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    ‘Our 1000-People Representation in Latin America is Fake News’ - Rostec CEO

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    St. Petersburg International Economic Forum 2019 (41)
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    Sputnik has spoken at 2019 SPIEF to Sergey Chemezov, the CEO of Rostec, chairman of the Union of Russian Mechanical Engineers, to find out about promising markets for Rostec, and specifically about Latin American markets.

    Sputnik: You are actively engaged in foreign markets both in military and civilian industries. What products and which markets do you consider the most promising, especially in Latin America?

    Sergey Chemezov: For us, the most interesting and most developing market is, of course, the Arab world, Southeast Asia and, of course, Latin America. African countries are less of interest because they don’t have such strong financial resources, but, nevertheless, they still acquire them.

    I can say that in 2018 Rosoboronexport set a new record – we sold $13.7 billion worth of machinery abroad. Our order portfolio is more than $50 billion, so it allows us to safely fulfil any plan. We don’t want to be too fast, but there are certain factors that don’t allow us to drastically increase volumes.

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    As for Latin America, we are actively working with Latin America. There were rumours that we are reducing our 1000-people representation there, but we have never had such a representative there; our representative office consists of 10 people. That is fake news, but what is interesting is that even Trump commented on it.

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    St. Petersburg International Economic Forum 2019 (41)
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