Government Launches Program to Promote Russia’s Exports

A project aimed at promoting the export of locally made products was launched by the Russian Export Center (REC) and the Economic Development Ministry, according to a statement from the ministry.

“As part of the implementation of the national project on improving labor efficiency and maintaining employment, the Russian Economic Development Ministry has initiated the creation of the first accelerator for providing export support to enterprises,” the ministry said, according to TASS.

Earlier reports said that Russian President Vladimir Putin tasked the government with ensuring exports of non-oil and gas products amounting to $250 billion to implement a decree on national goals and strategic development tasks of the Russian Federation until 2024.

In his address to the Russian Federal Assembly in March, Putin set a task for the next six years to double the volume of non-oil and gas exports up to $250 billion, among other ambitious goals.

At the same time, the volume of annual exports of services, including education, medicine, tourism and transport, should grow to $100 billion. The President also instructed the government to ensure exports of machine-building products at $50 billion a year, export of agro-industrial products at $45 billion a year, as well as the export of services at $100 billion per year.

In 2017, the export of non-energy goods from Russia grew by 22.7% to $133.8 billion.