Russia launches project promoting Russian exports

The Economic Development Ministry and the Russian Export Center have launched a project aimed at promoting export of locally made products, the ministry said in a statement.

"As part of implementation of the national project on improving labor efficiency and maintaining employment, the Russian Economic Development Ministry has initiated the creation of the first accelerator for providing export support to enterprises," the ministry said, adding that the project has been developed and launched jointly with the Russian Export Center.

Earlier reports said that Russian President Vladimir Putin tasked the government with ensuring exports of non-oil and gas products amounting to $250 bln to fulfill the Decree on national goals and strategic development tasks of the Russian Federation until 2024. In his address to the Federal Assembly in March, Putin set the task for the next six years to double the volume of non-oil and gas exports up to $250 bln. At the same time, the volume of annual exports of services, including education, medicine, tourism and transport, should grow to $100 bln. President also instructed the government to ensure exports of machine-building products at $50 bln a year and export of agro-industrial products at $45 bln a year, as well as export of services at $100 bln per year.

In 2017, the export of non-energy goods from Russia grew by 22.7% to $133.8 bln.