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Russia plans to expand its exports’ geography to Middle East and Asia — ministry

According to Liliya Shchur-Trukhanovich, the amount of funds for export-supportive measures would be revised

MOSCOW, February 20. /TASS/. Russian exports will soon expand into Africa, Asia, and the Middle East, according to Director of the Department for Development and Regulation of Foreign Economic Activity at Russia's Ministry of Economic Development Liliya Shchur-Trukhanovich.

"In the near future, the geography of Russia's presence in foreign markets will continue to expand - both toward the promising African market and by strengthening its presence in the Middle East, Asian, and Arab countries. Therefore, all further measures of support will be developed taking into account the desire of Russian entrepreneurs to develop new foreign markets. At the same time, the measures will be expanded to include new choices that will enable enterprises to transport goods to partner countries faster at a competitive price," she stated via the Ministry of Economic Development's press service.

According to her, the amount of funds for export-supportive measures would be revised. When calculating it, the geographical growth of Russian enterprises will be considered, as well as potential changes in the key rate, an increase in insurance risks, and transportation expenses.

She added that the Ministry of Economic Development continues to provide assistance measures for priority imports, especially raw materials, supplies, and equipment that are either unavailable in Russia or accessible in insufficient quantity and quality.