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

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

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.