Russian bid for the 25th World Energy Congress – St.Petersburg-2022

Russia is a global leader of every segment of the energy industry, which has a significant influence on the development of the global energy space. Our country has a vast scientific and technological potential, it is the world’s biggest producer and exporter of energy resources, and a principal guarantor of global energy security. The future architecture of the world energy sector and the condition of main energy markets of the planet depend on the stance of Russia and the condition of its fuel-and-energy sector.

Bidding Document Congress 2022 St.Petersburg

Manufacturing of Tivicay® in Moscow will be launched no later than May 2019

On May 24, 2018, GSK and Servier signed an agreement to launch the manufacturing of innovative HIV drug Tivicay® (INN: dolutegravir) in the production facility of Servier Rus pharmaceutical plant in Moscow.

Under the terms of agreement, the full-cycle manufacturing of finished dosage form will be launched no later than May 2019.

Dolutegravir is designed to treat HIV infection in combination with other antiretroviral drugs. It was approved for use in Russia in 2014 and, since 2018, was included in the list of vital and essential drugs.

The parties have already implemented the technology transfer, transfer of analytical methods, manufactured pilot batches, and conducted the required testing and relevant registration procedures. Regulatory approval of Servier Rus as a Russian production site for manufacturing the drug is expected to be completed in 2018.

The agreement is signed for 5 years, starting from the production of first commercial batches. The basic manufacturing plan established by the agreement provides for the output of one million packages with possibility of further increase, which will fully meet a demand for this drug in Russia.

SOURCE: https://gmpnews.net

Turnover between Russia and the UK rose by 21,9%

According to the Russian customs statistics, from January to March 2018 the turnover between Russia and the UK rose by 21,9% in comparison to the same period last year and reached $3,4 bn. The Russian export expanded by 26,2% and import increased by 12,5%. Growth of Russia’s non-resource export showed sustainable improvements – it rose twice (+145,0%).
The Russian export structure evidenced strong growth in [28-40] chemicals and rubber (+93,0%); [71] natural or cultured pearls, precious or semi-precious stones, precious metals (6 times); [72-83] metals and articles thereof (+47,4%).

Press-release The Food & Drink Expo 2018

Representatives of the Trade Delegation of Russia in the UK visited The Food & Drink Expo 2018 which took place on the 16-18th of April at the National Exhibition Centre in Birmingham. The Food & Drink Expo 2018 is the premier trade show in the UK offering an unparalleled meeting point for the entire food and drink community – a first up fixture in every food professional’s diary. Five shows covering the complete UK supply chain – Food & Drink Expo, Foodex, The Ingredients Show, National Convenience Show and Farm Shop & Deli Show.
Buyers and decision makers across the whole industry, from grocery, wholesale and speciality retail to foodservice, ingredients and manufacturing came together to uncover the hottest trends, latest product launches and the industry’s vision for the future.
In 2018 over 1500 producers, manufacturers and distributors presented a vast range of food and drink products, decisions and services for retailers as well as machines and equipment for food industry to more than 30 thousand attendees of the event.
This year for the first time the Russian pasta producer MAKFA has presented their products in the UK for the British and international community. MAKFA is the leading pasta brand in Russia with over 30% of the market. MAKFA occupies 3% of the global market and ranks fourth among the best pasta manufacturers in the world. MAKFA is committed to the dynamic trend of the United Kingdom that features the transition to health consciousness and exports a diverse range of ecofriendly and healthy groceries: durum wheat pasta, cereals, flourand flakes.
“This is the first time we showcase our portfolio at the distinguished FOOD AND DRINK exhibition. Our goal is to expand the offer in retail chains in the UK and increase our export footprint to other countries of the Western Europe. The mission of our company is to bring health to consumers through a healthy diet”,
MAKFA CCO Dmitry Meshkov comments.

Company Profile 2018_MAKFA

Roscongress Foundation and British Consulting Company SupplyFinder Lda Signed a Cooperation Agreement

On April, 24 the Russian Trade Delegation in the UK hosted a meeting between A.Stuglev, CEO of Roscongress Foundation and Lord Waverley, CEO of SupplyFinder on the occasion of signing an MoU on cooperation between two organisations.
Both sides discussed several issues concerning bilateral trade relations. It was noted that Russia and the UK should focus on SMEs cooperation development. A.Stuglev highlighted that Russian trade delegations contribute much to Russian export promotion as well as to bilateral relations with countries of presence as a whole. Both sides agreed to participate in RusTrade initiatives including business-forums and trade missions both in Russia and in the UK.
Lord Waverley’s b2b-project – SupplyFinder – is of an interest for Roscongress as an example of effective tool to boost bilateral trade between two countries.
Lord Waverley will be one of more than 50 British business captains on SPIEF-2018 (St.Petersburg, May, 24-26). The fourth Russian Small and Medium-Sized Enterprises Forum (SME Forum) will be held on 23 May 2018 in the lead of SPIEF-2018.

Russia Country Report Apr18 – April, 2018

Following weaker performance at the end of last year, the Russian economy appeared to get back to the track of slow growth in the first two months of this year. The engine of recovery seems to have shifted from last year’s primary production to a broader base, but the development is still shaky.

Retail sales rose by 2% y/y in January-February. This represented a slight slowdown from the end of last year, even if real wages rose by over 10% y/y. The spurt appears to have come largely from certain public sector wage hikes prescribed by president Putin back in 2012 released ahead of the presidential elections on March 18. Notably public sector wage hikes were limited and one-offs so they will not support consumption this year, usually a major economic driver.

Real incomes, however, still contracted by nearly 1% y/y, although the last year’s point of reference is raised by the RUB5,000 one-time pay-outs to most pensioners (if the pay-out is ignored, real incomes rose by 2.5% y/y).

In 2017, household consumption was an important driver of economic growth. Sberbank analysts expect it to continue growing 1-2 pp faster than GDP in the coming years, driven by a recovery in real disposable income and a reduction in inequality.

In contrast, growth in industrial output accelerated in the first two months of the year, mainly thanks to support from manufacturing.

Manufacturing recovered briskly in January-February, rising 3% y/y. Metal fabrication and the car industry were among the main growth drivers. Growth in output of extractive industries slowed to under 1%, with oil & gas production levels declining from a year earlier. Pipeline transmission volumes also fell, weighing on growth of the entire transport sector. Construction activity remained unchanged from a year earlier in January-February, mainly on strong growth in housing construction. And the outlook for agriculture is good. While Russia is unlikely to beat last year’s all time high record harvest result, it will probably bring in a big harvest above trend and should earn at least $20bn from grain exports again.

Politics remain fraught. At the end of March nearly 30 countries followed the UK in expelling over 100 Russian diplomats from their countries. Many countries assess Russia to be responsible for the nerve agent attack in England in early March. While the coordinated expulsion of diplomats sent a powerful political signal, Russian market reactions were limited. The ruble-dollar rate depreciated by 0.4% in the beginning of this week and the Moscow exchange’s RTS index fell by about 1%. In the same week as the expulsions were announced Russia raised $3.75bn on London’s capital market and German gave full construction permits to the Nord Stream II gas pipeline.

President Putin’s speech unveiled a very ambitious plan reform plan during his state of the nation speech on March 1. The President wants productivity growth to accelerate to 5% per year (since 2009, the average growth was only 1%) during next decade, the share of SMEs in GDP to go up to 40% (from current level of 20%), the number of people employed in SMEs to go up from 19mn to 25mn people, and to halve the number of people living below the poverty line (currently 13.8% of the population or 20mn people).

This growth is planned to be supported by a decline in interest rates, including a decrease in mortgage rates to 7% (9.9% in January 2018), increased cabinet spending on healthcare (up to 4-5% GDP per year vs. current 3% GDP) and education spending. The Central Bank cut rates again to 7.25% and is expected to cut at least once more this year, although some economists say the end of year interest rates could fall to 6% this year as the regulator is starting to switch its focus from inflation to growth.

How all Putin’s ambitious spending plans will be funded, remains a question to the government has yet to elaborate on. But, it is quite clear from the speech that stronger growth indicators are expected to generate enough budget revenues to enable continued defense spending. Also it is becoming clear there will be a major shuffle of social benefit payments, a raising of retirement ages and probably increases in taxes after Putin is inaugurated in May. A big government reshuffle, including a change in prime minister, is widely expected in the second quarter.

The CBR expects 1.5-1.8% y/y GDP growth in the first quarter of 2018, with 1.5-2.0% y/y growth for the full year. Some economists are predicting surprises on the upside to growth: Goldman Sachs is predicting 3.3% growth this year. To reach Putin’s call for a 50% expansion in the size of the economy over six years Russia’s economy would have to grow by 6% or more a year, which is highly unlikely.

The main driver is expected to be consumption growth supported by continuing salary and retail lending growth. While bankers share the view that consumption looks to the main driving force of the growth, Alfa Bank has a different view on the scale and seasonality of this year’s recovery.

Natalia Orlova, chief economist at Alfa Bank expects stronger growth in the first half, reflecting the finalization of state investment projects. Alfa also believe the recovery in consumption should have a positive effect on producers and inventories. However, entering the second half of 2018 Orlova expects retail lending growth to trigger inflationary concerns, as a result of, which the CBR will be forced to implement tighter regulation, which would cool the economic sentiment.

The cabinet is expected to focus on better tax collection, which would put a strong ceiling on the growth recovery. As a result, Alfa has a modest expectation of only 1.0% y/y GDP growth this year, which is below the official forecasts.

Resource: http://www.intellinews.com

VII Cbonds Emerging Markets Bond Conference, April 19-20, London

April 19-20, 2018, VII Cbonds Emerging Markets Bond Conference will take place in London. EM capital markets of Russia, CIS, Ukraine, Caucasus region, Africa, Middle East, Latin America, Asia, CEE will be in focus fof upcoming Conference.

Conference has been the most engaging event connected to EM capital markets and bringing together professional’s expertise. The key sessions are attended by reputed macroanalysts, portfolio managers, issuers, heads of DCM teams, who share their predictions on capital market conditions and discuss up-to-date investment ideas in the fixed income markets of Africa, Middle East, Latin America, Asia, CEE, Ukraine, Russia, CIS and Caucasus region.

The list of participants includes UK financial institutions, EM financial institutions and corporations, international rating agencies and infrastructure companies.

Cbonds Emerging Markets Bond Conference is the established annual meeting place for anyone involved in EM bond markets.

Resource: http://cbonds-congress.com/events/401/?l=2

SPIEF Sessions: RUSSIA’S REGIONS: NEW AREAS OF GROWTH

Each year, a series of major regional events, business forums, and meetings between members of the business community is held as part of efforts to promote the St. Petersburg International Economic Forum.

SPIEF SESSIONS: RUSSIA’S REGIONS: NEW AREAS OF GROWTH CALENDAR:
1. the Republic of Kalmykia – 24 April 2018, Elista.
2. the Ural Federal District – June 2018, Chelyabinsk.
3. the Southern Federal District – June 2018, Volgograd.
4. the Siberian Federal District – July 2018, Novosibirsk.
5. the North-western Federal District – August 2018, Pskov.
6. the Central Federal District – October 2018, Voronezh.
7. the Privolzhsky Federal District – October 2018, Samara.
8. the Republic of Chuvashia – November 2018, Cheboksary.
9. the Siberian Federal District – November 2018, Omsk.
10. the Southern Federal District – November 2018, Rostov-on-Don.

The Roscongress Foundation holds a series of events in Russia and abroad, including Russia’s Regions: New Areas of Growth (a joint project with the Russian Export Center and the Agency for Strategic Initiatives, with the support of EY and the Foreign Investment Advisory Council), and SPIEF off-site sessions aimed at supporting continuous cooperation between Russian and foreign officials, and the business and scientific communities. SPIEF off-site sessions have been held in Seoul (South Korea), Tokyo (Japan), New Deli (India), Montevideo (Uruguay), and in Stuttgart and at the Hanover Fair (Germany).

For more detailed information about SPIEF off-site events, see the SPIEF Events section.

Alongside SPIEF off-site events, the Roscongress Foundation organizes a number of its own forums abroad. An up-to-date calendar of the Foundation’s events in Russia and abroad is available on the official Roscongress website roscongress.org.

Press Release on the Eurasia FinTech Forum

On March 21st, the Russian Trade Delegation in the UK took part in the Eurasia FinTech Forum. The event was organised by the UK industry-led body TheCityUK in cooperation with the London Stock Exchange. The Eurasia FinTech Forum took place as part of the one of the worldwide leading fintech event – UK FinTech Week 2018.

The Eurasia FinTech Forum brought together senior fintech policy leaders from the international centres of Russia, Kazakhstan and Turkey and other countries from across the Eurasia region including Georgia, Kyrgyzstan and Mongolia.

The Russian Session was represented by Ekaterina Golub, the Moscow International Financial Taskforce, Pavel Shust, the Russian Electronic Money Association, and Ekaterina Andreeva, FinTech Projects at NAUFOR.

Presented during the Russian session inputs on new trends in the Russian fintech market were very welcomed by the international attendees. The significant progress achieved by the Russo-British Joint Liaison Group on Creating International Financial Centre in Moscow was also highly appreciated during this event. The audience was very supportive about the new initiative of delivering best competence to the Russian entrepreneurs via new highly professional body which is represented by advisers specialising in fintech consulting.

The forum reported that both VC investment and private equity investment reached peak levels in 2017. Today fintech has become the most dynamic economic sector worldwide.
The Eurasia FinTech Forum provided attendees with the brilliant opportunity to network with UK-based investors and best professionals within the fintech community. This forum also involved businesses in sharing together innovative ideas on how to develop fintech market globally.