OREANDA-NEWS. The Financial University under the Government of the Russian Federation (the Financial University) hosted a meeting in Moscow between Vnesheconombank's top management and a delegation of graduates of the Global Executive Development Programme of the Gordon Institute of Business Science (GIBS), the University of Pretoria (South Africa). Vnesheconombank's Chairman Vladimir Dmitriev welcomed the guests with an opening speech.

"I am particularly pleased to mention that the Bank is expanding its contacts with South African partners," stated Mr. Dmitriev. "I believe that the cooperation between the VEB Group, the Financial University and the University of Pretoria has considerable potential," he said, proposing to consider jointly how to realise these opportunities.

Other speakers also included Sergey Lykov, Vnesheconombank's Deputy Chairman - Member of the Board, and Andrei Klepach, Vnesheconombank's Deputy Chairman (Chief Economist) - Member of the Board.

The highlight of the meeting was an overview of the VEB Group's business lines as well as the Bank's participation in large projects and state programmes, current developments and future trends in the Russian economy. The participants also discussed the current state and prospects for the leading banks and development institutions in South Africa, educational programmes offered by the Financial University and the University of Pretoria of the Republic of South Africa, primarily in the field of international cooperation, taking a closer look at the expertise of the Federal Centre for Project Finance in preparation and implementation of development projects.

It was mutually agreed that there was a potential for closer bilateral cooperation in the exchange of information, research and development and joint activities aimed at sharing the universities' expertise and teaching methods as well as the best practices used by the institutions of the two countries in delivering development projects.

The range of bilateral contacts between the VEB Group and its South-African partners has been considerably extended lately: joint events have been successfully held with the Development Bank of South Africa (DBSA), the Industrial Development Corporation, development institutions of the Republic of South Africa in the field of SME support. Mutual activities have been undertaken with participation of the Department of Industry and Trade of the Republic of South Africa as well as with major public and private companies of the two countries in the area of exports support and energy development, high technologies and car manufacturing.