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UFA, May 11. /TASS/. The Russian Export Center, or REC (part of VEB development bank), will spend 370 mln rubles ($6.4 mln) on the creation and promotion of the export-oriented brand ‘Made in Russia’ this year, REC’s regional communications director Dmitry Makeyev said Thursday.
"The budget provides 370 mln rubles for the creation of the export-oriented brand ‘Made in Russia’ this year. The funds will be also invested in its promotion abroad, marketing researches and voluntary certification of goods," he said, adding that the Russian Export Center will be in charge of the quality of Russia-made goods to be exported.
As reported earlier Russia’s Industry and Trade Ministry suggested that a subsidy amounting to 370 million rubles should be granted to REC this year for promoting the brand internationally. The Ministry said that the creation of Russia’s export brand will increase the brand awareness of Russia-made products and form the brand loyalty for Russian products among foreign buyers.
The Russian Export Center was established in 2015 as a one-stop-shop for exporters, providing financial and non-financial support, and interacting with relevant ministries and agencies. Its areas of expertise include export transactions, providing consultations on issues related to exports, assistance in organizing exports, and providing support related to export procedures.