Russia’s car exports up 27.8% in eight months

Exports of cars from Russia in January – August 2019 increased by 27.8% compared to the same period last year to 73,400 cars, according to the Federal Customs Service. Exports of trucks remained almost at the same level and amounted to 8,400 vehicles.

In value terms, export of passenger cars amounted to $1 bln (an increase of 32.1%), freight – $218.5 mln (an increase of 12.7%).

As for the statistics for August, exports of passenger cars decreased by 11% to 8,900 cars (in value terms – decreased by 14.2% to $133 mln), trucks – by 3.2% to 1,100 cars (in value terms – a decline of 13.5% to $29.4 mln).

Russian companies sign contracts worth 7.4mln euro at Anuga-2019 fair in Cologne

During Anuga-2019, a major international trade fair for food and beverages in Cologne, Russian companies signed eight agreements and contracts worth 7.4 million euro, the Russian Export Center (REC) said on Wednesday.

“It is important that we can see business successes by Russian enterprises by the time the exhibition ended. For example, Russian participants held over 300 business meetings. Domestic exporters signed eight deals on the sidelines of the event, totaling 7.408 million euro. It is also important that over 75% of exporters expect to sign contracts in the wake of meetings held within the framework of the event,” Russian Export Center’s press service quoted Director General Andrei Slepnev as saying.

Anuga-2019 was held in Cologne on October 5-9, gathering over 4,500 participants. According to the REC’s press service, Russian participants of the exhibition held 324 meetings with a potential of 17.3 million euro (excluding the agreements and contracts inked during the event). “If we combine business potential of all the meetings held with the number of contracts, the total value of the business potential will account for approximately 25 mln euro,” the REC’s press service noted.

“One of the directions of REC support is to subsidize the participation of export-oriented Russian enterprises in foreign congresses and exhibitions. The Anuga exhibition in Cologne joined the list of those events for the first time,” the REC press service said.

A total of 27 leading manufacturers from 20 Russian regions showcased their products in Cologne, including grain and cereal manufacturer Agro Alliance, yeast maker Angel Yeast Rus, Dmitrov Dairy Plant, Kremlina confectionery, pasta, cereal and flour manufacturer Makfa, packed honey company Honey House, meat producer Miratorg, fruit and berry company RusBioAlliance and others.

Russia’s sovereign fund eyes multi-billion dollar projects with Saudi Arabia

The Russian Direct Investment Fund (RDIF) has announced plans to implement new projects and ink agreements with Saudi companies during President Vladimir Putin’s visit to Saudi Arabia next week.

“We are working now on 25 new projects totaling $10 billion,” RDIF CEO Kirill Dmitriev said, adding that the sides will sign an agreement on cooperation in artificial intelligence.

The fund said in a statement that more than 10 agreements worth over $2 billion will be sealed both with its current and new partners in Saudi Arabia. The deals will cover high technologies, space, logistics, transport, infrastructure construction, oil production, petrochemicals, and agriculture. One of the deals will involve oil giant Saudi Aramco, according to Dmitriev.

In 2015, RDIF and Saudi Arabia’s Public Investment Fund (PIF) launched a long-term strategic partnership, with PIF putting up $10 billion for joint projects.

An RDIF delegation, led by Dmitriev, will join President Putin’s official visit to Saudi Arabia on 14-15 October.

Russian Cabinet approves draft free trade zone agreement between EAEU and Serbia

The Russian government approved the draft free trade zone agreement between the Eurasian Economic Union (EAEU) and Serbia. The relevant decree dated October 7 was posted on the official Internet portal of legal information.

“To approve the draft free trade zone agreement between the Eurasian Economic Union and its member-states and the Republic of Serbia, presented by the Ministry of Economic Development and agreed with the Russian Foreign Ministry and other interested federal executive authorities and the Serbian side,” the document says.

The agreement is planned for signing at a meeting of the Eurasian Intergovernmental Council.

Between January and September, trade between Russia and China grew by 3.7%

Trade between Russia and China increased by 3.7% year on year to $ 80.13 billion between January and September inclusive. This was reported on Monday by the Main Customs Administration of the PRC.

As follows from published data, the volume of exports from China to Russia over this period increased by 1.3% and amounted to about $ 35.64 billion. Imports of Russian goods and services in China increased by 5.6% to $ 44.49 billion.

In September alone, trade between the two countries amounted to $ 9.47 billion.

At the end of 2016, the trade turnover between Russia and China grew by 2.2% year on year and reached $ 69.52 billion. In 2017, this indicator increased by 20.8%, to $ 84.07 billion, in 2018 – by 27.1%, exceeding $ 107 billion.

Issue of Uzbekistan joining EAEU under consideration, says Russian speaker

Uzbek President Shavkat Mirziyoyev has decided to consider the issue of the republic entering the Eurasian Economic Union (EAEU), Russian Federation Council (upper house) Speaker Valentina Matviyenko said at a meeting with Speaker of the Legislative Chamber of Uzbekistan’s Senate (Oliy Majlis) Nurdinzhon Ismoilov on Wednesday.

“We know that Uzbek President has made a decision, currently the issue of Uzbekistan’s joining the Eurasian Economic Union is under consideration,” she said.

The move will provide new opportunities for bilateral cooperation and eliminate certain barriers and obstacles currently existing in the relationship between the two countries, Matviyenko said, adding that she hopes the approval process will not take long.

Russian-Cuban projects ensure infrastructure stability

Cooperation between Russia and Cuba on many projects helps ensure infrastructure stability and security on the island, Russian Deputy Prime Minister Yury Borisov told reporters after the meeting between chairman of Cuba’s State Council and Council of Ministers Miguel Diaz-Canel and Russian Prime Minister Dmitry Medvedev.

“The character of our relations has become more thoughtful, systemic and long-term. All projects that are being implemented right now are associated with serious modernization of infrastructure, ensuring energy security. Now we will be considering issues of Cuba’s food security as it pertains to delivering grains, livestock products,” Borisov said. “Such projects ensure infrastructure stability of the country,” he added.

Borisov said that the contract signed between Cuba and Russian Railways (RZD) envisages “core modernization of the whole railroad infrastructure, which will increase passenger flow and trade turnover by 2-3 times.” Average speed of trains will increase from 30-40 km/h to 100-120 km/h after works are completed.

Medvedev earlier said that Russia and Cuba continue supporting each other through joint investment projects in different spheres. The Russian prime minister said that during talks, Diaz-Canel and him “confirmed plans to continue strengthening strategic partnership.”

Azerbaijan-Russia trade & economic relations increasingly developing

Trade and economic relations between Azerbaijan and Russia are increasingly developing, spokesperson for the Azerbaijani Foreign Ministry Leyla Abdullayeva told Trend.

“The exchange of high-level visits between the two countries, in particular, numerous meetings at the presidential level, make a great contribution to the even greater development of partnership, friendship and good neighborly relations between our countries,” she said.

“For Azerbaijan, Russia is the number one partner in imports. At the same time, Russia is the number one partner in exporting products of our non-oil sector.”

She noted that relations between Azerbaijan and Russia are developing widely in the implementation of investment projects, as well as transport, tourism, humanitarian, cultural and other fields.

“Our countries also cooperate in a mutually beneficial manner in the international arena, on a number of issues on the global security agenda,” she added. “In this regard, cooperation and coordination in the fight against terrorism and extremism should be emphasized.”

Russian-Venezuelan trade grows rapidly

Russian-Venezuelan trade is increasing and it could amount to about $150 million in coming years, Russian Deputy Prime Minister Yuri Borisov said at a meeting of co-chairs of the bilateral intergovernmental commission in Caracas on Saturday.

“Venezuela is Russia’s major trade partner. According to Russian statistical data, in 2018 trade between the two countries soared by 24.7% to $85.3 million, compared to 2017,” Borisov said.

According to Borisov, Russian exports to Venezuela along with imports from that country have been on the rise.

“This year, an upwards trend in bilateral trade remains in place. In case the current positive progress is preserved, I view as a real goal the trade being increased to at least $150 million,” the deputy prime minister said.

Azerbaijan and Russia discuss issues of military-technical coopertion

Baku hosted the 13th meeting of the Intergovernmental Commission for Military-Technical Cooperation between the Republic of Azerbaijan and the Russian Federation, Trend reports on Sept. 26 referring to the Azerbaijani Defense Ministry.

While delivering speech at the event, Azerbaijani Deputy Defense Minister for Logistics, Lieutenant General Fuad Mammadov spoke about the current state and prospects of military-technical cooperation between the two countries and emphasized the development of relations in this sphere.

The parties reviewed the current state of military-technical cooperation and determined the main areas of activity for 2020.

The “Protocol of the 13th meeting of the Intergovernmental Commission for Military-Technical Cooperation between the Republic of Azerbaijan and the Russian Federation” was signed following the meeting.