SINGAPORE, September 21, 2018 /PRNewswire/ --
Russian and Singapore Companies with support
of Rostec have signed agreements on the
development of cooperation during the session of
High-Level Russia-Singapore Inter-Governmental
Commission. The deals will expand the
presence of Russian companies in Southeast Asia.
Parties of the first agreement are The Russian Export Center
(REC), RSTradeHouse (the executive structure of Russia-Singapore
Business Council (RSBC) and Progression Engineering, a legal entity
of the Center for Overseas Promotion of Russian High-Tech Companies
and the Presentation of investment projects. They agreed to develop
Russian high-tech export to Southeast
Asia.
RSBC with support of Rostec created an infrastructure to promote
Russian high-tech products, which has two components: the
international information and service B2B platform RSTrade and the
Center for Overseas Promotion, an integrator of international
engineering cooperation of industrial and high-tech enterprises.
The agreement intends the joint use of this infrastructure for the
promotion of Russian products in Southeast Asia and the provision of support
measures of REC to Russian exporters.
Besides, RSTradeHouse and the Singapore vCargo Cloud (VCC), a subsidiary of
SGX Catalyst, have signed a cooperation agreement to expand trade
opportunities between Russian and Singapore companies. It provides mutual
integration into the platforms vCargo Cloud and RSTrade (which is
operated by RSTradeHouse) of electronic services and services of
this two companies.
The companies agreed to represent and promote the goods and
services of the other side to their customers in the markets of
Singapore and the ASEAN countries,
as well as Russia and the EEU
countries, respectively.
"I am convinced that the signed agreements will contribute to
expanding cooperation between Southeastern and Russian companies,"
said Deputy CEO of Rostec and Chairman of RSBC Nikolay Volobuev. "We got together on a
practical mechanism that would provide Russian companies with the
ability of strengthening their positions in a perspective Asian
region. The agreement signed by our holding company Shvabe and
Russia-Singapore Business Council became the first step of
fulfilling our agreements. We intend to significantly scale up our
presence in the segments of optics, laser and high-tech medical
equipment."
Under trade platforms integration, Asian companies can access
more than 81,000 companies from 16 countries in Europe and Asia, including Russian, which are already
represented on the RSTrade platform. This allows VCC to enter a
much wider market. At the same time Russian companies can access
markets of ASEAN and several African countries.