EAEU-ASEAN – Russia Singapore Business Council

Russia-Singapore Business Council and vCargo Cloud hold talks with EPINDUO

Russia-Singapore Business Council and vCargo Cloud held tripartite negotiations with representatives of EPINDUO, the largest platform for the sale of Russian goods in China, on the fields of SPIEF-2019.

During the negotiations, various areas of possible cooperation were discussed. In the B2B segment, the Chinese side was most interested in the presentation of products of Chinese manufacturers on the RSTrade platform, especially products of the manufactutrers that belong to the Sirius group, i.e. specializing primarily in the field of energy and electronics. In the B2C segment, the use of logistics tools for the integration solution of the RSTrade and CamelONE platforms for the supply of food to China from Russia was discussed.

The prospects for cooperation in the field of engineering and manufacturing, including contract manufacturing, were also negotiated. The Chinese side expressed interest in expanding the existing cooperation with enterprises of the State Corporation Rostec and other Russian companies specializing in the production and supply of equipment for the power industry, solar energy and biotechnology.

EPINDUO is a leading Chinese company selling Russian goods. Its cooperation with the Russia-Singapore Business Council and vCargo Cloud might become a new stage in the development of digital cross-border trade on the EAEU-China-ASEAN route.

Desmond Tay took part in in the discussion “EAEU-ASEAN”

On June 8, on the final day of SPIEF-2019, the EAEU-ASEAN business dialogue was held. Within the framework of the discussion, possible prospects for partnership between the EAEU and ASEAN were 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 were examined.

Desmond Tay, co-founder and CEO of the Singapore-based company vCargo Cloud, took part in the discussion. Russia-Singapore Business Council actively cooperates with vCargo Cloud in the integration of the Russian trade and service B2B platform RSTrade and the logistics platform CamelONE, which is managed by vCargo Cloud and currently controls 12% of the logistics services market in Southeast Asia.

In his speech, Mr Tay noted the importance of digital platforms for the private sector, i.a. for companies involved in trade between the EAEU and ASEAN. In his opinion, government and supra-government structures in both regions should promote and encourage such initiatives. As an example of a digital platform that can contribute to the effective interaction of two units in the field of digital commerce, Mr Tay cited the platform RSTrade.

Mr Tay noted that the three key areas in the operation of any digital platform were compliance, logistics and the financial sector. In the case of compliance, this refers to the active interaction of platforms with government agencies and organizations, primarily with the customs services of various countries. In the field of logistics, the key task is to reduce transportation costs. Tools of the financial sector also need to be developed and optimized – for example, recently there has clearly been a tendency to abandon traditional bulky tools, such as a letter of credit, in favor of financial technologies (FinTech).

At the end of his speech, Mr Tay stressed that digital platforms could be of great importance for small and medium-sized businesses in terms of improving their competitiveness.

Russia-Singapore Business Council and Non-commercial partnership “International Association of Developers, Manufacturers and Users of Medical Equipment” signed the Cooperation Agreement

Russia-Singapore Business Council and Non-commercial partnership “International Association of Developers, Manufacturers and Users of Medical Equipment” (IAMT) signed a Cooperation Agreement.

The Agreement was signed within the SPIEF-2019.

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

IAMT unites organizations working in the field of medical devices circulation. At present, organizations – members of IAMT produce in total more than 8000 items of medical devices. IAMT actively cooperates with the Ministry of Industry and Trade, the Ministry of Health of the Russian Federation, Roszdravnadzor, the Chamber of Commerce, as well as with medical institutions of the Russian Federation and other countries. The use of the resources of the platform RSTrade, integrated with the Singapore logistics platform CamelONE, will open IAMT wide opportunities to enter the markets of Southeast Asia and Asia-Pacific countries.

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.