Nornickel and the Russian Export Centre (REC) signed a cooperation agreement at the Eastern Economic Forum 2019 with a view to expanding the Company’s exports destinations and increasing its foreign trade revenues. The document was signed by REC General Director Andrey Slepnev and Dmitry Pristanskov, Nornickel’s State Secretary — Vice President for Government Relations.
Under the agreement, REC will help find foreign customers for Nornickel, structure export projects, including by attracting insurance and credit products from the Russian Agency for Export Credit and Investment Insurance (EXIAR) and ROSEXIMBANK (both are part of REC Group), and promote the Company in foreign markets.
The parties have decided to jointly participate in exhibitions and conferences on metal exports support and leverage REC foreign offices to facilitate Nornickel’s exports.
The metals industry is a major contributor to Russia’s non-commodity non-energy exports. In 2018, it accounted for around 30% of all non-commodity non-energy exports, with metal exports growing 19% y-o-y.
“Last year, REC Group supported over USD 400 mln of Nornickel’s exports. This year we are working on a number of new projects. Nornickel is primarily interested in our financial instruments, and hopefully we can scale our cooperation in this area,” said Andrey Slepnev, General Director of REC.
“Nornickel is one of Russia’s largest exporters. In 2018, the Company accounted for 2.6% of all Russian exports. Our products are shipped to 34 countries across the world. In today’s tough foreign trade environment, export support is critically important, and REC’s assistance cannot be overestimated. Under the cooperation agreement, we can rely on REC’s export support tools to facilitate access to foreign markets and promote our products abroad,” commented Nornickel’s Vice President Dmitry Pristanskov.