On October 6, 2009 on the initiative of the Chamber of Commerce and Industry of the Russian Federation a constituent meeting of the Russia-Singapore Business Council took place. Deputy CEO of the State Corporation Rostec Nikolay Volobuev was elected Chairman of the Board of Directors. The representatives of business community, the Ministry of Foreign Affairs, the Ministry of Economic Development and the Ministry of Industry and Trade of the Russian Federation attended the meeting. Earlier, in September 2009, the working meetings of the President of the Russian Federation Dmitry Medvedev and the Prime Minister of the Russian Federation Vladimir Putin and Minister Mentor of Singapore Lee Kuan Yew took place.
The mission of the Council was defined as:
- The development of business contacts and mutually beneficial cooperation between Russia and Singapore entrepreneurs;
- The enhancement of role of the interested members of Russian business community in formation and implementation of the state policy in the sphere of Russia-Singapore economic relations;
- Uniting efforts and the organization of constructive dialogue between Russia and Singapore business circles, interested in sustainable development and improving the efficiency.
The main Council’s areas of activity were defined as:
- Evaluation of priority areas of cooperation;
- Monitoring of economic climate in Singapore;
- Organization of conferences and business forums;
- Preliminary check of business partners;
- Assistance to the Chamber of Commerce and Industry of the Russian Federation;
- Assistance to the members in collaboration with the Chamber of Commerce and Industry of the Russian Federation;
- Cooperation with the Embassy of the Republic of Singapore in the Russian Federation;
- Promotion of Russian technologies in various industries in the ASEAN countries;
- Organization of access of Russian business to technologies of Singapore companies;
- Cooperation with Business Councils of the Chamber of Commerce and Industry of the Russian Federation;
- Organization of Russian music and art stars’ tours.