Ministry of Economic Development of the Russian Federation
Ministry of Economic Development of the Russian Federation
FIAC Executive Committee discusses implementation of measures to improve conditions for foreign businesses in Russia
24 May 2021 10:25

Minister of Economic Development of Russia Maxim Reshetnikov held a meeting of the Executive Committee of the Foreign Investment Advisory Council in Russia (FIAC). The head of the agency discussed the development of the consumer market and labeling of goods, carbon regulation and the environment with representatives of major foreign companies.

Opening the meeting, the Minister noted that "Advisory Council has long been a platform for the development of major decisions that, on the one hand, remove barriers to the development of foreign business in Russia, and on the other hand - strengthen the Russian economy, as well as improve the business climate in the country.

In particular, he noted that the last year's FIAC meeting, which was presided over by the Chairman of the Russian Government, resulted in the issuance of assignments, some of which have already been implemented. Thus, a zero interest rate on imports of superabsorbents, which are used in the production of hygiene products, has been applied. In addition, the Ministry of Agriculture of Russia has prepared proposals to ensure the domestic system of certification of organic products with a sufficient number of experts.

According to Alexander Ivlev, Managing Partner of EY CIS and Coordinator of FIAC's foreign participants, "Investments in Russia are really well-thought-out and long-term projects". According to his data, only 1% of investment projects in Russia were unimplemented in 2020, while in Europe about 30% of such projects were 'frozen'.
Valery Shchapov, president of Mars Russia, has proposed abolishing the requirement for mandatory item-by-item traceability of goods in cross-border trade between Russia and Belarus, as well as other market participants within the EAEU. In order to harmonize the legislation of Russia and Belarus in terms of marking dairy products with means of identification, First Deputy Head of the Ministry of Industry and Trade Vasily Osmakov suggested introducing in the Russian-Belarusian legislation a mirror norm of batch (rather than item-by-item) registration of products in cross-border trade, without transfer of information about each labeling code.  For dairy products with a shelf life of more than 40 days to December 1, 2023, and for products with a shelf life of less than 40 days - indefinitely.  The respective draft government decree was developed by the Ministry of Industry and Trade and sent for inter-institutional approval on 18 May.

Regina Kuzmina, President of Unilever in Russia, Ukraine and Belarus, proposed to develop mechanisms that would directly contribute to restricting consumption and take into account the specifics of the introduction of F-List substances (high GHGs). She also expressed the wish of businesses for the introduction of symmetrical regulation in the EAEU countries. Ivan Kushch, Director of the Department of International Cooperation and Climate Change of the Ministry of Natural Resources and Environment of the Russian Federation, said in response that the department has already worked out such proposals.  In the near future, the relevant draft decree will be introduced for public discussion and sent for approval to the federal executive authorities concerned.

Maxim Reshetnikov confirmed that the Ministry of Economic Development supports the proposals for amendments to the relevant government decree.
The FIAC Executive Committee meeting was also attended by Natalia Krasochenkova, Deputy Director of the Economic Development and Finance Department of the Russian Government, Andrew Buckingham, General Manager of Coca-Cola in Russia and Belarus, and others.

The next meeting of the FIAC executive committee will take place in July this year.

Дата публикации: May 24, 2021
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