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Russian machinery, equipment exports to increase by 6% annually

July 10, 2014, 13:30 UTC+3 YEKATERINBURG
Russia would reorient its exports away from Europe and the United States towards countries of Asia, Latin America and Africa
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© ITAR-TASS/Vladimir Zinin

YEKATERINBURG, July 10. /ITAR-TASS/. Russia plans to step up exports of machinery and equipment by 6% annually, said Russian Deputy Minister of Industry and Trade Georgy Kalamanov.

“In terms of balance, raw material exports account for about 70%, and we should certainly increase supplies of machinery and equipment over the next few years. This can be done in principle by 6%,” Kalamanov told an international industrial trade fair in the city of Yekaterinburg in the Urals on Thursday.

Russia would reorient its exports away from Europe and the United States towards countries of Asia, Latin America and Africa, measures designed to increase machinery and equipment exports by 6% every year, he said.

“We have thought for many years that we should strive for supplies to the European Union, and we have strived for supplies to the United States and some other countries. But in fact, markets have changed lately, and we are looking more towards Asia, Latin America and Africa,” Kalamanov said, adding that issues of export promotion had become very important, especially after Russia's accession to the World Trade Organization.

“We are constantly working on it, searching for new measures of support and new markets, and promoting our products,” he said.

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