foir print

16.07.2004

NEW MECHANISMS FOR THE PARTICIPANTS OF FOREIGN TRADE ACTIVITIES

On July 16, 2004 the OJSC “CB Center-Invest” together with the Rostov Customs House have organized a seminar under the following slogan: “Urgent questions of customs and currency regulation. Fi-nancing of the foreign trade activities participants of the South of Russia”.

The main purpose of this seminar was to acknowledge the "CB Center-Invest"’s clientage with the latest changes in currency and customs legislation and to share information, concerning new mechanisms of the foreign trade bargains financing.

More than 150 representatives of the enterprises - partici-pants of foreign trade activities, who have taken part in this seminar got the unique opportunity to meet those who have directly participated in development of the new legislation: the chief of Currency Regulation Department of the Central bank of Russian Fed-eration (Moscow) Mrs. Ischenko E.I., The deputy director of For-eign Trade and Customs Business Regulation Department of the Min-istry of Trade and Economic Development of Russian Federation Mrs. Klochkova T.P. The special guest of the seminar was Igor Rusin – the conducting expert in trade financing, representing the Euro-pean Bank for Reconstruction and Development.

The Chairman of the Board of Directors of the OJSC “CB Center-Invest”, doctor of economic sciences, professor Vysokov V.V. and Chief of the Rostov customs house, the custom service major-general Mikheev Yu. V. held the introductory word before the audi-tory.

It was particularly pointed out by professor Vysokov, that the OJSC “CB Center-Invest” offers to its clients the constant moni-toring of their operations in part of conformity to the currency legislation, financial and intellectual support, based on modern technologies and unique experience, acquired in cooperation with leading international financial organizations.

The Chief of Currency Regulation Department of the Central bank of Russian Federation Mrs. Ischenko E.I. has given the de-tailed explanation of currency regulation and control mechanisms and regulation schemes, used in the Central bank‘s currency opera-tions. The particular measures used to the participants of foreign trade activities and feature of resident’s operations in the inner currency market also were considered in her report.

The special attention at a seminar was given to the Program of Trade Financing for the participants of foreign trade activities provided in the Rostov area by the European Bank for Reconstruc-tion and Development in partnership with the OJSC “CB Center-Invest”.

Igor Rusin, the ING group consultant and trade financing ex-pert, has explained to the auditory some of the advantages, given by new financial instrument, based on banking guarantees and acridities and assigned to significantly lower both non-delivery and payment default risks of the foreign trade operations. Mr. Rusin has also noted that the EBRD had chosen the OJSC “CB Center-Invest” as the partner for its enormous experience in foreign trade service, strong connections with international financial or-ganizations and indisputable authority in the international finan-cial market.

The problems of the basic directions of tariff politics and measures on protection of a home market, organization of customs registration and customs control also were mentioned at a seminar.

On results of a measure the round table was held, where the experts of the OJSC “CB Center-Invest”, the Central Bank of Rus-sian Federation and Rostov customs house have answered the ques-tions of the present businessmen.

The carried out seminar is of huge practical importance: as for informing the participants of foreign trade activities about the last changes in the legislation and new financial technolo-gies, and in adjustment of productive cooperation of state super-vising and executive bodies with banks financing foreign trade ac-tivities.