US-Russia Trade Turnover May Significantly Grow in 2017 - Russian Trade Envoy

The Russian trade envoy in the United States assumed on Sunday that the trade turnover between the two countries will increase this year in comparison to 2016.

WASHINGTON (Sputnik) — A trade turnover between Russia and the United States may significantly grow in 2017, Russia's trade representative in the United States told reporters Monday on the margins of the Coordinating Council of Russian Compatriots of the USA (KSORS) conference at the Russian Cultural Center in Washington DC.

"It is, of course, difficult to predict what we will have in the end of the year, but taking into the current trends, as well as the stabilization of prices, including those that depend on oil and gas prices, the results will be more significant than the results of 2016," Aleksander Stadnik said.

Stadnik noted that the results of the first quarter of 2017 show that the US-Russia trade was growing at a good rate.

"The growth rate is already 30% and more as compared to the previous period. This gives grounds to believe that business activity is increasing." he explained.

The trade representative pointed out that more than 30% of foreign participants at the International Economic Forum in Russia’s St. Petersburg (SPIEF) were American, 144 out of a total of 516 companies.

"This shows that the US businesses are interested in Russia, and that Russia takes a worthy place in their business plans. All this also shows that we are gradually returning to the pre-crisis level, and there are reasons to believe that the results for the year will be much better," Stadnik said.

Stadnik added that the imports to the United States from Russia are also getting restored.