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Export plans
The Made in Russia forum, held at the Moscow International Trade Center, recorded the interim results of changes in Russian exports. Government representatives spoke about the need to increase the share of friendly countries in trade, stimulate the export of medium- and expensive products, and supply more expensive agricultural products to foreign markets. Among the specific promises of officials is subsidizing up to 80% of the costs of forwarders on new export routes to solve new logistics problems.
The Made in Russia forum, held at the Moscow International Trade Center, recorded the interim results of changes in Russian exports. As Prime Minister Mikhail Mishustin noted, foreign trade is developing mainly due to expansion with friendly countries. These deliveries in August were already estimated at 86% of the total export volume. The main destinations are China, Turkey, India and Egypt. The main industries with an increase in deliveries are mechanical engineering (about a third of products are exported), metallurgy (a quarter), chemical and pharmaceutical industries, and the agro-industrial complex.
The Prime Minister called for "replenishing the trade basket with new goods of medium and high added value." According to him, this process is already underway. In 2023, deliveries to friendly countries exceeded 5.6 trillion rubles.
The government sees nuclear technology, medical equipment, trains and buses, creative services, cybersecurity, space communications and mobile app development as promising areas in this sector.
According to the Minister of Agriculture Oksana Lut, in the context of further development of agricultural exports to foreign markets, it is better to supply more expensive products, such as processed products. The Russian Federation may enter the top three world leaders in food reserves by the end of 2023 (103 million tons) (final estimates are still awaited). In monetary terms ($43.5 billion), the Russian Federation ranks 16th. Increasing agricultural exports to the declared $55.2 billion by 2030 will require exporting 122 million tons of food per year, that is, an increase of 18%.
Minister of Industry and Trade Anton Alikhanov assured the forum participants that all existing measures to support exporters will be retained in the updated national project “International Cooperation and Export”, designed to last until 2030.
Among the problems the government continues to address are difficulties in paying for exports (for example, when shipping to China).
As the Prime Minister reported, the share of the national currency in settlements with friendly partners currently amounts to 90%. Alternative domestic supply infrastructure."
The authorities are also continuing to work on solving logistics issues. As Mikhail Mishustin admits, “the limited nature and cost of these services reduce the competitiveness of Russian supplies.”
In this regard, Anton Alikhanov reported that the updated national project envisages support for projects to build foreign trade and industrial infrastructure, as well as subsidizing up to 80% of the cost of large cargo ships on new export routes. Africa, Latin America and Southeast Asia have become closer and cheaper for small exporters."