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Russian Export Center expects export to ASEAN market will rise to 10% by 2020

May 12, 21:33 UTC+3 MOSCOW
Russian companies finally started viewing international markets because domestic markets do not make possible to develop at the pace they would like, Chief Executive Officer of REC says
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© Grigory Sysoyev/TASS Archive

MOSCOW, May 12. /TASS/. The Russian Export Center (REC) forecasts the share of Russian export to ASEAN nations will grow from 1.5% to 10% by 2020, Chief Executive Officer of REC Pyotr Fradkov said on Thursday in an interview with TASS.

"Now we have 1.5% on the market but I believe 10% will be a decent share. It’s fairly achievable by 2020," Fradkov said.

"Certainly, we are heavily behind many our partners: China has 18% of supplies to the ASEAN region, the Republic of Korea has 6.5%, and the United States - 7%," he added.

Availability of competitive products and good ratio of price and quality will help Russia to reach such a level, Fradkov said. "Russian companies finally started viewing international markets because domestic markets do not make possible to develop at the pace they would like. A desire to export appears with companies," he added.

"Russia and the ASEAN nations have very good political level of interaction but it lags far behind in economic terms," Fradkov said.

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