russia & cis trade & export finance conference 2015...finance conference 2015 february 4-5,...
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Post-event round-up
Russia & CIS Trade & Export Finance Conference 2015
Moscow, Russia | Baltschug Kempinski February 17, 2015
“Very interesting conference which gives ideas regarding additional opportunities in trade & export finance even during a crisis period.”A Semenova, Unipec
“Great place to understand the current situation and meet new business partners and friends.”S Chukei, Belagroprombank
“The conference proved once again that it definitely is the venue where opinions are exchanged on the trade & export finance business in Russia.”S Karmalito, HSBC
“Definitely a conference that should not be missed.”A Filippov, Commerzbank
“A timely update & greater insight of what is going on in the region.”A Ugoral, Commerzbank
2015’s VITAL STATISTICS
deLegATeS ATTended
180COMPAnIeS
rePreSenTed
97COunTrIeS
rePreSenTed
16
Russia & CIS Trade & Export Finance Conference 2015The Russia & CIS Trade & Export Finance Conference returned to Moscow in 2015 for its 8th year, featuring as the only event of its kind on the trade finance calendar.
With recent international sanctions raising many questions over trade and exports flowing in and out of Russia, the conference provided a crucial forum for open debate between business and finance leaders from across Russia and beyond.
“The GTR conference in Moscow has been a very valuable event on trade finance. It brings insight from the most prominent and influencing market players.”O Rink, Interfax-Dun&Bradstreet
SeCTOrS rePreSenTed In 2015
48% COrPOrATeS & TrAderS28% BAnkS & FInAnCIerS5% eCAS & MuLTILATerALS5% LAwyerS4% COnSuLTAnTS
4% nOn-BAnk FInAnCIerS2% InSurerS & rISk AnALySTS2% gOVT OrgS & PuBLIC BOdIeS2% SOLuTIOn PrOVIderS
48%
28%
OvERvIEw
2015 In pIcturesru
SSIA 77%
eurO
PeAuSTrIABeLAruSCzeCh rePuBLICdenMArkFInLAndgerMAnySLOVAkIASwITzerLAndThe neTherLAndSukrAIneuk
21%
reST
OF
The
wOr
Ld
hOng kOngSIngAPOreuAeuSA
2%
REGIONS REPRESENTED IN 2015
2015’s COnFerenCe wAS SuPPOrTed By
OvERvIEw
SPeAkerS InCLuded
●● Alexander Prosviryakov, Treasury & Commodities Manager, PwC Russia
●● Anna Ponomareva, Managing Director, Trade & Export Finance Department, VTB
●● Anton Zur, Head of ECA Finance, Sberbank
●● Arseniy Ulchenkov, Head, Corporate Finance, Russneft
●● Artem Pozdnyakov, Head, Corporate Finance, Norilsk Nickel
●● Chris Hurd, Head of Global Banking Russia, HSBC
●● Daria Kim, Head of Corporate Finance & Treasury, Freight One
●● Dina Merkulova, Director, Financial Institutions & ECAs, International & Trade Finance, Alfa Bank
●● Dmitry Kuryshev, First Vice President, Global Trade Finance, Chief Representative, Russia ABC International Bank
●● Dmitry Minaev, Managing Director, International Trade Finance, Alfa Bank
●● Georg Gruber, Director, Business Development, Global Trade & Export Finance, Raiffeisen Bank International
●● Georgy Smirnov, Head, Treasury, Nordgold
●● Hanieh Ferdowsi, Director, International Business Development, Exiar
●● Igor Emelyanov, Managing Director, Trade & Export Finance Department, VTB
●● Igor Ostreyko, Managing Director, Trade & Export Finance Department, VTB
●● Irina Danilova, Head, Treasury, Rosatom
●● Jan Randolph, Director, Sovereign Risk, IHS
●● Julia Osadchaya, Partner, KIAP Law
●● Leonid Sirota, Global Head of Trade & Export Finance, VTB
●● Lou Naumovski, Vice President & General Director, Moscow Representative Office, Kinross Gold Corporation
●● Marc Partridge, Managing Director, Co-Head of Project & Structured Finance, Gazprombank
●● Mark Norris, Partner, Sullivan & Worcester
●● Marko Gucijan, Head of Capital Financing Russia, HSBC
●● Matti Airaksinen, Senior Adviser, Bank Risks, Finnvera
●● Natalia Savina, Director, Head of Transaction Services Sales, ING Commercial Banking
●● Nikolay Shapilov, Head of Export Department, JSC
●● Oleg Krylov, Director, Head of Transaction Services, ING Commercial Banking
●● Olga Rink, Chief Executive Officer, Interfax-Dun&Bradstreet
●● Peter Gloushkov, Head of International Legal, Tatneft
●● Ralph Lerch, Head of Export Finance, Commerzbank
●● Sergey Karmalito, Head of Export Finance Russia, HSBC
●● Svetlana Gromyko-Piradova, Head of Structured Trade & Export Finance, GTB, UniCredit Bank Russia
●● Thaddeus Stitzman wolff, Regional Director, Eastern Europe, American Trade & Finance Company (Atrafin), President & Chief Executive Officer, Wolff Pershing Capital
●● Thomas Baum, Head of Division, Underwriting & Risk Management, Euler Hermes
●● Yuri Botiuk, Partner, Pinsent Masons
OvERvIEw
180 DELEGATES ATTENDED 2015’S CONFERENCE REPRESENTING THE FOLLOWING ORGANISATIONS
Corporates & Traders
Acron
AgroinvestGroup
Alcatel Lucent
Chemieanlagenbau Chemnitz
Claas Group
DHL
EuroChem
Gama Industrial Plants
Gazprom
Gazpromneft
Inter RAO UES
Kinross Gold Corporation
Liberty House
Lukoil
Magnatek
Medsigroup
Megafon
Nord Gold
Norilsk Nickel
Novolipetsk Steel
Petroholland
Petropavlovsk Iron Ore
Phosagro
Polyus Gold
Power Machines
Rosatom
Rosneft
Rostech
Rusagro Group
Rusal
RZD International
Severstal
Sibur
Sportmaster
Suek
Tatneft
Technopromexport
Texho
TMK
Transmashholding
Turbomach
UAZ
Unipec
Uralkali
VimpelCom
Vorskla Steel
X5 Retail Group
Banks & Financiers
ABC International Bank (ABCIB)
Alfa Bank
Belagroprombank
Belarusbank
Belinvestbank
BHF-BANK
Citi
Commerzbank
Development bank of the Republic of Belarus
FC Otkritie
Gazprombank
HSBC
ING
International Investment Bank
JPMorgan Chase
KfW IPEX-Bank
Nomos Bank
Nordea
Promsvyazbank
Raiffeisen Bank International
RBS
Russneft
Sberbank
Societe Generale
Transcapital Bank
UBI Banca
UniCredit SpA
VTB Bank
Insurers & Risk Managers
Allianz Group Malakut Insurance Brokers
Lawyers
Kiap
Pinsent Masons
Reznik, Gagarin & Partners
Sullivan & Worcester
Solution Providers
Bolero International The Cool Connection
Non-bank Financiers
Atrafin
DF Deutsche Forfait
London Forfaiting Company
Siemens Financial Services
ECAs & Multilaterals
EKF
Euler Hermes
Exiar - Export Insurance Agency of Russia
Export-Import Bank of the Slovak Republic (Eximbanka SR)
Finnvera
Govt orgs & public bodies
ICC Russia Lugano Commodity Trading Association
Consultants
Fidinam IHS PWC
OvERvIEw
Russian corporates remain optimistic
The economic difficulties currently facing Russia have not dramatically affected the country’s companies, according to speakers at GTR’s 8th Russia and CIS Trade and Export Finance Conference.
Corporate panellists speaking at the conference explained that efficiency maximisation strategies started several years ago have made them better equipped to deal with the turmoil prompted by Western trade sanctions and record-low oil prices.
“Our strategy is based on increasing business efficiency and maximising profitability. From US$4bn working capital at the end of 2012, our goal since 2013 has been to reduce it by US$2bn by the end of 2016. We focused on advanced payment factoring. We started getting advanced payments, as one of the conditions of signing contracts,” said Artem Pozdnyakov, head of corporate finance at Norilsk Nickel.
Other panellists representing corporates such as Norgold, Tatneft and Rosatom also said they started cost efficiency programmes back in 2013, and the current crisis has not caused many issues.
Even at oil and gas companies, the mood is positive. “For oil producing companies it’s not the low oil prices which is the problem. The Russian government takes most of our revenue as taxes so it’s the state that loses more when prices are low, not the companies themselves.
“For companies it’s the long-term trend that matters. Currently, we have seen the prices go down but sooner or later the prices will reverse and we expect that to happen by June 2015; we are quite optimistic,” said Russneft head of corporate finance Arseniy Ulchenkov.
Difficult economic conditions have even had a positive impact for some Russian companies. At Norgold, head of treasury Georgy Smirnov explains that geopolitical instability
has helped to stop the drop in gold prices, and because most trade is made in dollars, the devaluation of local currencies has given the company a competitive advantage.
“A year before the crisis the gold prices had already fallen down significantly so we had to work on our working capital programme. In one year we minimised all possible costs and we are still doing that. The overall political instability affected the gold prices, which stopped slipping down even more.
“We are planning to invest in the construction of more mining facilities in Africa and we will develop one field in Russia. We have tested our estimates and with all the negative changes the project’s profitability has gone up. The negative impact we might have seen as individuals have not actually impacted us in the gold market,” he pointed out.
However, Russian companies, particularly state-owned, remain wary of a possible drop in investment. “What worries everyone is declining investment. As a state-owned company it’s a sensitive question. Whether it lasts six months or a year, our job is to minimise costs,” said Irina Danilova, head of treasury at Rosatom.
Out of all the corporate panellists speaking at the conference, Danilova was the only pessimistic one, pointing out that Rosatom is looking at diversifying funding methods to maintain working capital. “70% of Rosatom’s portfolio is in roubles, and the amount of lending won’t be very high with such high interest rates so banks should take a different approach,” she added.
In terms of trade flows, companies have seen a lot of demand from Southeast Asia, the Middle East and South America, but again don’t believe this is linked to the trade sanctions from Europe and the US.
“Our sales in Asia have doubled but it’s not due to the situation, just the general trend,” explained Poxdnyakov.
PRESS RELEASE
For more information please speak to a member of the GTR team or email events@gtreview.com
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India Trade & Export Finance Conference 2015February 12, 2015Taj Lands End Mumbai, India
GTR Mena Trade Finance Week 2015February 16-17, 2015: ConferenceFebruary 18, 2015: GTR Supply Chain MasterclassJumeirah Emirates Towers Dubai, UAE
Russia and CIS Trade & Export Finance Conference 2015February 17, 2015Baltschug Kempinski Moscow, Russia
MARCHAustralia Trade & Supply Chain Finance Conference 2015March 2-3, 2015: ConferenceMarch 4, 2015: GTR Supply Chain MasterclassSheraton on The Park Sydney, Australia
GTR Africa Trade Finance Week 2015March 11, 2015: GTR Supply Chain MasterclassMarch 12-13, 2015: ConferenceWestin Cape Town Cape Town, South Africa
Turkey Trade & Export Finance Conference 2015March 25-26, 2015Raffles Istanbul Istanbul, Turkey
APRILLatin America Trade Finance Conference 2015April 14-15, 2015Tivoli São Paulo São Paulo, Brazil
Indonesia Trade & Commodity Finance Conference 2015April 23, 2015Grand Hyatt Jakarta Jakarta, Indonesia
GTR Leaders in Trade Awards 2014 Charity Awards DinnerApril 30, 2015The Landmark London London, UK
MAYGTR Europe Trade & Export Finance Conference 2015May 5, 2015: GTR Supply Chain MasterclassMay 6, 2015: ConferencePanorama Deck Hamburg Hamburg, Germany
East Africa Trade & Commodity Finance Conference 2015May 14-15, 2015Windsor Golf Hotel & Country Club Nairobi, Kenya
JUNEGTR Asia Treasury & Supply Chain Finance Conference 2015w/c June 1, 2015Hong Kong
UK Trade & Export Finance Conference 2015June 9, 2015The ICC Birmingham, UK
North America Trade & Export Finance Conference 2015June 18, 2015The Convene Old Slip New York, US
SEPTEMBERGTR Asia Trade Finance Week 2015September 8-10, 2015Singapore
Global Commodity Trade Finance Conference 2015September 29, 2015Lugano Convention Centre Lugano, Switzerland
OCTOBERMexico Trade & Export Finance Conference 2015w/c October 5, 2015Mexico
Mauritius Trade Finance Conference 2015Mauritius
Black Sea Trade & Export Finance Conference 2015Bucharest, Romania
GTR Africa Trade & Infrastructure Finance Conference 2015w/c October 19, 2015London, UK
NOVEMBERWest Coast Trade & Export Finance Conference 2015w/c November 16, 2015San Jose, US
China Trade & Export Finance Conference 2015China
Nordic Region Trade & Export Finance Conference 2015Sweden
Malaysia Trade & Export Finance Conference 2015November 5, 2015Mandarin Oriental Kuala Lumpur, Malaysia
2015
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London
GTR Exporta Publishing & Events Ltd 4 Hillgate Place London SW12 9ER
Tel: (+44) 20 8673 9666 Fax: (+44) 20 8673 9662
Singapore
GTR Asia Exporta Asia Pte Ltd Level 30, 6 Battery Rd Singapore 049909
Tel: (+65) 6550 9876 Fax: (+65) 6550 9877
Hong Kong
GTR Asia Exporta Asia HK Limited 2/A Lee Wah Mansions 171-177 Hollywood Rd Sheung Wan, Hong Kong
Tel: +852 2915 0733 www.gtreview.com
NOTES
sponsorship opportunities
Beatrice BoldiniBusiness Development Manager bboldini@gtreview.com +44 (0)20 8772 3009
speaking opportunities
george MitchellSenior Conference Producer gmitchell@gtreview.com +44 (0)20 8772 3017
partnership & Media opportunities
grant naughtonMarketing Manager gnaughton@gtreview.com +44 (0)20 8772 3013
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