Plans to launch a new lending programme of the export VAT refund and change of customs regime
Photo: RIA NOVOSTI/Alexander Astafyev
In the next eight years, the government plans to boost exports through improving the regulatory environment, providing financial and regulatory support and development of international integration. This is stated in the presentation of the working group on supporting exports, organised to create a plan of action by the government to increase the pace of economic growth in the years 2017-2025. The materials acquainted “Izvestia”. In particular, discussed the idea of implementing a new program of crediting of export, the VAT refund to exporters and changes in the customs regime.
In the action plan of the government to increase the pace of economic growth to a level not below average in the years 2017-2025, which now prepares the Ministry of economic development, will be a separate unit for promoting exports, told “Izvestia” sources familiar with the details of the development of the plan.
Export support is offered in four ways: through the improvement of the regulatory environment and ease of doing export activities, providing financial support for exports, development of international integration and non-financial support measures. This is stated in the presentation of the working group which is developing proposals for export support for the “plan 2025” .
Financial block associated with a credit support of exporters in competitive markets, hedging currency risks and funding work group of the Russian export centre: “Exiar” and Eximbank of Russia. Also it was about that in private Russian banks to engage in lending to exporters, — told “Izvestia” one of the members of the working group.
In particular, one of the proposals on financial support, which was discussed at the first meeting of the working group was included in the presentation is the development and implementation of programs of crediting by commercial banks of the exporting non-oil products, the volume of which in 2018 will amount to 200 billion rubles, in 2025 — 300 billion roubles. This has developed and approved rules of granting of means from the Federal budget to commercial banks to subsidize interest rates on export credits, according to the presentation.
Hedging of currency risks could be implemented in two ways, told “Izvestia”, the press service of the Russian export centre (REC). The first option assumes that the company concludes with the Eximbank agreement, which will allow the exporter to sell the Bank foreign currency for rubles at the agreed at the time of the transaction exchange rate on a specific date or range of dates in the future.
— Another possible hedge currency risks may be sale of options of exporters. In this case, the exporting company has with the Eximbank agreement under which the exporter acquires the right, and the Bank undertakes to carry out the conversion operation in a specific date or period of time at the rate agreed at the time of conclusion. The hedge eliminates foreign exchange risk for the exporter — said the press service of the REC.
Improving the regulatory environment and business conditions can be provided for reimbursement to exporters the VAT, removing redundant requirements, currency, export, phytosanitary control and establishment of “friendly” businesses in the legal regulation of the customs regime and the relationship IT exporters with commercial banks.
Among non-financial support in the presentation includes, in particular, protection of interests of Russian exporters abroad, mechanisms of export promotion in Russia and in foreign markets, overseas the accreditation of authorities on conformity assessment.
To develop international integration is proposed through the promotion of the interests of Russian companies in international projects, prioritization of product groups and negotiations on free trade zones, according to the presentation.
— All these proposals were discussed at the meeting of the working group as indicative. They can enter the draft action plan of the government only after their detailed study, — said a member of the working group.
Leading expert of the development Center of the HSE Sergey Pukhov believes that the export of Russian goods rests on the complicated logistics.
— In Russia a lot of problems for the promotion of domestic products in the West. First, you need to produce a lot of competitive products that they demand. In principle, we have competitive products, but its export depends on a complex customs regime, complex supply chains, — says Sergey Pukhov.
Professor, Department of national security Alexander Mikhailenko of the Russian Academy of national economy and public administration (Ranepa) believes that efficiently support Russian exporters will succeed in case of cancellation of restrictive sanctions and the use of all available instruments of the WTO.
— First of all we need to decide which groups our products is really competitive in world markets. Now it is agriculture, nuclear industry, military-technical products. But this list needs to be expanded, — says Alexander Mikhailenko. — Secondly, Russia should use all possibilities available in the WTO. There are tools that will allow us to more confidently use our advantages. Third, you need to get rid of the political aspects. For example, sanctions. This political pressure is a big influence on competition. Need to negotiate, to find compromises.
Working group on export support is headed by Deputy Minister of economic development Stanislav Voskresensky has informed “news” in a press-service of the MAYOR. Also the working group includes representatives of Federal Executive authorities and business associations.