Russia can redirect $37 billion of its exports to friendly countries. This is reported by the publication RBC.
According to the publication, Russia can redirect $37 billion of its exports to friendly countries. It is noted that in addition to China with India, as well as in addition to oil and metals, in the future the Russian Federation may trade seafood with Egypt and paper with Mexico.
The publication states that such an assessment was given by experts in the report “Development of the EAEU 2022+: strategic tasks and requirements of the time” of the Russian International Affairs Council (RIAC). The authors of this material are experts from the All-Russian Academy of Foreign Trade and government officials from the Ministry of Economic Development.
The authors believe that China ($16 billion) will account for a large share of such supplies, and 15 countries are among the largest alternative sales markets. It is noted that, most likely, these countries can buy a wide range of goods from Russia – from minerals and metals to nuclear reactors, seafood and paper.
According to the study, experts have already been able to calculate how much and to which partners Russia can add export positions to existing deliveries. The authors note that India, Turkey, Egypt and Vietnam are in the top five potential recipients of unrealized exports, far ahead of China. Experts believe that trade with the above-mentioned countries will bring in $2-4 billion annually.
The experts also noted the measures that will need to be taken in order for the supply of unsold exports to become available. They believe that it is necessary to consider the way of forming free trade zones between importing countries and the Eurasian Economic Union, which includes Russia along with Kazakhstan, Belarus, Armenia and Kyrgyzstan. It is noted that similar negotiations are already underway with Egypt. In the case of Uzbekistan, the issue of its entry into the EAEU is being considered.
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