Russia Takes Part Only in 3% of Global Technological Markets – Kudrin

Russia only takes part in 3 percent of global technological markets and needs to improve the situation by entering new markets and lowering barriers for small and medium businesses, chairman of the Center for Strategic Research Foundation’s (CSR) board, former Russian Finance Minister Alexei Kudrin said during the SPIEF-2017.

ST. PETERSBURG (Sputnik) — He stressed that Russia needs to develop new products and simplify companies’ entry into the markets.

"Russia is only represented in 3 percent of technological solutions in the world, in the rest 97 percent we are not taking part, neither in biotechnologies, nor even in IT," Kudrin said, adding that Russia is represented in some seven sectors at the global market, including physics, stressing however that it is not enough.

"Today we are entering new markets timidly, and we need to change the situation, to lower the barriers for small and medium business to enter external markets," Kudrin stressed.

New trade agreements will also contribute to the advance of Russian goods, Kudrin said, adding that Russia plans to increase the part of preferential trade regimes from the current one percent to 40 percent.

"I am convinced that in six or seven years Russia will create several new preferential zones, the negotiations are already underway," Kudrin stressed.

SPIEF, a major global platform for communication between business representatives and discussion of crucial economic issues, kicked off in Russia’s St. Petersburg on Thursday and will continue through Saturday. Sputnik News Agency is the official media partner of the forum.