Government intends to change Russian export structure completely

The government is going to change the structure of Russian export completely.

"The drastic change of the export structure is a matter of principle," Russian Prime Minister Mikhail Kasyanov said while opening a governmental session on Thursday.

According to him, if the export structure is not modified, this might have negative social and economic consequences for the country. According to preliminary data, over the past 8 months the growth of gross domestic product has made up 4%, the minister pointed out. 60% of the increase was provided for by the export of Russian goods. Two thirds of Russian export are raw materials.

If Russia had not owned such extensive raw stock, it would have become dependent on the import, the premier remarked. "Russia's economy must not depend on exterior aspects," he underlined. The export structure modified, we shall be able to ensure the economic growth in Russia, Mikhail Kasyanov said.

He thinks it important to modify not only the export structure, but work within the framework of export supplies as well. According to him, to this effort in 1994 the Export-Import Bank was established, "however no desirable results were achieved, the work on supporting the export was not accomplished." It is high time that we focused on supporting the export with all seriousness, the premier believes. "We must secure the importing country against political and commercial risks to normalize conditions of implementing the Russian export," the official stated.

The head of government laid a particular stress on maintaining small and mid-size businesses, which "have gradually introduced new technologies." "This sector must be supported first of all," he stressed. In this case, Russia should follow the pattern of many countries with their organizations and associations that support and insure their exports, Mikhail Kasyanov said.

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Author`s name Editorial Team