorities, support measures, promotion. At the same time, you should soberly assess your capabilities, taking into account high market competition. For example, American experts admit that in Africa, American companies cannot compete with Chinese firms in the construction of roads and bridges. They are offered to focus on cooperation in healthcare, financial technologies and renewable energy sources. It is here that the competitive advantages of American companies are valued especially highly. Maybe we should seize the initiative? At the same time, we need to intensify work on building a reliable infrastructure that will help level the existing problems associated with the disruption of transport and logistics chains, settlements on transactions, and restrictions on the access of our products to the markets. African partners should be encouraged to introduce systems of mutual settlements in national currencies and barter transactions. Develop preferential trade regimes, create free economic zones, industrial hubs. It is also important to more actively implement our plans to expand the network of trade representations in Africa, to open trading houses and Russian business support centers. Russian business circles, I know this for sure, are waiting for the concretization of plans and breakthrough decisions that, on the whole, will make it possible to realize the existing potential of trade and economic cooperation. I hope that by the end of next year it will be possible to confidently speak about a new qualitative level in the development of economic relations between our country and African states.
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The President of the Chamber On the Situation of Russian Business after the Departure of Foreign Companies09.01.2023Western sanctions have affected the work of most Russian enterprises, but about 25% of companies that have lost partners abroad have already found new ones. This was stated to RIA Novosti by the President of the Chamber of Commerce and Industry of Russia Sergey Katyrin. “We keep our finger on the pulse of business, first of all, of course, small and medium-sized ones as the most vulnerable. We are conducting a study called the Business Barometer of the Country, dedicated to the problems of entrepreneurs in the face of sanctions,” he said.“It turns out that the sanctions have had a noticeable impact on the work of more than 60% of those surveyed. At the same time, about 25% of companies that have lost partners abroad have found new ones,” the President of the Chamber added.However, nearly a third, he noted, were still looking for them, and they needed help. "For example, the Chamber recently organized a large business mission to Iran, 100 representatives of Russian companies took part in it," Katyrin said.At the same time, he pointed to the need to "accelerate the restructuring of the economy.""We need a monetary policy that takes into account the current realities. It is necessary to expand legislative support for entrepreneurship, help businesses find new foreign trade partners and consumers of our imports, and develop new supply chains," the head of the Chamber concluded.
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Sergey Katyrin Explained why Countries Aspire to BRICS16.11.2022Interest in the BRICS has increased dramatically in recent years. It can be said that a whole line of developing countries has formed, wishing to join this association of states. But how can we explain it? They are attracted by the alternative, said Sergey Katyrin, President of the Russian Chamber of Commerce and Industry, head of the Russian part of the BRICS Business Council, in an interview with the Novye Izvestia newspaper. The association, which today includes Brazil, Russia, India, China and South Africa, offers all-round cooperation for the free development of its members, as opposed to the dictates of the global political and economic agenda, which is being promoted with increasing difficulty by the United States today with the help of Western-oriented blocs. “Regarding dictatorship, these are not my words, it was written by Newsweek, but it's hard not to agree with such a statement,” Sergey Katyrin specified.According to the head of the Russian part of the organization’s Business Council, the development of comprehensive cooperation within the Russia-India-China “triangle”, which became the prototype of BRICS, was once suggested by Yevgeny Primakov, a politician, scientist who headed the Russian Chamber of Commerce and Industry for ten years. The Chamber actively promotes contacts between entrepreneurs from the BRICS countries, reduces administrative barriers, and implements joint projects, Sergey Katyrin stressed. He said that "the foundation of the organization in 2006, by the way, at the St. Petersburg International Economic Forum, caused, on the one hand, a certain skepticism, and on the other, noticeable dissatisfaction with the United States due to possible competition." "As the authority of the BRICS grows, the US will try to increase pressure on the countries participating in the association in order to maintain the title of the center of world civilization and the world economy that has been appropriated to itself," he said. Many states do not want to fit into such an American "system of behavior", and the BRICS provides such an opportunity, Sergey Katyrin explained. The purpose of creating the association is to promote the stable growth of the economies of the BRICS members, finance projects in the field of infrastructure and the organization as a whole, although the countries included in it have different economic potential, are characterized by a powerful developing economy and important resources for the whole world. The economic systems of the Commonwealth members have a huge impact on the world market, emphasizes the President of the Chamber of Commerce and Industry of the Russian Federation and cites the following data: the area of the current five countries of the organization is about 30 percent of the entire land mass, almost half of the world's population lives in them. In terms of GDP, China is the first economy in the world, India is the third, and Russia is the sixth. Many scientists and politicians today call BRICS a "new force" and sometimes even compare it with NATO or the UN. “This is fundamentally wrong,” explains Sergey Katyrin. - BRICS is not a formal alliance. Our organization has no headquarters, we have nothing to do with military agreements. BRICS does not have a charter and a permanent head, there is an annual rotation rule, when the work is coordinated by the next chair country. Members of the organization also have differences in geopolitical approaches. But this does not prevent work to strengthen economic and trade mechanisms outside the current Western framework. The participating countries observe equality and adhere to the principle of mutual respect. The leaders of the five states meet annually, and two dozen working groups have been created within the organization in various areas - agriculture, transport, energy, etc., they solve the issues raised at the next summit. BRICS has ambitious goals, including counteracting the global economic crisis, improving the quality of life of its population, the transition to high technology in all possible areas of life.Since 2015, the BRICS Development Bank has been operating - a kind of alternative to the IMF with a shareholder capital of $100 billion. The bank, Sergei Katyrin said, finances projects in the states of the association, naturally, and in Russia. Work is underway to create its own payment system BRICS Pay, which can be used in the participating countries. A pool of foreign exchange reserves of one hundred billion dollars has been created for use in unforeseen situations. The organization has a Network University with programs for masters, it works on the basis of universities of the participating countries. The creation of its own independent system of credit ratings is being discussed. This is necessary, if only because many well-known current rating agencies in their assessments are not exempt from political influence, which Russia has repeatedly seen from its own experience, said the President of the Russian Chamber of Commerce and Industry. The most promising solution here, according to Sergey Katyrin, is the creation of an Alliance of BRICS rating agencies, united by a common methodology. This will allow maintaining sovereignty in the regulation of credit ratings in each of the countries of the "five". “Here, in fact, is part of what the BRICS member countries are doing and what, I believe, is very attractive for many developing countries,” Sergey Katyrin noted. Applications for membership in the organization were filed by Argentina and Iran, just a few days ago - Algeria. Active interest in participation in BRICS.
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AmCham President Robert Agee: Business Should Not Be Drawn Into Politics29.10.2025In an interview with TASS, Robert Agee, President of the American Chamber of Commerce in Russia (AmCham Russia), shared his views on how cooperation between American and Russian businesses will develop, as well as whether we should expect a quick return of US companies to Russia. You've lived in Moscow for over 30 years and led the chamber through various challenging periods. In 2022, you declared that investment and trade were the "path to peace." Do you believe this strategy has been successful? How does your personal experience influence your approach to protecting the interests of American businesses in today's reality? Yes, in 2022, when companies began urgently leaving the Russian market, many corporate headquarters contacted us and asked our opinion on their exit. We explained that whether or not to leave was their decision, but the main risk was that they would lose market share, which, given the intense competition from Chinese companies, would be extremely difficult to regain. History has seen cases where, after sanctions, many companies left the countries targeted, and they were never able to regain their former market positions. In early 2025, you suggested that, under certain conditions, four or five American companies, primarily from the FMCG sector, could return to Russia. Has this assessment changed? What are the main questions companies are asking you today about returning or continuing to operate in Russia? Yes, we assume that some companies will return after a peace agreement is reached and sanctions are lifted. And then, the situation will likely develop as follows: the easiest return will be for those companies whose activities and industries are not subject to sanctions, and this is the true FMCG sector. Another issue is that not many companies in this sector have left the Russian market precisely because they are not subject to sanctions. But if we're talking about those companies that, having been subject to US sanctions, were unable to continue their operations, they will only be able to return once the sanctions are lifted from their specific sector. We hope that these sectors will include high-tech, energy equipment, aviation, and luxury goods. As for the main questions companies are currently addressing, they are, of course, the conditions for return to Russia. Not only must US sanctions be lifted, but the conditions Russia will impose must also be clear. In 2023, the Russian Chamber of Commerce and Industry and AmCham confirmed continued working collaboration. What strategic objectives in business relations between the two countries is this interaction aimed at this time? We believe it is crucial to create projects that foster collaboration between Russian and American businesses. Previous business models will likely no longer work, and new models of interaction need to be developed—these could include payments for technology, joint ventures, and contract manufacturing. Therefore, our current task, together with the Russian Chamber of Commerce and Industry, headed by Sergey Katyrin, is to develop such models and identify projects that could be of interest, for example, to Russian businesses seeking American partners and American businesses seeking to enter the Russian market. What role do you think business associations can play in fostering dialogue in the current complex international environment? What messages from business do you consider most important to convey to policymakers? I believe the key message that needs to be conveyed is that business should not be drawn into politics. We conducted our annual Pulse Survey among American companies continuing to operate in Russia. It turned out that American sanctions are the biggest hurdle for American companies (8 points), followed by Russian retaliatory measures (5 points), and a shared third place between labor shortages and the key interest rate. Accordingly, it turns out that nothing harms business more than political pressure. At the same time, we see that the Russian economy has adapted and is quite resilient, while sanctions harm businesses, particularly foreign businesses that remain in Russia and comply with the laws of their countries and, therefore, do not violate sanctions. TASS
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Sergey Katyrin Outlined Trends Of Russian Economy In Interview With "Business Investment Guide To Moscow"25.09.2025TODAY, TOPICS THAT CAUSED A WHIRLWIND OF DISCUSSIONS AT THE ST. PETERSBURG INTERNATIONAL ECONOMIC FORUM (SPIEF-2025) REMAIN A HOT-POTATO MATTER WIDELY DEBATABLE. FIRST OF ALL, THE FOCUS IS ON THE STATE OF PLAY OF THE NATIONAL ECONOMY IN RUSSIA: IS IT COOLING DOWN OR FREEZ- ING? SERGEY KATYRIN, PRESIDENT OF THE CHAMBER OF COMMERCE AND INDUSTRY OF THE RUSSIAN FEDERATION, PROVIDES THE INSIGHT IN AN EXCLUSIVE INTERVIEW WITH BM MOSCOW FORESIGHT. The economy, definitely, is not “freezing.” The Russian econ- omy and business in Russia proceed along the track of develop- ment; however, they go through a less dynamic phase, through the so-called “cooling” phase. Yet, as representatives of the gov- ernment assured during the SPIEF events, this state of affairs is “manageable” and “correct.” The main thing is that now there are no symptoms of hypothermia. To ensure economic development, of course, the existing interest rates on loans must be decreased. This should be exer- cised smoothly, gradually, but consistently. The optimal result of the Central Bank interest rate adjustment could be a reduc- tion to 12-15%. If business ends up being convinced that there is a solution to move in this direction, then it will inevitably invest into modernization and expansion of production capacity. At the current rate, entrepreneurs, on the contrary, complain that it is next to impossible to launch new investment projects. German Gref (Head of Sberbank) in his speech at SPIEF point- ed out to the fact that the volume and quality of investment pro- posals from companies that Sberbank is in position to support have significantly diminished. How can this be explained and for how long would this trend persist? No sense to worry about Sberbank, a large portfolio of ear- lier approved projects has been formed. The fact that entre- preneurs do not make new investment proposals is explained by the high rates. This trend cannot persist for a long time, because the country is on a mission of achieving technologi- cal sovereignty. Nevertheless, one should not expect a signif- icant surge in the number of new investment projects, just as one should not expect a radical rate cut. At the same time, in the current environment, it is quite possible to expect - especially since this is already happening - the expansion of partnerships and promotion of internation- al projects. We are dynamically moving forward along several lines at once: these are trails offered by the EAEU, the SCO, and the BRICS. The fundamental principles laid down in the foundation of all these international associations amount to mutual assistance and cooperation. Restrictions existing in one of the countries may be offset by their absence in anoth- er one, which, in return, could provide, for example, reduced customs duties. Ultimately, this is how a mutually beneficial relationship works. Is the return of foreign companies to the Russian market pri- marily a challenge for the business community or, if a special antimonopoly control mechanism is effective, it entails new op- portunities? First of all, there is no need to discuss mass return of foreign companies. Some large corporations, indeed, are considering a comeback, but there are no specific agreements yet. Certain difficulties for our entrepreneurs may arise, for example, when promoting new products. In the context of a high bank credit rate, it is challenging for domestic manufacturers to conduct large-scale advertising campaigns; international players have a wider choice of opportunities on this terrain. And yet, foreign companies cannot count on any privileges. Their return will be regulated at the legislative level: in addition to antitrust control, compensation, technology and equipment transfer will be taken into account. Domestic manufacturers, on the contrary, will continue to receive government support measures designed in recent years, such as the mechanism of a special investment contract (SPIC 2.0), subsidies for R&D, pref- erential loans from the Industrial Development Fund. Of course, after the return of foreign companies, competi- tion in the Russian market will escalate. Nevertheless, it will be much more difficult for the “returnees” to gain the upper hand in this competition. Presently, BRICS countries make transactions in national cur- rencies. What are the prospects for using digital currencies of central banks, for example, the digital yuan and the digital ruble? Although this topic is at the core of many discussions, if we make an overview of global practices, digital currencies of central banks are still rare: only Nigeria, Zimbabwe, Jamaica, and the Bahamas announced a full launch. The Russian Central Bank recently postponed the massive introduction of the digital ruble until September 1, 2026. I be- lieve that it is not unreasonable: if you launch the mechanism in a semi-working state of play, then there will be a threat to cross-border financial settlements and it might create repu- tational risks that the Russian economy cannot afford. I must say that our Chinese colleagues, like other BRICS countries, are also in no hurry. In the future, the digital ru- ble and the digital yuan can for sure become a key mech- anism for cross-border settlements: according to experts, their use will be cheaper than non-cash currency. Howev- er, it is necessary to move towards this goal only with full confidence in the high quality of technology and the safety of all participants. Can we expect the emergence of new investment platforms within the BRICS association? The creation of a platform for financial settlements and investments and the formation of a unified digital infrastruc- ture within the association is one of the unconditional pri- orities of the BRICS Business Council. The BRICS investment platform would provide additional GDP growth in developing economies, and would contribute to the expansion of settle- ments in national currencies. The economies of the BRICS countries are developing at an impressive pace - about 4.4% per year. Current financial mechanisms are no longer coping with such growth, so a single platform is critically required. By the way, this is openly stated not only by Russia, but also by other mem- bers of the association. We hope that in the time frame- work of the India’s presidency next year, it will be possible to organize more profound and consistent work within the council on this matter and, probably, arrive at a number of final decisions. How are Russian entrepreneurs exploring and entering the markets of the Global South and Global East? Currently, the main trading partner of Russia is China, which accounts for about a third of our trade turnover. About 10% of trade turnover falls on India and Turkey. The total share of friendly countries in Russian trade turnover exceeds 80%. Obviously, diversification of foreign economic activities is still on the agenda. We must not only look for new markets, but also demonstrate successful end results. This requires mature foreign trade and cooperation specialists who know the nuances of doing business in the chosen partner coun- tries: how to work with payment systems, how to organize logistics, and so on. The Chamber of Commerce and Industry is now participating in their professional training: we con- duct advanced training programs in conjunction with the REC Export School. When our companies enter the markets of the Global South and send their specialists there, our partners imme- diately react to this development and start energetically in- vesting in Russia. Moreover, today it is possible to invest in the Russian IT sector, and in renewable energy sources, and in pharmaceuticals and biotechnology. Finally, restrictions on the import of products opened up great opportunities for the domestic agro-industrial complex, no wonder Russian agriculture and food industry are also considered as promis- ing areas of doing business. The growth of investments, in turn, will become an addi- tional incentive for economic growth and stimulus for the ex- pansion into new markets. So everything is interconnected in this realm.
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Russian Chamber of Commerce & Industry opens office in Mumbai amid big interest of entrepreneurs in India ("The Economic Times")28.04.2024Russian Chamber of Commerce and Industry has opened its office in Mumbai to give a boost to the bilateral trade between Russia and India amid big number of Russian entrepreneurs seeking partners in the country. CCI President, Sergey Katyrin, who is currently heading a Russian delegation of entrepreneurs in India, inaugurated the new office by cutting the ceremonial ribbon alongside prominent Indian officials. "We are currently overwhelmed with requests from Russian entrepreneurs seeking partners in India. This opening (of the new office in Mumbai) doubles, and possibly even more, expands our opportunities for finding partners, organizing business missions, and participating in exhibitions, and congresses. It is of great significance for us," Katyrin said during the inauguration. Read more at:https://economictimes.indiatimes.com/news/economy/foreign-trade/russian-chamber-of-commerce-industry-opens-office-in-mumbai-amid-big-interest-of-entrepreneurs-in-india/articleshow/109600174.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
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Russia Ready To Bolster Ties With Ethiopia In Multifaceted Areas Of Cooperation: Senator Igor Morozov13.07.2023Addis Ababa, July 12, 2023 (FBC) – A preliminary session of the Second Russia-Africa Summit held in Addis Ababa on Wednesday in the presence of representatives of the government and the business community of the Russian Federation and Ethiopian dignitaries. In his opening remarks, Ambassador of the Russian Federation to Ethiopia, Evgeny Terekhin, stated that Russia attaches greater importance to its ties with Africa in the social, economic, cultural and humanitarian spheres. Russia played a significant role in supporting African nations when they struggled against colonialism, and the political and diplomatic relations with his country and countries of the continent has continued to be strengthened over the decades. “The political dialogue between the Russian Federation and African nations has not stopped for a single moment since the establishment of the traditional relations between the two sides,” he underscored. “We are committed to strengthen our traditional relations with African nations in economic technical areas based on principles of equality and mutual trust,” he said. “We are working to facilitate conditions that would enable us to employ national currencies of countries to expedite trade ties between African nations, he said.” Member of the Upper Chamber of the Federal Assembly and Chairman of the Coordinating Committee for Economic Cooperation with African Countries (AFROCOM), Igor Morozov, stated that Africa is a continent with a productive young population and immense resources, reiterating the commitment of his country to deepen cooperation with the country in a wide range of areas including trade, economy, science, education, digital technology, health and agriculture. AFROCOM has six offices in Africa including the one it opened last year in Addis Ababa, Igor Morozov said, adding that this shows how Russia is committed to expand trade and economic ties with the continent. “The west has been trying to sever the ties between Russia and Africa, but our relationship has thrived withstanding all challenges,” he noted. Regarding the bilateral relations between Ethiopia and Russia, the Senator stated that Russia will remain to be nation’s close partner in the diplomatic, political, cultural and humanitarian spheres. Russian companies are ready to participate in the Ethiopian economy in the fields of production and assembly of cars, tractors and other agricultural equipment, he said, pledging commitment to attract more other investments to the country. He also appreciated Ethiopia’s aspiration to join the BRICS bloc. Concerning cooperation in the science and education sectors, Senator Igor said ROSCOSMOS will share its immense experiences in the Space Science Aerospace Research fields with Ethiopia. Russia is also ready to establish a trade house in Addis Ababa as part of its ongoing activities to bolster economic and investment ties with Ethiopia and the continent Africa at large. He further expressed his confidence that the Second Russia-Africa Summit would serve as a good platform in strengthening comprehensive and equal cooperation between Russia and Africa countries. President of the Chamber of Commerce and Sectoral Associations of Ethiopia, Melaku Ezezew, for his part, said “this is the right time to tighten economic and cultural ties between Africa and Russia,” calling the upcoming Russia-Africa Summit a good opportunity in this regard. “Its cooperation with Russia in areas of science, trade and technology transfer is vital to Ethiopia so as to accelerate its economic growth and achieve development goals,” Melaku pointed out, affirming the commitment of the association in strengthening economic and investment partnership between the two sides. By Wondesen Aregahegn
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