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The Traditional Concert "Christmas On Ilyinka" Held At The Chamber's Congress Center15.01.2026On January 14, the traditional "Christmas on Ilyinka" celebration was held at the Congress Center of the Chamber of Commerce and Industry. For over two decades, the celebration has been organized by the Church of the Prophet Elijah at the Novgorod Metochion with the support of the Chamber and the Council of Veterans of the Russian Airborn Force.The concert was opened by the choir of the Church of the Prophet Elijah, who sang the troparion for the feast of the Nativity of Christ and the New Year.Archpriest Andrei Rechitsky, rector of the Church of the Prophet Elijah, congratulated everyone on the bright feast of the Nativity of Christ and the New Year. In his address, he emphasized the spiritual significance of Christmas as a manifestation of humble love and the need to remember the spiritual dimension of life amid the cares of the material world. The archpriest expressed hope that the coming year would be a time of peace and would serve the good of all people. On behalf of the Russian Chamber of Commerce and Industry, Sergei Katyrin, President of the Chamber of Commerce and Industry, welcomed the guests. He noted that this celebration had fostered a unique unity among the clergy, airborne troops, and the business community, allowing them to jointly defend the country's interests.The guests were also greeted by the Acting Commander of the Airborne Forces, Major General Alexander Kornev, and other distinguished guests.Oleg Gontsov of the Russian Association of Heroes presented the "Public Diplomacy Project: Afghanistan 2021–2025," outlining significant initiatives to preserve the memory of events and people.The celebration program included performances by creative groups. The "Spring Dance" studio at the Church of the Prophet Elijah, directed by Natalia Danilova, performed a waltz and a Bohemian polka. Saxophonist David Porfenov from the Frederic Chopin Moscow State College of Music Performance presented Isaac Albéniz's "Asturias" (accompanist Leila Porfenova).The central feature of the concert program was the Sretensky Monastery Youth Choir, a winner of national competitions, under the direction of Maria Chervyakova, a winner of national and international competitions and a professor at the A.G. Schnittke Moscow State Institute of Music. The choirmasters were Andrey Chervyakov and Anna Shamaeva.For many years, the "Christmas on Ilyinka" festival has brought together believers, military leaders, and business representatives, uniting them through shared spiritual values and patriotic service to the Fatherland. By Nikita Sidorov, Press Service of the Chamber
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The Russian-Syrian Business Council Held Meeting At Russian Chamber Of Commerce And Industry26.12.2025On December 25, a meeting of the Russian-Syrian Business Council, titled "Prospects for Restoring Trade and Economic Cooperation with Syria," was held at the Library of Russian Chamber of Commerce and Industry. In his opening remarks, Vladimir Padalko, Vice-President of the Russian Chamber of Commerce and Industry, identified the primary objective as reviving bilateral business cooperation with the Syrian Arab Republic. "We would like to revive our relations," he said. Vladimir Padalko recalled that in recent years, twenty-one large-scale humanitarian campaigns have been carried out in Syria under the motto "With Love from Russia," covering ten provinces of the country. He reported that 30,000 families received assistance. Nevertheless, he noted, the change of power in Syria has led to many agreements no longer being effective. Some are afraid to go to Syria, and it is not always clear with whom to do business or how to organize a system of mutual settlements. He emphasized that government assistance would be needed for businesses to return to Syria. "We are concerned about the freezing of relations and the non-return of foreign currency," noted the Vice President of the Russian Chamber of Commerce and Industry. "We are ready to engage in dialogue with the authorities, but we don't yet know how to do this or whether the previously signed agreements will be honored," he said.Vladimir Padalko proposed creating a large medical center in Syria, whose activities could be expanded throughout the country. He noted the importance of establishing permanent shipping and air links with Syria and emphasized the need for Russia to participate in industrial exhibitions. Vladimir Padalko named logistics, energy, agriculture, medicine, and charity as priority sectors. He particularly emphasized the need to transition trade to settlements in national currencies, which would significantly facilitate the lives of entrepreneurs.Abdulrazak Ismail, Chargé d'Affaires of the Syrian Arab Republic in the Russian Federation, who spoke at the meeting, noted the high level of political contacts between Russia and Syria that have developed recently.Timur Pechatkin, Deputy Director of the Middle East and North Africa Department at the Russian Ministry of Foreign Affairs, noted that efforts are being made to establish dialogue and that Syrian Foreign Minister Asaad al-Shibani recently visited Moscow for talks with Russian Foreign Minister Sergey Lavrov. He assessed that political dialogue between the two countries has been restored and that the government will provide assistance in establishing contacts between business circles.Olga Trofimova, Deputy Head of the Middle East and North Africa Department at the Department for Bilateral Cooperation Development at the Russian Ministry of Economic Development, emphasized that contacts with the Syrian side have become ongoing.The keynote address was delivered by Louay Youssef, Chairman of the Russian-Syrian Business Council, who outlined the results of business activity and the RSBC's activities.Vladimir Padalko invited the numerous Syrian participants (almost all of whom spoke Russian) to introduce themselves. Many of them discussed the challenges faced by entrepreneurs and offered suggestions on how to improve cooperation in various sectors, from banking to agricultural exports.Vice-President of the Russian Chamber of Commerce and Industry Vladimir Padalko proposed holding a separate conference at the Russian Chamber of Commerce and Industry for the Syrian business community in Russia in the first half of next year. He believes this will help renew relations across sectors from construction to logistics. He also noted that an inventory of the business council's membership base should be conducted. The Chamber's Vice-President proposed holding a business mission to Syria in the second half of the year, tying it in with a construction exhibition taking place in that country. By Peter Cheremushkin, Press Service of the Russian Chamber of Commerce and Industry
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The Chamber Hosted Meeting Of Russia-South Africa Business Council18.12.2025On December 17, the Russian Chamber of Commerce and Industry hosted a meeting of the Russia-South Africa Business Council, chaired by its head, Pavel Yakovlev, CEO of the Ural Automobile Plant. Representatives of South African and Russian companies, as well as Russian government agencies, participated in the meeting. Participants discussed cooperation between the two countries and developed plans for joint work by the business council.Vladimir Padalko, Vice President of the Russian Chamber of Commerce and Industry, addressed the meeting. "Cooperation with South Africa is one of the priority areas for the Russian Chamber of Commerce and Industry. Regarding bilateral trade, we have managed to reverse the negative trend, and trade turnover in 2025 is showing positive dynamics," noted Vladimir Padalko.According to him, strengthening contacts between the business communities of Russia and South Africa can contribute to the growth of bilateral trade. South Africa is a highly competitive and complex market, which requires systematic joint efforts to realize its potential. However, in all areas, we see good conditions for expanding cooperation with African partners, he added.Minister Plenipotentiary of the South African Embassy in Russia, Thandiwe Mgxwati, noted that relations between the two countries are strengthening across various economic sectors, including within BRICS."We intend to continue to promote business cooperation and trade between our countries, both bilaterally and within multilateral formats such as BRICS," said Thandiwe Mgxwati.In their speeches, the chairs of the Russian and African sections of the council, Pavel Yakovlev and Elias Monage, President of the Black Business Council, discussed the council's performance over the past year, its goals and objectives for 2026, and presented their proposals for developing bilateral cooperation.Following the meeting, the participants agreed to continue working to establish business contacts between Russia and South Africa and to combine the efforts of business organizations in both countries to establish close contacts between Russian and South African businessmen. The meeting was also addressed by Elena Mamontova, Head of the Southern Africa Department of the Department of Sub-Saharan African States at the Russian Ministry of Foreign Affairs; Petr Pavlenko, Russia's Trade Representative in South Africa; Zamani Letjane, Chairman of the Akani Properties Group; Fatima Kulova, Vice-President of the Resource Group; and Pitso Sekhoto, Chairman of the Remmoho Capital Investments Group. Department of External Relations
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Vladimir Padalko, Vice-President of The Chamber, Spoke at Plenary Session of XVI Russia-India Business Dialogue16.12.2025On December 16, Vladimir Padalko, Vice-President of The Chamber, spoke at the plenary session of the XVI Russia-India Business Dialogue, held at the press center of MIA Rossiya Segodnya. The event was organized by the Business Council for Cooperation with India, the Indian Business Alliance, the Government of Moscow, and Roscongress. The plenary session was dedicated to strengthening the strategic partnership between India and Russia in the context of a changing world order. Speakers addressed such aspects as resolving trade issues and seeking new opportunities; logistics and financial sustainability; industrial cooperation and import substitution; partnership in energy, technology, and innovation; and regional interaction. Vladimir Padalko, agreeing with the thesis about the enormous untapped potential of bilateral business cooperation, emphasized that the Russian business community faces essentially a threefold task in the Indian direction: significantly increasing knowledge about the specifics of working with India, strengthening and consolidating the interregional business agenda, and helping to eliminate the imbalance in mutual trade. The latter circumstance, in his opinion, acts as a certain constraining factor for intensifying the work of Indian businesses in Russia. The Vice-President of The Chamber reminded that effective communication with Indian partners requires patience, cultural adaptation, and a focus on long-term relationships from Russian companies. With the right approach, differences in business culture become not a barrier but a source of sustainable partnership. The success of Russian business in India, V. Padalko noted, is quite possible provided there is deep localization, cultural adaptation, a long-term strategy, and active institutional support, which The Chamber, the Business Council for Cooperation with India, and the Indian Business Alliance are ready to provide. Sergey Cheremin, Minister of the Moscow Government, Head of the Department of Foreign Economic and International Relations of the City of Moscow, Chairman of the Board of the Business Council for Cooperation with India, reported that in 2025, more than 50 significant events were held through the Business Council. According to him, the Moscow Government is ready to assist Indian businesses in localizing their production facilities in the city in such areas as mechanical engineering, instrument making, and electronics. Ambassador of India to the Russian Federation Mr. Vinay Kumar noted the high level of complementarity between the Russian and Indian economies, and therefore, in his opinion, the goal set by the leaders of both countries, V. Putin and N. Modi, to reach a mutual trade level of $100 billion by 2030 is more than achievable. The plenary session also featured speeches by Boris Titov, Special Representative of the President of the Russian Federation for Relations with International Organizations; Vladimir Platonov, President of the Moscow Chamber of Commerce and Industry; Taliya Minullina, Head of the Investment Development Agency of the Republic of Tatarstan; Igor Muraev, Deputy Chairman of the Government of the Arkhangelsk Region and Secretary of the State Council Commission of the Russian Federation on International Cooperation and Export; and others. Following the plenary session of the XVI Russia-India Business Dialogue, a meeting of the Board of the Business Council for Cooperation with India was held under the chairmanship of Sergey Cheremin, in which Vladimir Padalko participated. As the Deputy Head of The Chamber noted, Russian business as a whole, unfortunately, still underestimates Indian industry in terms of quality and reliability, although the time for such judgments should be in the past. Highly appreciating the activities of the Business Council for Cooperation with India in the outgoing year of 2025, he recommended that the Council continue its work to expand activities to Russian regions. In development of this, V. Padalko put forward an initiative to hold a special event of the Business Council at The Chamber with the involvement of the leadership of territorial chambers of commerce and industry, dedicated to building interaction with Indian states. The idea was supported by the Council's leadership. Dmitry Bystrov, Department of External Relations
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Sergey Katyrin Addressed the Russia–UAE Business Forum10.12.2025On December 10, Sergey Katyrin, President of the Chamber, addressed the plenary session "Architecture of Long-Term Growth: New Horizons for Russia-UAE Cooperation" as part of the First Russia-UAE Business Forum in Dubai. The Forum was organized by the Russia-UAE Business Council (RUBC) jointly with the Roscongress Foundation, with the support of the Ministry of Industry and Trade of the Russian Federation and the Marathon Investment Group. The event brought together heads of leading companies and investment funds from Russia and the UAE, relevant ministries from both countries, and technology startups. Sergey Katyrin informed session participants that the Chamber system in the Russian Federation includes approximately 55,000 member organizations and provides services to more than 300,000 companies annually. "The Chamber has conducted and continues to systematically conduct work aimed at strengthening and enhancing the level of trade, economic, and business cooperation between the Russian Federation and Middle Eastern countries. In this regard, we decided to open an Office of the Honorary Representative of the Chamber in Dubai, responsible for interaction with businesses in the Middle Eastern region," he said. The President of the Chamber also reported that the Russia-UAE Business Council was reformatted this year, with an updated leadership (Alexander Vinokurov, President of the Marathon Investment Group, was appointed Chairman), and the membership base was updated. Sergey Katyrin noted that in terms of foreign economic relations, Russia has long been connected with the UAE and other Middle Eastern countries through various commercial projects and long-term investment contracts. According to him, more than 4,000 companies with Russian participation are registered in the UAE, enabling them to operate both within the UAE and beyond. Russian companies are predominantly represented in the IT, development, retail, and legal services sectors. "Today's Forum is a clear signal to the UAE business community of our readiness and interest in developing mutually beneficial long-term cooperation across the entire spectrum of trade, economic, and investment relations," Katyrin added. The plenary session also featured speeches by Abdullah bin Touq Al Marri, UAE Minister of Economy and Tourism; Anton Alikhanov, Minister of Industry and Trade of the Russian Federation; Rustam Minnikhanov, Head of the Republic of Tatarstan; Sultan Ahmed Bin Sulayem, Group Chairman and CEO of DP World; and Vitaly Sergeychuk, Member of the Management Board of VTB Bank. Press Service of the Russian Chamber of Commerce and Industry
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Chamber President Sergey Katyrin and American Chamber of Commerce in Russia President Robert Agee Discussed 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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The US District Court Granted A Petition For Recognition Of Awards By The International Commercial Arbitration Court With The Russian Chamber of Commerce and Industry Against US Company, Citing The Need To Comply UN New York Convention20.01.2026The US District Court for the District of Columbia granted a petition for recognition and enforcement of three awards by the International Commercial Arbitration Court at the Russian Chamber of Commerce and Industry against a US company, citing the need to comply with the 1958 UN Convention on the Recognition and Enforcement of Foreign Arbitral Awards (New York Convention). This was announced by Vadim Chubarov, Vice-President of the Russian Chamber of Commerce and Industry.According to Chubarov, in 2024, a panel of arbitrators at the International Commercial Arbitration Court, consisting of representatives from Germany, the US, and Russia, issued three awards in favor of the Russian non-profit organization TV Novosti.After winning the cases in the ICAC, TV Novosti assigned its rights to Satori Agricultural Consultancy and Projects Management LLC (SCM) from the United Arab Emirates. Subsequently, TV Novosti was subject to personal sanctions by the United States, prohibiting the transfer of property located in the country without permission from the Office of Foreign Assets Control (OFAC).Considering that the defendant—the American company T&R Productions LLC—was duly notified of the proceedings but failed to ensure the appearance of its representative, the District Court for the District of Columbia issued a default judgment on January 8, 2026. The court granted the plaintiff's claims under all three ICAC arbitration awards for a total of $13,984,502, including interest on the outstanding balance to the date of the judgment.In considering the application for recognition and enforcement of ICAC awards, the American court relied on the provisions of the New York Convention, the US Federal Arbitration Act (FAA), and US case law on the recognition of foreign arbitral awards.As Chubarov noted, the court's conclusion that TV Novosti's placement under US personal sanctions does not constitute grounds for refusing to recognize and enforce the ICAC awards in this case is fundamentally important. The court noted that the sanctions were imposed following the transfer of rights to the UAE company, and the provisions of the New York Convention on public order are subject to a narrow interpretation and apply only in cases where an arbitral award "manifestly undermines the public interest, public confidence in the administration of justice, or the security of individual rights, freedoms, or private property."Even in the case of a hypothetical violation of the sanctions regime, as follows from the default judgment, US courts consistently assume that the New York Convention's public order clause is not intended to elevate "the vicissitudes of international politics" to the level of public order, and that there is a distinction between the US "public order" and its national political interests. According to the Vice President of the Russian Chamber of Commerce and Industry, this position is particularly significant in the context of the US commitment to the fundamental provisions of the 1958 New York Convention and contrasts with the approach of a number of EU courts, which interpret unilateral sanctions as an element of national public order, allowing for the suspension of enforcement of foreign arbitral awards, including individual ICAC awards.The Russian Chamber of Commerce and Industry will continue to clarify its position, which is similar to that of the US court and assumes a full interpretation of the provisions of the New York Convention, Chubarov emphasized.
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Sergey Katyrin Sees No Grounds For Force Majeure In Transactions With Venezuela15.01.2026There are currently no grounds for recognizing force majeure in foreign trade transactions with Venezuela, Sergei Katyrin, head of the Chamber of Commerce and Industry of the Russian Federation, told reporters."The chamber has the authority, granted to it by the country's government, to issue documents on force majeure. Recently, entrepreneurs have been contacting us asking whether there is force majeure in Venezuela. As of today, there are no circumstances that we could consider force majeure," he said.Katyrin emphasized that as the situation develops, an understanding of what restrictions may apply will develop.According to the Russian CCI, from the beginning of 2020 to date, approximately 2,000 force majeure certificates for foreign trade transactions have been issued to entrepreneurs within the chamber system. "A significant increase in foreign trade contract requests occurred in 2022 after the imposition of sanctions. Previously, a surge was recorded during the pandemic in 2020," the chamber noted. On January 3, US President Donald Trump announced a military operation in Caracas, which resulted in the capture of Venezuelan President Nicolás Maduro and his wife by US forces. On January 5, they appeared in federal court for the Southern District of New York. They are accused of involvement in drug trafficking. Maduro and his wife pleaded not guilty. Delcy Rodriguez, who served as Maduro's executive vice president, is acting head of state in Venezuela. Trump previously stated that the US would assume temporary control of Venezuela. Source: tass.ru
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Sergey Katyrin Evaluated The Status Of US Companies Working In Russia As Sustainable15.01.2026American companies that continued operating in Russia after 2022 are generally stable and demonstrating a pragmatic approach to doing business. Sergey Katyrin, President of the Chamber of Commerce and Industry of the Russian Federation, told RIA Novosti. "According to experts estimates, approximately 700 American companies were represented on the Russian market before the beginning of 2022. Currently, according to various estimates, approximately 40-50% of them continue to operate or provide services to businesses. This suggests that American businesses, focused on long-term economic efficiency, have managed to adapt to the new conditions and maintain their position in Russia, and are generally stable," he said. According to him, the greatest decline in presence occurred in the IT, telecommunications, and manufacturing sectors, while companies involved in local production, services, and the real sector of the economy, in some cases, continued to operate. At the same time, Katyrin noted that the departure of a significant number of American corporations from the Russian market resulted in significant financial losses for them. In particular, the Russian Direct Investment Fund estimated their lost profits at $300 billion, he recalled. "We will continue to proceed from the premise that developing business ties with foreign partners is in the interests of sustainable economic growth. Where there is mutual interest and economic feasibility, business will always find a way to cooperate," the head of the Chamber concluded. Source: ria.ru
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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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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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