After a Long Break Russia-Venezuela Council of Entrepreneurs Met at the Russian Chamber of Commerce

The resumption of the activities of the Russia-Venezuela Council of Entrepreneurs will become an effective tool for adding dynamics to bilateral economic cooperation between the two countries, noted participants in the Council meeting, which took place on February 13 after a long break.

Welcoming the meeting participants, Vice President of the Russian Chamber of Commerce and Industry Vladimir Padalko noted that, despite the break in the activities of the Council, the Chamber did not stop its contacts with Venezuela, continuing to solve the main problems of bilateral economic activity, such as mutual settlements and logistics. According to him, the new chairman of the Council, head of the bank JSCB Eurofinance Mosnarbank, Sergei Nikolaevich Yarosh, is an “experienced, competent person” who will help solve many problems that have accumulated over the past time. Vladimir Padalko also expressed hope that it will be possible to revive work with Venezuela through the territorial chambers of commerce.

Representatives of territorial Chambers of Commerce and Industry and member companies participated in the meeting on video conference.

In his opening remarks, Sergei Yarosh noted the common position of Russia and Venezuela as countries under international sanctions. In this regard, he spoke about the activities of Eurofinance Mosnarbank, which was created in 2009 as a Russian-Venezuelan bank. “Throughout its history, the Bank has been committed to fulfilling its mission: to contribute to the strengthening of mutually beneficial economic cooperation between the two countries,” he emphasized. To date, the Bank has increased the volume of settlements with Venezuela in national currencies within the framework of existing and new bilateral projects in the field of civil aviation and the oil and gas sector. Settlements using cards of the MIR payment system have been established in Venezuela, reported Sergei Yarosh. He also recalled that direct flights remain between Russia and Venezuela.

Sergei Yarosh invited the meeting participants to become more actively involved in developing trade with Venezuela and expressed hope that the bank would become a center of attraction for all participants. Among the priorities, Sergey Yarosh named work with oil companies, operations for the supply of fertilizers, and information security. He also thanked the Russian Chamber of Commerce and Industry for participating in the resumption of the Council’s activities.

The meeting participants named eliminating the information vacuum about the conditions for doing business in this country as one of the council’s tasks. In particular, the General Director of the Russia-Venezuela Council of Entrepreneurs, Tatyana Mashkova, spoke about this.

The deputy director of the Department for the Development of Bilateral Cooperation of the Ministry of Economic Development of the Russian Federation, Oleg Kucheryavy, also spoke at the meeting, noting the importance of the work of the intergovernmental commission of the two countries. Deputy Director of the Department of Asia, Africa, Latin America of the Ministry of Industry and Trade of the Russian Federation Oleg Gorlov announced the opening of a trade mission of the Russian Federation in Venezuela and other friendly countries of Latin America.

The meeting participants were informed that June 2024 marks the 15th anniversary of the signing of the agreement on the establishment of the Russian-Venezuelan bank and in this regard, a number of events are planned, including on the sidelines of the St. Petersburg International Economic Forum.

By Peter Cheremushkin,
Press Service of the Russian Chamber of Commerce and Industry