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22.09.2011

Center-Invest Bank represented Southern Russia at the RIC Business Forum

On 20-21 September 2011, the third Russia-India-China (RIC) Business Forum was held in Rostov-on-Don. The co-organisers for the Russian side were the Russian Chamber of Commerce and Industry and Center-Invest Bank.
Russia was represented at the forum by Vice-President of the Russian Chamber of Commerce and Industry, Mr. Gregory Petrov, and President and Chairman of the Board of Center-Invest Bank, Dr. Vasily Vysokov. Wang Jinzhen, the deputy chairman of the China Council for the Promotion of International Trade, headed the Chinese delegation, and India was represented by the Sun Group chairman, Nand Khemka.
The first forum was held in India (New Dheli) in December 2007, and the second in China in September 2009 (Changchun). 
Rostov-on-Don was chosen as the venue for the third RIC Business Forum for a specific reason. In April, Dr. Vysokov had proposed that the next forum be held in southern Russia’s capital city so that the participants could see for themselves how the sustainable banking model supports the development of the SME sector, energy efficiency and agribusiness. This proposal was accepted. The resultant trilateral meeting provided participants with the opportunity to discuss new economic, trade, manufacturing and investment projects in southern Russia, furthering the development of trade and economic relations among the three countries.
Addressing the forum, Dr. Vysokov said, «Center-Invest Bank’s regular monitoring of the economy of southern Russia has shown that southern Russia plays the same role in the Russian Federation as do the BRIC countries in the global economy. Thanks to their faster economic growth rates, market-oriented methods of adaptation to the global crisis, and the highly efficient modernization of SMEs, the BRIC countries and southern Russia are both able to withstand new challenges on global markets. India and China will soon be the leading economic powers, and it is important that we act now to establish a link with the post-crisis world. This meeting between business people from southern Russia and partners from China and India is an important step towards positioning the southern region in the future world.» 
In 2010, China was Russia’s leading trade partner, with trade between Russia and China amounting to almost USD60bn. Trade between Russia and India increased by 15% compared to 2009, reaching USD8.5bn. 
Moreover, there is considerable scope for further cooperation. The most promising avenues include: increasing economic and industrial links; developing inter-regional cooperation, expanding the number of regions and industries involved; cooperation in the sphere of innovation, supporting SMEs in the innovation sector; and increasing reciprocal investment. 
Besides the plenary session, the programme for the third Business Forum included break-out groups and bilateral B2B meetings. During the bilateral meetings, business representatives from southern Russia discussed ways of increasing cooperation in the fields of energy, infrastructure, biotechnology, nanotechnology, pharmaceuticals, the chemical industry, agriculture, and trade and investment. 
PR Department
Russia was represented at the forum by Vice-President of the Russian Chamber of Commerce and Industry, Mr. Gregory Petrov, and President and Chairman of the Board of Center-Invest Bank, Dr. Vasily Vysokov. Wang Jinzhen, the deputy chairman of the China Council for the Promotion of International Trade, headed the Chinese delegation, and India was represented by the Sun Group chairman, Nand Khemka.
The first forum was held in India (New Dheli) in December 2007, and the second in China in September 2009 (Changchun). 
Rostov-on-Don was chosen as the venue for the third RIC Business Forum for a specific reason. In April, Dr. Vysokov had proposed that the next forum be held in southern Russia’s capital city so that the participants could see for themselves how the sustainable banking model supports the development of the SME sector, energy efficiency and agribusiness. This proposal was accepted. The resultant trilateral meeting provided participants with the opportunity to discuss new economic, trade, manufacturing and investment projects in southern Russia, furthering the development of trade and economic relations among the three countries.
Addressing the forum, Dr. Vysokov said, «Center-Invest Bank’s regular monitoring of the economy of southern Russia has shown that southern Russia plays the same role in the Russian Federation as do the BRIC countries in the global economy. Thanks to their faster economic growth rates, market-oriented methods of adaptation to the global crisis, and the highly efficient modernization of SMEs, the BRIC countries and southern Russia are both able to withstand new challenges on global markets. India and China will soon be the leading economic powers, and it is important that we act now to establish a link with the post-crisis world. This meeting between business people from southern Russia and partners from China and India is an important step towards positioning the southern region in the future world.» 
In 2010, China was Russia’s leading trade partner, with trade between Russia and China amounting to almost USD60bn. Trade between Russia and India increased by 15% compared to 2009, reaching USD8.5bn. 
Moreover, there is considerable scope for further cooperation. The most promising avenues include: increasing economic and industrial links; developing inter-regional cooperation, expanding the number of regions and industries involved; cooperation in the sphere of innovation, supporting SMEs in the innovation sector; and increasing reciprocal investment. 
Besides the plenary session, the programme for the third Business Forum included break-out groups and bilateral B2B meetings. During the bilateral meetings, business representatives from southern Russia discussed ways of increasing cooperation in the fields of energy, infrastructure, biotechnology, nanotechnology, pharmaceuticals, the chemical industry, agriculture, and trade and investment. 
PR Department