More than a Decade of Progress

БезымянныйA new issue of Opportunity Russia magazine has been released. The section “Success stories” of the new issue is devoted to the ten-year experience of the Russia-Singapore Business Council, its activities and foreign promotion tools.

The publication has been made with the support of the Russian Embassy in Singapore.

 

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RUSSIA-SINGAPORE BUSINESS COUNCIL

More than a Decade of Progress

 

Russia-Singapore Business Council (RSBC) remains busy and successful. The Council’s executives established a company RSTradehouse LLC in 2016 to implement the wide range of tasks that are needed for promoting business between both countries.

 

The RSBC was an initiative by the Chamber of Commerce and Industry of the Russian Federation with its first meeting held on 6th October 2009. Deputy CEO of the State Corporation Rostec, Mr Nikolay Volobuev was elected Chairman with the support of representatives from the business community, the Ministry of Foreign Affairs, the Ministry of Economic Development and the Ministry of Industry and Trade of the Russian Federation.

The seeds for that inaugural meeting were sown earlier in September following talks between the President of the Russian Federation Dmitry Medvedev and the then Prime Minister of the Russian Federation Vladimir Putin and Minister Mentor of Singapore Lee Kuan Yew took place.

The vision of the leaders was expressed in the mission of the Council which was, among other objectives, the development of business contacts and mutually beneficial cooperation between Russia and Singapore entrepreneurs.

The RSBC also seeked the enhancement of the role of interested members of the Russian business community in formation and implementation of the state policy in the sphere of Russia-Singapore economic relations.

It is hoped that the Council can unite efforts and the organization of constructive dialogue between Russia and Singapore business circles, interested in sustainable development and improving the efficiency.

To implement this wide range of tasks in the field of foreign promotion, in 2016 the executive structure of the Council established RSTradehouse LLC in Russia, and in 2017 – the Centre for Overseas Promotion of Russian High-Tech Companies and Presentation of Investment Projects in Singapore.

This was considered an important tool to expand the interaction of Russian companies with partners from ASEAN countries in the export-import international B2B Platform RSTrade.

Again, these initiatives were supported by the Russian leadership and the decision of the Russia-Singapore High-Level Intergovernmental Commission.

 

RSTrade Platform – A Key Tool

RSTrade Platform is one of the key tool and stepping stones to help facilitate Russian companies who have interest in ASEAN markets. Today, there are more than 83,000 companies from 26 countries and 400 services represented on the RSTrade Platform.

Fully developed in Russia and operated by RSTradehouse LLC, the Platform is integrated with the State Industry Information System and with CamelONE international electronic platform (operated by vCargo Cloud, Singapore).

According to estimates by Bloomberg, the RSTrade and CamelONE integrated solution for the automation of international trade and multimodal transport will grow to have global importance in the near future.

The activities of the Business Council provide the basis for the acceleration of the Russian presence in the region and significantly expand the opportunity for Russian companies to use the business support infrastructure and development institutions that are operating in Singapore.

With the assistance of the Council and the direct participation of its executive structure, the first agreement and contracts on high-tech civilian products in the SEA countries were concluded and are being implemented.

Currently, joint engineering projects are being implemented at the Centre for Overseas Promotion in Singapore in the interests of key Russian industrial companies, and infrastructure for the sale of high-tech civilian products has been formed. The Centre consists of a permanent Showroom to present Russian High-Tech Enterprises products in physical as well as in digital. Till date, 25 Russian companies are exhibited and over 160 projects are presented at the Overseas Promotion Centre in Singapore.