Moscow conference promotes Russian-Andean trade

To strengthen knowledge, channels of communication and mutual relations between the Andean Community and the Russian Federation, the Andean Development Corporation (CAF) and the Chamber of Commerce and Industry of the Russian Federation has organized a conference on Russia and the Andean countries: a great business opportunity to be held in Moscow on March 21 and 22.

The CAF executive president, Enrique García, said that in this first meeting, the multinational lender is acting as an intermediary between the Andean countries and Russia in an effort to open access to important and attractive opportunities for trade, through a stable and permanent relationship. The immediate aim is to organize other meetings to discuss cooperation and promote joint ventures and strategic alliances.

The CAF believes that the Russian market, still incipient in some areas, could easily become an importer of Andean products that complement the economy of that Eurasian country, such as food, flowers, wood products, crafts, minerals, precious stones, cotton and textiles.

At present trade between the Andean countries and Russia is only US$400 million a year, handicapped by distance and mutual ignorance, as well as difficulties with means of payment, among other factors.

The objective of the first meeting is to generate active participation by the two sides in identifying the Russian business and economic sectors that are relevant to the Andean market.

To forge closer links and establish contacts and communication channels, the meeting will develop a program with an agenda that covers general aspects of Andean economies, especially the sectors and subsectors most appropriate for trade with Russia.

The meeting is to be attended by the Russian foreign trade and development minister, ministers from the Andean countries, customs officials from both countries, along with representatives of Banco Bilbao Vizcaya, the European Bank for Reconstruction and Development and the Foreign Trade Bank who will discuss financial matters, such as payment mechanisms.