Cooperation is not a myth, but a reality
On November 9-10, 2015, the Chamber of Commerce of the Russian Federation held a round table attended by representatives of the Russian and American businesses. They discussed topical issues such as the Russian-American Investment Cooperation: Attracting Investments in Russian Projects; Experience of Project Financing in the US and Alternative Russian Investment Project Financing Mechanisms and Instruments in Modern Conditions. The round table also provided for the session Development of Construction: Prospects for Russian-American Cooperation.
The Director of the Chamber of Commerce’s Department for Exhibition, Fair and Congress Activities Igor Korotin, welcoming guests from Oklahoma, drew their attention to the fact that even despite tensions between the two countries, the initiative to hold the round table came from the American side and the Russian Chamber of Commerce provided support for the bilateral business dialogue. He also expressed confidence in the constructive development of direct links between business representatives of the two countries.
In his speech, the Deputy Chairman of the Expert Council on Housing under the Committee of the State Duma, the Vice-President of the National Agency for Low-Rise and Cottage Building Valery Kazeikin stressed that the Russian building industry is transparent and the state is ready to provide guarantees for investors planning to enter the Russian market.
The Director General of the National Construction and Housing Management Agency Mikhail Green elaborated on the legal aspects of the investment cooperation in the field of building, but also noted that in recent years, the industry in Russia had developed actively: there was studied and widely embedded mortgage instrument which took more than half of the low-rise building market.
The Chairman of the International Expert Network ‘Soyuzkonsalt’ Oleg Palade emphasized that at the time the technological investment and technology transfer were becoming one of the most important trends in the development of international cooperation. According to him, the investment attractive is the financial area. In the field of sales and marketing the most successful development will be in the case of cooperation and collaboration with other brands. A potentially attractive industry is procurement, as the current policy is aimed at providing preferential status to goods produced in Russia. In addition, locating the production can bring a significant reduction in logistics costs and reduce the risks associated with the movement of goods across the border.
Representatives of the US businesses took active part in the round table as well.
Thus, the Ross Group President, Mr. Warren Ross, spoke about the investment projects in the state of Oklahoma, emphasizing special conditions that are offered to investors.
The peculiarities of doing business in the United States for non-residents were highlighted by the lawyer and the managing partner of the InterInvest Oklahoma Foundation – Lydia Lawson.
According to the president of the Regent Bank Sean Copeland, an important factor in establishing mutually beneficial cooperation with American partners is an understanding that various states have various economic and tax policies. In particular, Oklahoma has significant advantages as compared with other more ‘expensive’ ones, which, in particular, showed the crisis of 2008, when financial institutions were not destroyed, but strengthened.
When asked whether the sanctions policy affects investment in the Russian economy Mr. Copley replied that the Russian market was to some extent underestimated due to sanctions, even though it was extremely attractive and promising for investors. Therefore, at present it is the interbusiness dialogue and individual approach to each project that is the key to successful implementation of investment projects.
In his view, the US economy experienced a similar crisis in 2008-2009, and the Russian economy is going through hard times right now. But actions expanding cooperation in all areas are necessary even today.
During the event there was held a direct video conference with the President of the Inter Invest Oklahoma Foundation, the Chief Editor of the Global Investment Review magazine Alex Yar, and the General Director of Alcor, the managing partner of the Inter Invest Oklahoma Foundation, and co-founder of the international edition Global Investment Review Anna Shishkina told in detail about the aims and objectives of the Foundation.
The audience took the great interest in the first edition of the Global Investment Review magazine: they asked the Chief Editor Vitaly Pishchenko numerous questions. Everyone could get the book ‘Priority Promise’ by Sean Copley, which is very popular in the US, for the first time released in Russian language in the Library journal. It should be noted that it caused genuine interest; many people did not miss a chance to take the author’s autograph.
Within the framework of the round table the attention of the American guests was drawn to a number of projects potentially interesting for bilateral cooperation. Russian participants also expressed a desire to visit Mr. Copley’s educational business seminars and lectures during a return visit to Tulsa.
In conclusion, Igor Korotin stressed that the two-day US-Russia round table confirms the keen interest of the parties in the development of business relations in specific areas and sectors of the economy, and also confirmed that the Russian Chamber of Commerce will continue working on the expansion of direct contacts between Russian and American businesses and amongst short-term plans will be the organization of the Russian business mission to Oklahoma and preparation for the broad US-Russia business forum.