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Vladimir Putin discussed issues of export development

RUSSIAN FEDERATION
Tuesday, October 01, 2024, 06:00 (GMT + 9)

At a meeting of the State Council Presidium on export development, the Russian President identified the main barriers to the growth of Russian supplies to foreign markets – financial, logistical, political – and ways to overcome them.

Vladimir Putin noted that world trade and the global economy are currently actively changing: “A new system of relations is being built, where the leading roles are being taken by the states of the so-called Global South, dynamically growing countries, participants in promising integration associations, such as BRICS, for example.”

The President outlined the main tasks for promoting Russian brands in foreign markets:

• Stimulating the supply of goods with high added value, including food products. It is planned to increase non-resource non-energy exports by at least 2/3 by 2030 compared to 2023.
• Overcoming logistics barriers, creating transport infrastructure for trade turnover, primarily with promising markets in the Global South, Africa, and Latin America.
• Transition to settlements in national currencies, through clearing payment systems and platforms. The possibilities of creating a supranational payment infrastructure are currently being worked out.

The President also emphasized the importance of providing assistance to Russian businesses at all levels and recalled that next year the updated national project “International Cooperation and Export” will be launched.

“Supporting exporters and increasing supplies of Russian products to foreign markets is a common task for businesses, federal and regional authorities, our development institutions and representatives abroad,” said Vladimir Putin.

At the same time, the President emphasized: “The main goal is for exports and competition between Russian companies on world markets to serve as a catalyst for the renewal of our industry, agriculture, services, and many other sectors, to stimulate the growth of the efficiency of domestic enterprises, and to allow the creation of modern, well-paid jobs – right here in Russia. This is the ultimate goal.”

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