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Russian export to increase by 1.6 times by 2018 - Shuvalov

This is conditioned by modernization of the Russian economy, according to First Deputy Prime Minister Igor Shuvalov

GORKI, July 8 (Itar-Tass) - Russia’s export will increase by 1.6 times by 2018, First Vice-Prime Minister Igor Shuvalov said on Monday.

“The formation of the Eurasian Economic Union, which should operate from January 1, 2015, and other factors will help considerably increase foreign trade. By 2018 we should have a different export potential. Russia’s export will increase by 1.6 times. Raw materials export should grow slower than the non-resource industry,” Shuvalov said.

This is conditioned by modernization of the Russian economy and the efforts to reduce the dependence from the international raw materials market, the first vice-prime minister said.

“We envisage developing customs points in the Far East,” he said, adding that the government had received many complaints on certain border posts in the region.

The first vice-prime minister said Russia’s trade would be considerably expanded to the East. “The plan includes names who are responsible for carrying out concrete tasks,” Shuvalov said.

He noted that within the programme it would be necessary to increase the export of equipment and Russian transport means.

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