Russia 101216 Basic Political Developments
CIS entering on final stage of talks on updated treaty on free trade area
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- Goods turnover between Kazakhstan, Russia and Belarus - $13.5
- Russian shipbuilders ask for $100 million to complete frigates for India
- UPDATE 2-Trader, bank probe missing grain in Ukraine, Russia
CIS entering on final stage of talks on updated treaty on free trade areahttp://www.interfax.com.ua/eng/main/56149/ The last round of talks on the updated agreement establishing a free trade area in the CIS will be held on December 21, Ukrainian Ambassador to Russia Volodymyr Yelchenko has said. "This area formally exists, the agreement has been signed by all the countries, but this free trade zone is still virtual," Yelchenko explained during a press club meeting in Kyiv on Wednesday. An updated agreement on free trade area in the CIS has been already finalized and the last round of talks is to take place on December 21, 2010, he said. The diplomat added that the experts would analyze the updated agreement on the free trade area so that it could start working next year. When asked about the prospects of Ukraine's accession to the Customs Union, Yelchenko said: "The Customs Union has not even started working, and we are already talking about the accession. One day we might find we need to join it, but surely not today." He also added that all the Customs Union's countries are not members of the WTO, while Ukraine has joined the organization. Therefore, in the case of Ukraine's accession to the Customs Union, they need to review the conditions stipulated in the agreement with the WTO, the ambassador said. 16.12.2010 Goods turnover between Kazakhstan, Russia and Belarus - $13.5http://www.blackseagrain.net/about-ukragroconsult/news-temp/goods-turnover-between-kazakhstan-russia-and-belarus-13.5 Goods turnover between Kazakhstan, Russia and Belarus for 10 months of 2010 has amounted to $13.5. The Minister of Economic Development and Trade of Kazakhstan, Zhanar Aytzhanova, said at a government session, the agency reports. "Foreign trade turnover, taking into account mutual trade with Russia and Belarus, increased in October, 2010 by 43.1 % and totaled $81 billion. Export of goods has increased by 52.6 % by the corresponding period of the last year and accounted for $51.4 billion. Import has been $29.6 billion and has increased by 29.1 %," Z. Aytzhanova informed. "The trade balance was positive and totaled $21.7 billion, having increased twice in comparison with the similar period." "For 10 months of 2010, goods turnover between Kazakhstan and other Customs Union member countries amounted to $13.5 billion, from which more than 90 % - with Russia. In comparison with the corresponding period of the last year, goods turnover with Russia has increased by 1.3 times and with Belarus - by 1.4 times." 11:07
http://www.interfax.com/news.asp Russian shipbuilders ask for $100 million to complete frigates for Indiahttp://en.rian.ru/russia/20101216/161799583.html 10:38 16/12/2010 Russian shipbuilding plant Yantar has asked Russia's state arms exporter, Rosoboronexport, for an additional $100 million to conclude the construction of three frigates for the Indian Navy, Russian business daily Kommersant said on Thursday. A $1.6-billion contract on the construction of the ships was signed in summer 2006. Although the ships were scheduled for completion by 2011-2012, a lack of funds has delayed construction, the paper said. "The lack of funding is linked to the VAT refund problem: we will only receive [the money] after the frigates have been supplied to India," Igor Orlov, the director general of the Kaliningrad-based plant, told the paper. A source close to Rosoboronexport told Kommersant the Indian side was aware of the issue and was treating it "with understanding." "We are not considering increasing the contract price for India," the source said. "We propose the problem be settled using domestic reserves, including those of the United Shipbuilding Corporation." This is the second time Russia has run into difficulties with Indian contracts. The price of the Admiral Gorshkov aircraft carrier has been raised almost twice, and its supply date was put back from 2008 to late 2012. MOSCOW, December 16 (RIA Novosti) Sagem and Rosoboronexport to create joint venture for inertial navigation systems http://www.defpro.com/news/details/20631/?SID=9b4035c2666bfc2281276ce44828aab9 08:55 GMT, December 16, 2010 Moscow
The agreement was signed by Ivan Goncharenko, deputy director general of Rosoboronexport and Jean-Lin Fournereaux, Chairman and CEO of Sagem, in a ceremony attended by the heads of government of the Russian Federation and France. The new company will be based in the Russian Federation, with the Russian partner holding 51% and the French partner 49% of the capital. Commenting on this agreement, Ivan Goncharenko said: “ I firmly believe that this new French-Russian company will not only strengthen and expand the military and technical collaboration between our two countries, but also open new and mutually profitable prospects for the development and manufacture of high-tech products, as well as exchanges of advanced technologies. ” Jean-Lin Fournereaux added: “This new venture clearly symbolizes the favored relations that have developed between our two countries, at both the industry and government levels.” UPDATE 2-Trader, bank probe missing grain in Ukraine, Russiahttp://www.reuters.com/article/idUSLDE6BE1SO20101215 Wed, Dec 15 2010 * Gran Trade says grains used as collateral worth $30 mln * Says complaints include Bureau Veritas (BVI.PA: Quote, Profile, Research, Stock Buzz) branch * Inspectors still barred from silo in Russia By Sybille de La Hamaide and Aleksandras Budrys PARIS/MOSCOW, Dec 15 (Reuters) - A Swiss grain trader said on Wednesday it had asked Ukraine to probe the disappearance of $30 million worth of grain stocks, a day after a French bank said it was investigating missing grain in neighbouring Russia. Russia and Ukraine, among the world's largest grain exporters last year, were severely hit by the worst drought in decades this year, with Russia considering large imports and Ukraine drastically limiting its exports. Swiss-based Gran Trade said on Wednesday it had filed complaints against several Ukrainian grain suppliers and Inspectorate, the commodity inspection branch of Bureau Veritas (BVI.PA: Quote, Profile, Research, Stock Buzz), which had certified that grain was stored in warehouses while being used as collateral for loans with banks. Trading houses buy grains, which can sometimes remain stored for months before delivery, and receive a certificate from inspecting companies that the grain has been put in storage. The certificate is used as collateral for bank loans. "I have submitted complaints in Ukraine in September with the general prosecutor," Gran Trade director Olivier Broun told Reuters. These concerned grain certificates for some 180,000 tonnes of feed grains worth nearly $30 million, he said. Inspectorate's Company Secretary David Lappage, who oversees compliance, insurance and claims management, confirmed the existence of a complaint about grains in Ukraine. "There has been a complaint but no legal action being filed," he told Reuters from London. He declined to comment on Inspectorate's response to the complaint but confirmed his company had been appointed by Gran Trade to go to 11 warehouses and asked to issue certificates. "As a statement that is correct. Our Ukrainian company received those instructions from Gran Trade," he said. He declined to give any more information on these certificates. On Tuesday, the Swiss branch of BNP Paribas (BNPP.PA: Quote, Profile, Research, Stock Buzz) said it was investigating the whereabouts of grain stocks in Russia that had also been used as collateral in bank loans. Talk had circulated grain markets in recent days that several international banks, a certification company and a Russian grain firm were at the centre of an incident in which banks could have lost as much as $100 million, with BNP Paribas shouldering the bulk of it with $80 million. [ID:nLDE6BD27H] BNP Paribas Switzerland's spokesman said it could not verify, invalidate or confirm these figures. IMMEDIATE LOAN REPAYMENT On Monday, Certification company Control Union International Commodity said its auditors were being denied access by one of Russia's biggest grain companies, Rosinteragroservis (RIAS), to a grain silo it had certified. [ID:nLDE6BC25I] RIAS did not immediately respond to requests for comment but a source familiar with the attempt to verify the stocks said the inspectors were still barred from the silo on Wednesday. Arkady Zlochevsky, president of the Russian Grain Union, the industry lobby, said he was unaware of other cases where a company working on the Russian market denied access to its silos. "If an inspector is not admitted to a warehouse, this automatically results in a demand to repay the loan immediately," Zlochevsky added. Kirill Podolsky, CEO of the Valars Group, a major grain trader with divisions in Russia, Ukraine and Kazakhstan, also said he did not believe the denial of access to inspectors seeking to examine grain stocks was widespread in Russia. Krasnodar-based, privately owned RIAS, is 164th in Forbes' Russian top 200 private companies' list. According to data from Valars Group, RIAS was Russia's No.2 grain exporter in July-December 2009 after the International Grain Co, the Russian unit of Glencore. It shipped 1.27 million tonnes of grain in the period, or 10 percent of the total Russian grain exports. Gran Trade said it had launched several complaints in Ukraine that did not succeed. The latest complaint, which now involves more parties, was filed in September 2010 in Kiev, Broun said. He declined to name the banks or the Ukrainian suppliers involved. (Additional reporting by Melissa Akin in Moscow, writing by Dmitry Zhdannikov, editing by Anthony Barker)
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