Rosoboronexport to conduct negotiations with the government of India during SPIEF 2017.

 

Rosoboronexport (forming part of Rostec State Corporation) will participate in the St. Petersburg International Economic Forum (SPIEF) 2017. On the sidelines of the Forum, Director General of Rosoboronexport Alexander Mikheev and senior managers of the state-controlled special exporter will hold over 20 meetings with heads and representatives of Russian and foreign business circles.

“We have planned very close cooperation with Russian and foreign business partners. Key events include participation in a high-level meeting with the Prime Minister of India Narendra Modi during which issues related to military and technical cooperation between our countries will be raised. Specific projects will be discussed during meetings with heads of large Indian companies,” said Alexander Mikheev.

Representatives of Rosoboronexport and leaders of certain foreign states and their national security, defence and law enforcement agencies will discuss prospects for cooperation. For instance, there are plans to conduct negotiations with leaders of Burundi and Zimbabwe.

Rosoboronexport will discuss technical cooperation projects with representatives of the largest Indian corporation Larsen & Toubro Limited. Meeting agenda items include cooperation in creating an air-independent propulsion power plant for submarines.

The agenda also includes events held together with Russian partners during the Made in Russia round-table discussion, heads of Russian Agricultural Bank, Sberbank, Gazprombank and other entities which actively participate in the implementation of the country’s military and technical cooperation projects.

Representatives of Rosoboronexport are confident that the Forum will make it possible to focus on priority areas of Russian export, find solutions to issues related to economic cooperation with foreign customers and banking services provided in relation to contracts concluded by the special exporter.

The Joint Stock Company Rosoboronexport, part of the Rostec State Corporation, is the sole Russian state intermediary agency responsible for import/export of the full range of defense and dual-use end products, technologies and services. Only Rosoboronexport has the right to supply the world market with a full range of arms and military equipment manufactured by Russia‚Äôs defense industrial complex and approved to be exported. Rosoboronexport accounts for more than 85% of Russia’s arms exports.

Rosoboronexport is among the major operators in the world market for arms and military equipment. Rosoboronexport cooperates with more than 70 countries.

Rostec State Corporation is a Russian corporation founded in 2007 to promote the development, production, and export of high-tech industrial products for civil and military purposes. It is comprised of more than 700 organizations, whereof 11 holding companies presently operate in the military-industrial complex, 3 organizations are in civilian industries, and more than 80 are direct control organizations. Rostec’s portfolio includes famous brands such as AVTOVAZ, KAMAZ, Kalashnikov Concern, Russian Helicopters, VSMPO-AVISMA, Uralvagonsavod, etc. Rostec companies are located in 60 federal subjects of the Russian Federation and supply products to the markets of over 70 countries. In 2016, Rostec’s consolidated revenues reached RUB 1,266 billion, its consolidated net income equaled RUB 88 billion, and the EBITDA was RUB 268 billion. The Corporation’s average wage in 2016 was RUB 44,000. According to the strategy of Rostec, the main objective of the Corporation is to provide Russia with a technological advantage on highly competitive global markets. One of the key objectives of Rostec is to integrate a new technological mode and digitize the Russian economy.