1. New opportunities for you in the Russian & CIS trade finance market
In the build up to the 6th Annual Structured Trade and Export Finance in Russia and the CIS Conference we
asked questions at the forefront of industry leader’s minds:
Where is the Russian economy headed in 2013? How will macroeconomic trends impact
banks’ abilities to finance trade?
What impact will WTO accession have on Russian trade and trade finance?
What is the outlook for the Russian trade finance market in 2013 and beyond? Which will be
the key industries for growth?
Discover what Alexander Morozov, Chief Economist, Russia and CIS, OO HSBC (RR) and Sergey Sutyrin,
Head of World Economy Department, St. Petersburg State University, Chair Holder, World Trade
Organisation thought on these issues on pages 2 & 3 of our NEW e-book.
To register or for more information...
1. Visit www.euromoneyseminars.com/STEF-RU The market in one
2. Contact our events team on (UK) +44 (0)20 7779 7222
place
3. Email kproverbs@euromoneyplc.com

2. Alexander Morozov, Chief Economist, Russia and CIS, OO HSBC (RR)
Alexander Morozov, Chief Economist, Russia and CIS Alexander Morozov joined HSBC in
September 2005. Prior to this, he has held senior positions at the World Bank and Russian
Academy of Sciences, specialising in monetary and fiscal issues concerning the countries of the
former Soviet Union (FSU). He is based in Moscow from where he also covers the FSU
countries. Alexander holds a Ph.D.(Econ) from the Institute of Economics, Russian Academy of
Sciences. He has numerous publications in Russian and foreign economic journals.
Where is the Russian economy headed in 2013? How will macroeconomic trends impact banks’ abilities to finance
trade?
After economic growth moderation to 3.4% in 2012, Russian GDP will likely ease its growth to 2.5% this year. This is bad
news. The good news is that the Russian economy has already stabilized its growth. Moreover, there are good chances
for some bottoming out in the second half of the year. Of course, weaker economic growth would likely weigh on
foreign trade growth that nevertheless should outpace GDP growth. Since private consumption will likely remain the key
growth driver of the Russian economy this year, wholesale and retail trade growth should remain robust. These factors
should retain banks' interest in financing trade.
What impact will WTO accession have on Russian trade and trade finance?
WTO has very minimum impact on Russia and Russian trade in the short-term. Apart from a very few goods, immediate
changes in tariffs upon Russia's accession to WTO were minimal. Yet, over the longer-term the expected standardization
of internal regulations with those of WTO and liberalization of foreign investment in business services should boost
economic growth and trade in Russia. As a result, the degree of openness of the Russian economy should increase, with
trade and trade finance playing a more important role in this process.
What is the outlook for the Russian trade finance market in 2013 and beyond? Which will be the key industries for
growth?
The Russian economic growth in 2013-14 will be driven by domestic demand; private consumption, in particular. It
follows that those industries that meet consumption demand will demonstrate the fastest growth. Non-food retail,
telecoms, cars, housing are examples of such industries. This sets up a good base for trade finance growth. I expect that
banks will not miss good business opportunities in this market segment.
What are the prospects for the Russian economy in 2013? Alexander Morozov will debate the impact of macroeconomic
changes on trade and export finance.
To register or for more information...
1. Visit www.euromoneyseminars.com/STEF-RU The market in one
2. Contact our events team on (UK) +44 (0)20 7779 7222
place
3. Email kproverbs@euromoneyplc.com

3. Sergey Sutyrin, Head of World Economy Department, St. Petersburg State University, Chair
Holder, World Trade Organisation
Sergei Sutyrin is Professor and World Economy Department Head at St. Petersburg State
University (SPSU). During last three years he also has led one (and the only on the territory of
former Soviet Union) of fifteen WTO Chairs nominated by the World Trade Organization in various
regions of the globe. In addition to his professorship at SPSU Sutyrin has delivered lectures in
several Universities in Finland, Germany, Japan. Research interests of Prof. Sutyrin include Russian
foreign economic relations, international trading system and global governance. He is an author of
more than 200 books, pamphlets and articles in different fields of economic theory. Sutyrin has been involved in many
research projects funded in particular by EU, DAAD, CIDA, International Trading Center.
Where is the Russian economy headed in 2013? How will macroeconomic trends impact banks’ abilities to finance
trade?
According to what might be called more or less realistic forecasts, Russian GDP in 2013 will demonstrate modest growth
of about 3.5%. Roughly the same dynamics in 2012 was accompanied by 18.9% expansion of commercial banks’ assets
and 12.7% increase in credits granted to non-financial entities. We might expect similar trend to continue this year with
respective positive impact for trade finance. Extra contribution could be provided by EXIAR.
What impact will WTO accession have on Russian trade and trade finance?
There are good reasons to believe that Russia’s accession to the WTO will generate additional incentives and
opportunities for both export and import operations. Despite the fact that in 2012 growth of Russian foreign trade (as
well as global trade in general) slowed down in comparison with 2011, it most probably will continue to expand.
What is the outlook for the Russian trade finance market in 2013 and beyond? Which will be the key industries for
growth?
International experience clearly suggests that in many instances foreign trade tends to carry larger financial constraints
than domestic one. Under the circumstances demand for a variety of trade finance instruments to support increasing
flow of international transactions has to be strong enough. It is not by chance that in Russian case trade finance market
was on a rise for last couple of years. Prospects for 2013 are modestly positive. As for industrial composition, with
respect to import – machines and industrial equipment are major candidates; with respect to export – metallurgy,
machine building, aircraft construction, and power engineering could be especially interested in trade finance.
Sergey Sutyrin will be giving the keynote address on 18th April discussing whether Russia’s accession into the WTO is a
win win for all?
To register or for more information...
1. Visit www.euromoneyseminars.com/STEF-RU The market in one
2. Contact our events team on (UK) +44 (0)20 7779 7222
place
3. Email kproverbs@euromoneyplc.com

4. Would you like to speak to the people shaping the industry?
With over 200 delegates and 100 companies represented, the 6th Annual Structured Trade and Export Finance in Russia
and the CIS Conference will be the place for you to network with the regions key players, discuss the latest news and
what we are all here for, to get deals done, all under one roof
Gain cutting edge market knowledge from industry leaders and debate strategies for handling market challenges
Take advantage of unparalleled networking opportunities at the informal settings provided by lunches,
networking breaks and cocktail receptions to build new relationships and strengthen existing connections
Discuss what opportunities will arise in 2013 and beyond, and define your business strategy
With unparalleled networking, topical debate and the most influential names attending, join us at the
Hotel Baltschug Kempinski, Moscow, Russia between 18th & 19th April 2013.
Register your place today by emailing kproverbs@euromoneyplc.com calling (UK) +44 (0)20 7779 7222 or
visit www.euromoneyseminars.com/STEF-RU
To register or for more information...
1. Visit www.euromoneyseminars.com/STEF-RU The market in one
2. Contact our events team on (UK) +44 (0)20 7779 7222
place
please contact us by emailing kproverbs@euromoneyplc.com, calling (UK) +44 (0)20 7779 7222 or visiting
3. Email kproverbs@euromoneyplc.com
our websiteplease contact us by emailing kproverbs@euromoneyplc.com, calling (UK) +44 (0)20 7779 7222