The Analytical Center has launched a new product: the review of changes and trends in the regulation of non-raw materials exports in Russia and the world. The digest is to be published on a quarterly basis.
The first issue analyzes the legislative changes that went into effect in Q1 2018 as well as those that are planned for the near future and that affect the regulation of non-raw materials exports in Russia, the EEU and around the world.
In the context of Russia and the EEU the experts looked into issues having to do with customs and tax administration, FOREX, veterinary and sanitary supervision, the development of border infrastructure, provision of state services in digital format and others.
Around the world, the analysts' attention was drawn to measures that aim to offer state support to exports, the development of transport and logistics support for product exports, expansion of cooperation aimed at promoting integration as well as other issues.
A review of the existing measures to subsidise exports activity from the federal treasury is presented as a special interest material (In the Focus in Russia section). In 2017, the amount of non-raw materials and non-energy exports in Russia totaled USD 133.7 billion (37.5% of the total exports), having gone up 22.5% on 2016. The Russian government has been quite consistent in its efforts to create conditions for sustained growth in non-raw materials and non-energy exports, the analysts note. Thus, as part of the implementation of the priority projects 'Systemic Measures to Develop International Cooperation and Exports', 'International Cooperation and Exports in Industry' and 'Exports of Agribusiness Products', a comprehensive set of state support tools to promote exports have been developed, including exports of high tech and innovative products as well as agricultural products and food stuffs.
The set of support measures includes, among other things, subsidizing of interest rates for export loans, compensation of product transportation and certification costs, protection of intellectual property rights, development of after-sale service programs, the digest notes. The analysts believe that subsidizing specific exports should expand the range and geography of Russian exports by giving exporters easier access to financial resources and transportation services, reduce product certification and patenting costs while keeping them protected and actively promoting products in international markets.
For more see the review 'Changes and Trends in the Regulation of Non-Raw-Materials Exports in Russia and the World' in Q1 2018.
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