The meeting of the task force of the Advisory Council for Foreign Investments in Russia (FIAC)

On April 22, 2008, the meeting of the “Customs procedures improvement” task force of the Advisory Council for Foreign Investments in Russia (FIAC) was held in the Board Hall of the Federal Customs Service of the Russian Federation. It was the first meeting of Russian customs officials to be held within the framework of the special-purpose advisory body with foreign investors, operating in Russia.

The meeting took place with the participation of Sergei Shokhin, State Secretary – Deputy Head of the RF FCS, appearing as the FIAC task force deputy director and as the RF FCS representative in the FIAC Standing Committee, heads and officials the RF FCS central office. At the meeting, foreign investors were represented by Viktor Kramarenko, deputy head of the task force foreign division and the external relations director of PROCTER & GAMBLE PLC, who released from this duty the president of MARS PLC, as well as by officials of a number of foreign companies, operating in the Russian market.

The agenda included the issues of the customs value declaring procedure, usage of the “consignment” concept during carrying out of customs clearance, law project work in progress with regard to introduction of amendments into the Customs Code of the Russian Federation and into the Administrative Offence Code of the Russian Federation (in terms of institution of the authorized consignee establishment).

S.Shokhin ear-marked the importance of the RF FCS dialogue with foreign investors and called the meeting’s participants for making the proposals on issues of their concern. On behalf of the task force’s foreign division, V.Kramarenko offered assistance in solution of the discussed matters, being attractive for foreign investors.

The next meeting of the FIAC task force was scheduled for the end of July.
The Advisory Council for Foreign Investments in Russia (FIAC) was established subject to the Decree No. 1108, dated September 1994, of the Government of the Russian Federation, aimed at ensuring of implementation of consistent and well-coordinated state policy in the field of intensification of activities aimed at attracting of foreign investments into the economy of the Russian Federation.

During its lifetime, the task force “Customs procedures improvement” has achieved substantial advance – its members have taken active part in elaboration and adoption of the new Customs Code of the Russian Federation. On the initiative of the task force proposals were prepared on introduction of amendments into enactments, regulating the customs clearance issues and application of special-purpose customs procedures, various activities were held with participation of representatives of customs authorities and foreign business circles with a view to interpretation of the customs law of the Russian Federation.