Russia’s Export Strategy: India and China Lead as Main Trading Partners

MOSCOW: Prime Minister Mikhail Mishustin highlighted the significant role of India and China in Russia's export strategy during his speech at the Made in Russia Export Forum. Mishustin pointed out that these countries, along with a few others categorized as 'friendly,' account for 86% of Russia's total exports. According to Emirates News Agency, Mishustin elaborated on the proactive efforts by the Russian government to enhance trade relations with these friendly nations. "The government proactively facilitates the expansion of communications between our businessmen and counterparties from friendly countries. Various types of lending are stipulated. Insurance of contracts is also in effect," he noted. These measures have led to an increase in deliveries to such countries by about a third over the past four years. In his address, Mishustin also detailed that China, India, and Egypt are the primary recipients of Russian exports, with trade with Vietnam also showing significant growth. The sectors benefiting mo st from these enhanced trade relationships include machinery, metals, chemicals, and the pharmaceutical and cosmetic industries. Additionally, the agro-industrial sector, particularly the grain and oils and fats industries, has seen steady growth.