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Russia sees great potential in untapped foreign markets — official

Systemic efforts are currently underway, primarily by exporters, in order to "reach the end consumer with our high-quality products," chief executive of the Russian Export Center Veronika Nikishina said

MOSCOW, October 19. /TASS/. Russia has vast potential for developing untapped markets in foreign countries, chief executive of the Russian Export Center Veronika Nikishina said at the Made in Russia 2023 International Export Forum.

"At present, our main opportunity lies in the vast potential of markets we have not tapped into yet. While we hold 4% among all the importers in China, this is negligible," Nikishina said. Our share is 7% in India, 2% in the UAE, and less than 1% in Vietnam, she noted.

Systemic efforts are currently underway, primarily by exporters, in order to "reach the end consumer with our high-quality products," the chief executive said.

"The markets we have now lost, those of unfriendly countries - I believe everyone present who worked in them will say that getting into them was also challenging. It took years of painstaking work to enter these markets. We will fundamentally have to do the same, very clearly, consciously and systemically, with the understanding of how we should work," she noted.

TASS is the general information partner of the Forum.

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