June 2019 – Page 2 – Russia Singapore Business Council

Russia-Singapore Business Council and Novikombank signed the Cooperation Agreement

On July 7, 2019 on the margins of the SPIEF a Cooperation Agreement was signed between the Russia-Singapore Business Council and Novikombank.

The main area for cooperation will be joint development and use of the infrastructure of the Russia-Singapore Business Council in Russia and Singapore, including the digital information and service B2B Platform RSTrade. For today, the first stage of the integration of RSTrade with the Singapore CamelONE logistics platform has been completed. It makes it possible to automate the entire transaction process, from purchasing goods to door-to-door delivery. Within the next stage banking services of Novikombank will be integrated with the platform interface. This will mean another step to the full automation of trade flows between the EAEU and ASEAN.

It is also planned to implement joint projects on formation of new digital financial services. The parties seek to consolidate existing, as well as search and develop new long-term partnerships in Southeast Asia.

Sergey Pronin and Desmond Tay joined the EASTBOUND jury

On June 6-7, 2019 the second pitch session of the open international competition of start-ups EASTBOUND has been held within the SPIEF. The competition is aimed on supporting the efforts of Russian technology companies to enter international markets. June 7 has been announced as the Day of Southeast Asia. Participants of the competition – young Russian startups in the field of artificial intelligence – have presented their projects to potential investors from Singapore and other SEA countries. The jury of the competition has included Sergey Pronin, Deputy Chairman – Executive Director, Russia-Singapore Business Council, and Desmond Tay, CEO, vCargo Cloud.

Among the projects submitted to the competition have been developments involving the use of information technologies and artificial intelligence in various fields, such as the construction industry, marketing analysis, digital commerce and banking, etc.

The members of the jury have highly appreciated the submitted projects. They have also noted the importance of supporting similar initiatives for their introduction to international markets.

Interview of Sergey Pronin and Desmond Tay to RBC TV Channel

On June 7, 2019 Sergey Pronin (Deputy Chairman – Executive Director, Russia-Singapore Business Council) and Desmond Tay (CEO, vCargo Cloud) gave a joint interview to RBC TV Channel.

Mr Pronin and Mr tay told about the model for promoting Russian technoloies in the Asia-Pacific region. The model is based on the combination of two ways of the presence of Russian companies in Asia – physical and virtual. The virtual way is possible through the work of RSTrade and CamelONE platforms.

Trade and service information B2B platform RSTrade is operated by the executive structure of the Russia-Singapore Business Council. For today more than 80 000 companied from 23 countries are represented on the Platform. Singapore platform CamelONE specializes in providing logistics services and controls 12% of the logistics market in Southeast Asia. The decision to integrate the platforms was made at the end of 2018, and at the moment we can talk about the successful completion of the first phase of the project. The next step should be the integration of banking and insurance services. The integrated interface will allow transferring the entire transaction process to digital space, from purchasing goods to door-to-door delivery, which is a step towards full automation of trade flows between the EAEU and ASEAN.

Physical presence of Russian companies in Asia is provided by the Centre for Overseas Promotion of Russian High-Tech Companies and the Presentation of investment projects in Singapore. The Centre provides support to Russian companies in search for local partners and promotion to the markets of Southeast Asia. An important aim is to find partners in Singapore and other countries identifying prospects for the development of mutually beneficial cooperation. A permanent exhibition of the showroom of Russian technologies has been launched in a format of Digital Experience Centre. In the future it is planned to create similar centers in other countries of the Asia-Pacific region, primarily in Korea and Japan.

For reference

RBC is the largest non-state media holding in Russia, including the eponymous television channel, magazine, newspaper and news agency. RBC has traditionally focused on topical business information, positioning itself as an information platform for business representatives.

Platform RSTrade represented at the booth of the State Corporation Rostec

State Corporation Rostec actively participates in SPIEF-2019. Key projects of the Corporation within the framework of the implementation of National projects have been presented at its booth.

One of such initiatives is a digital platform RSTrade, which facilitates implementing target indicators of the National Project “International Cooperation and Export”.

Platform RSTrade is operated by RSTradehouse LLC – executive structure of the Russia-Singapore Business Council, established at the initiative of Rostec. Russian Export Centre included RSTradehouse LLC the list of agents for facilitating the withdrawal of Russian companies to the markets of ASEAN countries.

Platform RSTrade is fully developed in Russia. It is integrated with he the State Industry Information System and with CamelONE international electronic platform (operated by vCargo Cloud, Singapore). To date, more than 80 thousand companies from 23 countries are represented on the Platform. The development of RSTrade contributes to the implementation of the National Project “International Cooperation and Export”, solving the tasks of expanding the range of Russian non-resource-based exports and including a larger number of companies in foreign trade, creating additional opportunities for the development of international cooperation involving Russian industrial and transport enterprises as well as service providers. Within international projects, the resource of the integrated solution of RSTrade and CamelONE gives an opportunity for cooperation between companies from the EAEU, Russia and Asia.

Participation of Sergey Pronin and Desmond Tay in the strategy session “Strategy for the Future of the Eurasian Economic Union”

On June 6, 2019, within the framework of SPIEF-2019, was held a strategic session “Strategy for the Future of the Eurasian Economic Union”. The discussion was devoted to the influence of the latest trends, such as the digital transformation of the economy and the formation of a high-tech and innovative Eurasian space, on the prospects for further development of the EAEU.

Among the announced participants was Desmond Tay, co-founder and CEO of the Singapore company vCargo Cloud. Together with VCC Russia-Singapore Business Council is currently implementing a project on integration of trade&service and logistic digital platforms. Mr Tay and Sergey Pronin (Executive Director, RSBC) presented the project details to Viktor Christenko, Chairman, the EAEU Business Council, and Koh Poh Koon, Senior Minister of State, Singapore. Viktor Christenko and Koh Poh Koon welcomed the decision and said that they had been monitoring its implementation and were supporting joint bilateral initiatives.

Russia-Singapore Business Council and the National Association of Technology Transfer signed a Cooperation Agreement

On June 6, 2019, a Cooperation Agreement was signed between the Russia-Singapore Business Council and the National Association of Technology Transfer (NATT) on the fields of the St. Petersburg International Economic Forum (SPIEF-2019). The agreement was signed at the booth of the State Corporation Rostec.

The agreement provides for cooperation between RSBC and NATT in establishing effective communication between expert communities and business circles of the Russian Federation and the Republic of Singapore in the field of developing technology transfer. Organizations will join forces to expand and facilitate international industrial cooperation and highly efficient exchange of best practices.

Cooperation of RSBC and NATT is expected to be the next step in the development of effective cooperation between Russia and Singapore and to contribute to the promotion of Russian high technologies in the markets of Southeast Asia and the Asia-Pacific countries.

Russia-Singapore Business Council and vCargo Cloud met with the Japan Trade Association with Russia and the Newly Independent States (ROTOBO)

A tripartite meeting of the Russia-Singapore Business Council, vCargo Cloud and the Japanese Association for Trade with Russia and the Newly Independent States (ROTOBO) was held at SPIEF-2019.
The negotiations were held by Sergey Pronin (Deputy Chairman – Executive Director, Russia-Singapore Business Council), Desmond Tay (co-founder and CEO, vCargo Cloud) and Saito Daisuke (head of the ROTOBO Moscow office).
The main outcome of the meeting was an agreement on the mutual exchange of information on the production and technological capabilities of companies from Russia and Japan, as well as on the involvement of third countries, primarily Singapore, in Russian-Japanese cooperation. The key tool for this will be the digital platform RSTrade (operated by the executive structure of the Russia-Singapore Business Council) and its integrated solution with CamelONE platform (operated by vCargo Cloud).
The parties agreed to provide the tools of an integrated solution based on RSTrade in the information resources of the association. The platform RSTrade, in turn, will contain information about Japanese companies and their products and services. In addition, it was decided to hold a joint event in Japan in 2020 to introduce Russian business.
The Japanese side expressed interest in building multi-transaction chains with business associations from other regions, including the countries of the EAEU and the EU, using the Platform’s tools for this purpose.

For reference
The Japanese Association for Trade with Russia and the Newly Independent States (ROTOBO) has existed since 1967 (until the collapse of the USSR, it was called the Japanese Association for Trade with the USSR and Eastern Europe). This association is the only organization in Japan that promotes business cooperation between Japanese enterprises and the former socialist states of Eurasia. ROTOBO’s partner countries are Russia, Ukraine, Belarus, Moldova, Kazakhstan, Kyrgyzstan, Uzbekistan, Turkmenistan, Tajikistan, Azerbaijan, Armenia, Georgia and Mongolia. ROTOBO includes almost 200 members, including trading companies, enterprises of various industries, banks, fund companies, industry associations, agencies for the transport of passengers and goods, as well as local governments. ROTOBO enjoys a well-deserved reputation in business circles and is closely associated in its activities with government organizations both in Japan and in partner countries.

The decision to integrate the Russian trade and service information B2B platform RSTrade and the Singapore logistics platform CamelONE was made at the end of 2018. At the moment, the first integration stage has been successfully completed, and the banking and insurance services are also expected to be in the future. The integrated interface will allow transferring the entire transaction process to digital space, from purchasing goods to door-to-door delivery, which is a step towards full automation of trade flows between the EAEU and ASEAN. According to estimates by Bloomberg, the RSTrade and CamelONE integration solution for the automation of international trade and international multimodal transport may have global importance in the near future.

Announcement of the Russia-Singapore Business Council events at the SPIEF-2019

The St. Petersburg International Economic Forum (SPIEF-2019), one of the most important events in the world of economics and business, will be held on June 6-8, 2019 in St. Petersburg. The Forum is rightfully considered to be one of the leading platforms for communication between representatives of the business community, where economic issues that have not only national, but also global importance are discussed.

Experts and partners of the Russia-Singapore Business Council will take an active part in the work of the Forum.

Below you can find a list of key events for the Business Council at SPIEF-2019.

JUNE 6

Strategy session “Strategy for the Future of the Eurasian Economic Union”

Within the framework of the strategic session, it is planned to discuss the prospects for further development of the EAEU, taking into account the attention now paid to the formation of high-tech and innovative Eurasian space, the digital transformation of economies and stimulation of business activity. Desmond Tay, co-founder and CEO of the Singapore-based company vCargo Cloud (VCC), will speak at the session. VCC and the Russia-Singapore Business Council are successfully implementing a project to integrate two platforms: the B2B trade and service platform RSTrade, which is operated by the executive structure of the Council – RSTradehouse LLC, and CamelONE logistics platform, operated by VCC. The integrated interface will allow transferring the entire transaction process to digital space, from purchasing goods to door-to-door delivery, which is a step towards full automation of trade flows between the EAEU and ASEAN.

Negotiations with the Japanese Association for Trade with Russia and the Newly Independent States (ROTOBO)

One of the most important tasks of the Business Council is the development of mutually beneficial cooperation between the business circles of Russia not only with Singapore and ASEAN countries, but also with all states of the Asia-Pacific region, primarily with Japan – one of the recognized world leaders in high technologies.

Representatives of RSBC will discuss the prospects of cooperation between Russian and Japanese manufacturing companies with Mr. Saito Daisuke, the head of the Moscow office of the Japanese Association for Trade with Russia and the new independent states (ROTOBO). This association is the only organization in Japan that promotes business cooperation between Japanese enterprises and the former socialist states of Eurasia.

Signing of the Cooperation Agreement with the National Association of Technology Transfer (NATT)

Signing of the Cooperation Agreement with the Non-Commercial Partnership “International Association of Developers, Manufacturers and Users of Medical Equipment

The subject of the agreement will be cooperation in order to promote the products of the Partnership using the trade and service information B2B platform RSTrade. A special digital specialized catalog will be created on the Platform in accordance with the classifier of medical equipment provided by the Partnership.

Negotiations with the Association of Small and Medium-Sized Exporters of Russia

The subject of negotiations will be mutual information exchange and support in promoting joint projects, including the promotion of digital B2B Platform RSTrade to the markets of Russian regions.

JUNE 7

Signing of the Cooperation Agreement with NOVIKOMBANK

The agreement provides for cooperation in the sphere of joint development and use of the infrastructure of the Russia-Singapore Business Council in Russia and Singapore, including the digital information and service B2B Platform RSTrade. The services of “NOVIKOMBANK” will be integrated into the platform interface. It is planned to implement joint projects on formation of new digital financial services. The parties seek to consolidate existing, as well as search and develop new long-term partnerships in Southeast Asia.

EASTBOUND competition

The second pitch session of the open international competition of start-ups EASTBOUND will be held on the margins of the Forum. The goal of EASTBOUND is to support the efforts of Russian technology companies to enter international markets. Participants in the competition – young Russian startups in the field of artificial intelligence – will be able to present their projects to potential investors from China and Singapore. The jury, which is going to investigate startups focused on Southeast Asia, will incude Sergey Pronin, Deputy Chairman – Executive Director, Russia-Singapore Business Council, and Desmond Tay, CEO, vCargo Cloud.

The competition is held jointly with Skolkovo and Roskongress foundations with the participation of a number of foreign partners.

Interview of Sergey Pronin and Desmond Tay to RBC TV Channel

In his interview, Sergey Pronin, Deputy Chairman – Executive Director, Russia-Singapore Business Council, and Desmond Tay, CEO, vCargo Cloud, will talk about new horizons of business cooperation, which opens up the development of information technologies, as well as present a joint project of the Russia-Singapore Business Council and vCargo Cloud to integrate RSTrade and CamelONE platforms operated by these organizations.

JUNE 8

Desmond Tay participating in the discussion “EAEU-ASEAN”

Within the framework of the discussion, possible prospects for partnership between the EAEU and ASEAN will be discussed, taking into account the opportunities offered by the Memorandum of Economic Cooperation, signed in November 2018. The possibilities and advantages that the EAEU opens up for business development, attracting foreign partners and investments, prospects for the development of trade between the blocks, as well as problems and challenges facing the development of trade and business interaction between the EAEU and ASEAN countries will be examined

The discussion will be attended by representatives of business circles and large business associations. One of the speakers will be Desmond Tay, CEO, vCargo Cloud.

At the exhibition stand of the State Corporation Rostec, one of the initiators of the creation and active member of the Russia-Singapore Business Council, guests of the forum can familiarize themselves with the interface of the international information and service B2B Platform RSTrade.

Platform is fully developed in Russia. It is operated by the executive structure of the Russia-Singapore Business Council – RSTradehouse LLC, which is included in the list of agents of the Russian Export Center for facilitating the withdrawal of Russian companies to the markets of ASEAN countries.

Platform RSTrade is integrated with the the State Industry Information System and with CamelONE international electronic platform (operated by vCargo Cloud, Singapore). To date, more than 80 thousand companies from 23 countries are represented on the Platform.

The development of RSTrade contributes to the implementation of the National Project “International Cooperation and Export”, solving the tasks of expanding the range of Russian non-resource-based exports and including a larger number of companies in foreign trade, creating additional opportunities for the development of international cooperation involving Russian industrial and transport enterprises as well as service providers. According to estimates by Bloomberg, the RSTrade and CamelONE integrated solution for the automation of international trade and multimodal transport may have global importance in the near future.

Round table “EAEU and ASEAN digital logistics: from the transport corridor to a global approach” was held in EEC

On June 4, 2019 in EEC was held a round table dedicated to the digitalization of logistics.

The round table was opened by the Member of the Board (Minister) of the EEC on domestic markets, information and infocomm Karine Minasyan. Ms Minasyan noted the potential of ASEAN with its more than 640 million population and the 5^th economy of the world, which make the region attractive for collaboration from the point of view of the EAEU. ASEAN countries as well as the EAEU countries take steps towards free trade zones development. There is already an FTA with Vietnam, and the preparations for signing such agreement with Singapore are being completed. Technological competencies of Singapore government and companies as well as their experience in developing huge infrastructure projects, i.a. in the field of digitalization and creating “one window” tools, might also be useful for implementing strategical projects of the EAEU. In particular, Ms Minasyan noticed that “within the implementation of the EAEU digital agenda to 2025 there is noted the integration of digital ecosystems, including integration with global, regional and sectoral ecosystems. Concept of the EAEU digital transport corridors is being elaborated. Over-arching processes caused by digital transformations are cross-border. We regard Singapore as an entry point for further interface between digital ecosystems, which appear both in our economic Union and in ASEAN countries”.

Central issues of discussion became the development of digital transport corridors within EAEU, interface of these corridors with logistic routes of neighbor countries and big projects, such as One Belt, One Road, Northern Sea Route, North – South corridor, etc. These questions were viewed through the prism and in connection with other digital projects of the EEC: e-commerce, Eurasian Technology Transfer, Industrial Cooperation and Subcontracting Net, etc.

Among the participants of the discussion, apart from the EEC representatives, were top managers and experts from transport, insurance, service companies, logistic and compliance associations, custom brokers.

The discussion started with the address of Desmond Tay, co-founder and CEO of the Singapore company vCargo Cloud. Mr Tay briefly outlined similar projects in which his company has participated. In further details he described the solution which is implemented on the first step of the integration between digital platforms RSTrade (operated by RSTradehouse LLC, executive structure of the Russia-Singapore Business Council) and CamelONE (operated by vCargo Cloud). The integrated solution provides an opportunity to bring together manufacturers, buyers and companies from different countries providing logistics and other services for foreign economic activities – for buying and selling as well as for getting delivery, insurance and other services. Within the second step of the integration it is planned to integrate payment services as well as deal insurance and provision of contract manufacturing services (which are implemented on the Russian side) to users from ASEAN countries. Mr Tay emphasized: “Within the second step of the integration guarantee schemes will be implemented. Of course, letters of credit are already in use. But this is expensive and slows the expansion of foreign economic activities. There will still be companies committed to such perceptions and principles, and we will work with them. But more and more companies will use FinTech mechanisms, which are alredady being actively implemented in Singapore and will soon be demanded in the EAEU countries. This will expand opportunities for interaction of the EAEU companies with ASEAN countries”.

RSTradehouse LLC CEO Sergey Pronin focused on features of multimodal solution, which makes it possible for different service providers to fill one order and to provide the delivery from door to door. Within international projects, this gives an opportunity for cooperation between companies from the EAEU, Russia and Asia. Sergey Pronin specially emphasized the importance of those consortiums, in which EEC and personally Karine Minasyan are involved to implement the EAEU digital agenda. “Interaction of national, supranational and business structures within the implementation of the EEC digital projects is one of the factors of their success. Our integrated solution will contribute to development of digital interaction between not only Russia and Singapore. It might become a kind of a prologue to possible integration of the EAEU and ASEAN ecosystems”.

In the end of the round table, the work of the integrated platform interface was demonstrated in real time. On the part of the Singapore company, the goods were “purchased” by a Russian manufacturer. The delivery was carried out and confirmed by two logistics companies (Russian by land and Singapore by sea).

The round table met the expectations of the participants. It really became a platform where current issues were discussed and recommendations were developed, how to modernize and improve the project, and which development directions are priorities for it.

Maxim Bagaev was appointed Head of the Representative Office of the Russia-Singapore Business Council in the Samara Region

The decision on appointment was made during the General Meeting of the Russia-Singapore Business Council, which was held on May 22, 2019 in the Chamber of Commerce and Industry of the Russian Federation.

Since 2008, Maksim Nikolaevich has been holding the position of Regional Director of JSC YUSAR+. Previously, Mr. Bagaev held senior positions at CJSC JEMYS-RusBITech, LLC RT-INFORM, participated in the development and implementation of regional and federal programmes in the field of health informatization, production automation, etc. Maxim Nikolayevich is also actively involved in social and sports projects and he is the regional representative and instructor of the Russian Federation of Kyokushin.