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Russia-Singapore trade down by 28% in 2015 — Russian ambassador

February 18, 2016, 9:59 UTC+3 SINGAPORE

Russia’s exports decreased last year by nearly 30% and stood at about $5.1 billion whereas imports went down by 16% to $439 million

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SINGAPORE, February 18. /TASS/. Russia’s trade with Singapore dropped by 28% in 2015 to $5.5 billion, Russian Ambassador to Singapore Andrei Tatarinov told TASS on Thursday.

"Russia’s exports decreased last year by nearly 30% and stood at about $5.1 billion whereas imports went down by 16% to $439 million," he said. "Mutual trade is demonstrating a rollback to the 2013 level."

"The tendency is quite explainable taking into account the general decline in the global economy, economic slowdown rates, etc.," he noted. "It is a natural process."

Nevertheless, in his words, development of bilateral cooperation in various spheres is very important in the current conditions. "Singapore has a strong research and technology potential. For instance, it manufactures aircraft engines and has technologically advanced electronics production lines," the Russian diplomat said. "We also have interesting technologies which might attract attention of Singaporean companies. We are interested in establishing cooperation with Singapore to launch their technologies at our companies, primarily in the Far East.".

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