By Rhod Mackenzie
The Russian Ministry of Industry and Trade ,which is currently working on updating the national project "International Cooperation and Exports" with its extension until 2030, is waiting for the release of non-resource non-energy exports (NOE) to the Russian Federation on a positive trend in 2024 with a subsequent increase in its volume by 2030 by 31% compared to the base year of 2020.
Denis Manturov, the Deputy Prime Minister and Head of the Ministry of Industry and Trade of the Russian Federation, spoke about the updated target indicators of the national project for the development of exports in an interview with Interfax.
"We expect that the implementation of a set of support measures will make it possible to overcome the decline in exports of non-commodity non-energy goods already in 2024 and achieve in 2030 its growth by 31% compared to the base level of 2020, and by 70% in 2035," he said.
Thus, the goal of increasing the NOE by 70% by 2020 is shifted by five years to the right (the current version of the national project assumed that this indicator would be achieved by 2030).
In 2020, the Russian Export Center estimated the volume of non-commodity non-energy exports at $141 billion, at the end of 2021 this figure amounted to $193 billion; last year, the REC did not provide data on NOE.
According to Manturov, as part of updating the International Cooperation and Export national project, the Ministry of Industry and Trade is fine-tuning existing mechanisms (for example, by linking a transport subsidy with the use of priority logistics corridors) and preparing new ones.
"The emphasis is on new markets, primarily the markets of friendly anchor countries. The transport subsidy will be finalized - we will focus on stimulating the use of priority international transport and logistics corridors. We are also updating concessional lending instruments to ensure the possibility of providing long-term financing. We are currently working as new support instruments on the creation of transport and logistics centers and Russian industrial zones in pivotal countries, subsidizing the export of timber products (timber industry complex - IF) through the ports of the Northwestern Federal District, expanding insurance support for EXIAR JSC (Russian Agency for Export Credit and Investment Insurance - IF ) for projects in high-risk countries,a program of preferential leasing of Russian engineering products, as well as we are creating a toolkit to support Russian brands abroad," he said.
The national project "International Cooperation and Export" is aimed at increasing non-commodity non-energy exports from the Russian Federation and includes measures to support exporters through corporate programs to improve competitiveness (CCPC, provide access to concessional lending to manufacturers of export-oriented products), subsidizing part of the costs of transporting products, subsidizing the costs of homologation and certification of products abroad.
This article originally appeared in Russian at expert.ru