00:31 GMT +3 hours29 November 2014
Live
Business

Russia to Boost Support for Non-Energy Exports Medvedev

Business
200
The Russian government will boost state support for non-energy exports in a bid to diversify its raw-material-based economy, Prime Minister Dmitry Medvedev said on Monday.

GORKI (Moscow Region), March 11 (RIA Novosti) – The Russian government will boost state support for non-energy exports in a bid to diversify its raw-material-based economy, Prime Minister Dmitry Medvedev said on Monday.

“Our goal is to ensure state financial support for at least 13-15 percent of Russian non-energy exports by 2018,” Medvedev told a government meeting on state support for hi-tech exports.

In 2011, the state granted support for just 0.6 percent of such exports, Medvedev said.

The Russian government has set the task of boosting non-energy exports by 60-70 percent in the next five years and creating favorable conditions for exporters, including support in the form of state guarantees and export contract insurance comparable in scope and quality with other countries, the premier said.

The Russian government should continue its work to simplify and make cheaper administrative procedures for exports, ease exporters’ access to credit facilities, eliminate excessive customs operations and improve foreign exchange and export controls, Medvedev said.

Hi-tech exports should not rely solely on state sources of financing, Medvedev said, as progress in this field depends primarily on companies’ innovation-based activity.

“We must understand ourselves what we can promote on international markets,” Medvedev said. “We need to be prepared for work in a highly competitive environment and our proposals for foreign buyers and consumers should contain not only new scientific developments but they must also be advantageous by price.”

 

Tags:
economy, Dmitry Medvedev