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EASTERN ECONOMIC FORUM

REC, VTB to launch SME export potential development program

An agreement to that effect was been signed on the sidelines of the Eastern Economic Forum by REC General Director Andrey Slepnev and Deputy CEO of VTB Bank Denis Bortnikov

VLADIVOSTOK, September 5. /TASS/. The Russian Export Center (REC) and VTB Bank launched a joint acceleration program to unveil export potential of small and medium enterprises. An agreement to that effect was been signed on the sidelines of the Eastern Economic Forum (EEF) by REC General Director Andrey Slepnev and Deputy CEO of VTB Bank Denis Bortnikov.

According to the document, the dedicated online service of export support from experts is available on the Business-connect B2B platform of VTB Bank. The program is aimed at fostering comprehensive competencies in the field of foreign economic activity among representatives of businesses and creating the most favorable conditions for potential exporters and companies intending to expand geography and range of supplies.

The new service of a one-stop shop principle includes assessment of export readiness level of each participant, assistance in development of an individual roadmap for entrepreneur's competencies development, and access to training materials and governmental support aids provided by REC.

"REC group has been systematically working with small and medium-sized businesses, creating a special ecosystem to support export of this category of entrepreneurs. The joint program with VTB Bank will become another acceleration mechanism in the line of services offered by Russian Export Center. In 2019, similar joint programs of REC and Ministry of Economic Development, Skolkovo Moscow School of Management and other financial organizations have already been launched and are successfully functioning," Andrey Slepnev said in a comment.

Access to the Russian and the international markets is among the critical factor for development of small and medium businesses, Denis Bortnikov noted. "The export accelerator which has been created by our Bank in cooperation with REC will help entrepreneurs to prepare themselves to expansion of the geography of their work, and boost their business development," he added.

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