Russia’s Kuban presents wines at Chinese expo to boost exports

A delegation from Russia’s Krasnodar Region, which included both the authorities and producers, presented wines at an international exhibition in China’s Shanghai for the first time to promote the brand of Russian wines and increase the exports share, press service of the Krasnodar Region’s administration said in a statement on Thursday.

“Wines from Kuban were presented at an international expo in Shanghai,” the statement said. “Business negotiations were held between representatives of wine producers and Chinese distributors,” the press service added.

Kuban already exports vegetable oils, ice cream and wines to the Asian producers, though the region is interested in boosting the volumes of wine exports to China, according to the information provided by the region’s department of investment and SMEs development. Moreover, the participation in the expo will help promote the whole brand of Russian wines on the global market, it noted.

Earlier reports said that Russia’s Krasnodar Region initiated the creation of a ‘Russian wine’ brand, which is currently under development.

The Krasnodar Region is Russia’s leading region in terms of wine trade, which is home to one third of all vinelands in the country and where 48% of the Russian wine and 32% of the Russian sparkling wine is produced. The share of the Krasnodar Region in total Russian vinelands equals 30%. In 2019, the Krasnodar Region increased wine exports by 7% compared with 2018, particularly due to starting supplies to five more countries – the UK, Brazil, Spain, Belgium, and Canada.

Direct Russian investments in Azerbaijan amount to about $1.5b

Direct Russian investments in Azerbaijan amount to about $1.5 billion, Chairperson of the Federation Council of the Federal Assembly of the Russian Federation Valentina Matviyenko said at the 10th Russia-Azerbaijan Interregional Forum in Moscow.

Matviyenko noted that about 700 joint ventures of the two countries operate in the Azerbaijani market.

“Over the past years, tremendous work has been done to deepen trade and economic ties between Russia and Azerbaijan,” the chairperson added. “We already see its practical results. Mutual trade turnover last year grew by almost 14 percent and amounted to about $2.5 billion. Russia is Azerbaijan’s main trade partner in the import and export of non-oil sector goods.”

Matviyenko also emphasized intensive cooperation in the transport sector, in particular as part of the formation of the North-South corridor.

The chairperson expressed confidence that the corridor will become the most important transport artery of Eurasia and will make it possible to significantly accelerate the cargo transportation from South Asia to Europe via Russia and Azerbaijan.

Matviyenko believes that in order to further strengthen the economic ties between the two countries, it is necessary to maximize the use of mechanisms for interregional cooperation.

The 10th Russia-Azerbaijan Interregional Forum is being held Nov. 22-23 in Moscow with organizational support from Russia’s Ministry for Economic Development and Azerbaijan’s Economy Ministry.

Russia wants to develop cooperation with Japan in hi-tech sector

Russia is highly interested in developing cooperation with Japan in the hi-tech sector, Russian Foreign Minister Sergey Lavrov said at the G20 Foreign Ministers’ Meeting on Saturday.

“We have many large projects with Japan,” Russia’s top diplomat pointed out.

“The Japanese want to participate both in expanding the Sakhalin [hydrocarbon] projects and the Arctic LNG and other undertakings. We, of course, would like to draw our Japanese partners into cooperation in high technologies to a larger extent. There is progress in healthcare, primarily, in creating hi-tech oncological centers,” the Russian foreign minister said.

Moscow and Tokyo intend to develop practical steps in implementing the accords reached at the highest level, Lavrov said.

“Prime Minister [of Japan Shinzo] Abe put forward an eight-point plan,” Russia’s top diplomat said.

“In turn, we presented a list of priority projects to our Japanese colleagues. These two documents now constitute the basis for all that we are doing, including as part of the joint economic activity on the [Southern Kuril] Islands,” Lavrov said.

This economic activity has started to develop fairly well, Russia’s top diplomat noted.

“First of all, there is progress in such projects as setting up modern recycling facilities and organizing special travel tours to the Southern Kuril Islands,” Lavrov pointed out.

“But, of course, these two spheres are not quite breakthrough areas and are not strategic with regard to developing our economic relations,” Lavrov said.

Russia in talks with Norway over SSJ-100 deliveries

Russia conducts negotiations with Norway to deliver SSJ-100 planes, Russia’s Industry and Trade Minister Denis Manturov told TASS on Saturday.

“Indeed, talks [about deliveries of SSJ-100 planes] are underway. Of course, there have been no decisions yet,” he said.

In October, the RBC daily reported that the Sukhoi Civil Aircraft company inked a memorandum of understanding with the low-cost carrier Norwegian Air Shuttle on deliveries of 40 SSJ-100 planes for a Trans-Siberian route, which the airline had been seeking to fly in recent years.

Later, Norwegian Air Shuttle said that it had not signed any deals on SSJ-100 deliveries.

Russia’s trade with BRICS nations exceeds $125 billion

Russia continues expanding economic cooperation with fellow BRICS countries, said President Vladimir Putin at BRICS Summit in Brazil. Russia’s trade with Brazil, India, China and South Africa has grown by 22.4 percent.

“We are actively participating in international trade, boosting our mutually beneficial ties with foreign countries — first and foremost, our BRICS partners. In 2018, our trade with the four countries exceeded $125 billion,” said the Russian leader.

He also said that Russia is ready to share its experience in digital technologies. “There are good chances for boosting our cooperation in computer science and telecommunications. Russia offers BRICS states to take a closer look at our newest projects. I am talking about electronic document management, search systems and antivirus software, which responds to the highest advanced security requirements.”

The Russian president offered to expand energy cooperation, noting: “Russia reliably ensures deliveries of energy materials to global markets and makes a significant contribution to supporting global energy security which is vital for economic growth and social development.”

Putin has earlier called on the trade partners to develop settlements in national currencies, instead of the commonly used currencies like the US dollar. According to him, the integration of payments systems and the establishment of an independent channel on information exchange could facilitate the stability of the banking systems of the five countries.

BRIC was established in 2006 by Brazil, Russia, India and China, before South Africa joined the bloc in 2010, adding the “S” to the acronym.

As of 2018, combined nominal GDP of these five emerging economies amounted to $18.6 trillion, which is about 23 percent of the gross world product. The trade bloc represents more than 40 percent of the world’s population.

According to International Monetary Fund estimates, member states are responsible for more than half of the global economic growth of the last 10 years.

Russia to suggest modernizing trade and partnership strategy to BRICS

Russia is going to suggest modernizing the strategy of partnership in trade and investments within the framework its chairmanship in BRICS in 2020, President Vladimir Putin said on Thursday at the plenary session of the BRICS summit.

“The Russian chairmanship intends to suggest that the countries of the ‘group of five’ jointly performed work on updating the strategy of BRICS partnership in trade and investments, approved at the association’s summit in Russia in 2015,” Putin said.

Implementation of this strategy positively influenced on economic cooperation of BRICS members in many areas, the Russian leader said. “However, it is required now to update and modernize this document, set new tasks for development of sectoral cooperation in BRICS for the next five-year period until 2025,” Putin said.

“The main goal is seen in interaction between the states providing for real benefit to citizens, promoting improvement of standards and quality of life,” he added.

Energy ministry expects Russian oil export to rise by 20-25 mln tonnes within five years

Russia’s Energy Ministry expects crude oil exports to rise by 20-25 mln tonnes within five years to 280 mln tonnes, whereas gas exports – to increase to 300 bln cubic meters by 2022, Minister Alexander Novak said in an article in the Energy Policy magazine published on Friday.

“We project that within five years we will be able not only to maintain our positions on the global markets, but also to boost oil exports by 20-25 mln tonnes (to around 280 mln tonnes) and gas – by 40-45 bln cubic meters (to about 300 bln cubic meters by 2022),” the article said.

In 2018, Russia boosted crude exports by 2.9% compared with 2017 to 260 mln tonnes, while gas exports gained 4.9% to 220.6 bln cubic meters.

ECE and Association of Italian Industrialists “Confindustria Russia” discuss prospects for cooperation

Chairman of the Board of the Eurasian Economic Commission (ECE) Tigran Sargsyan met with President of the Association of Italian Industrialists “Confindustria Russia” Ernesto Ferlengi. The meeting took place on November 19 at ECE headquarters.

The Chairman of the Board emphasized that such meetings provide an opportunity to exchange views on what has been done and what is not enough to create the most comfortable working conditions for investors in the Eurasian Economic Union (EAEU).

“We, of course, support the most active participation of foreign business in projects in the EAEU and have created good communication channels. One of the most important tasks of the Union is to create favorable conditions for entrepreneurs operating in the EAEU. We are open to close cooperation, including with the European Union business community, and are interested in getting the opinion of the business community” – Tigran Sargsyan concluded.

The Chairman of the ECE Board shared information on establishing a dialogue with the European Union.

Ernesto Ferlengi, in turn, emphasized the growing interest of Italian companies in the Eurasian economic space. “We are actively cooperating with member countries of the Eurasian Economic Union. Our business sees that the EAEU market is huge and there is great potential for its further development. Despite certain difficulties in the international environment, we believe that dialogue will further develop. Our association is ready to bring a number of European companies to the EAEU” – added Ernesto Ferlengi. He also noted the desire of the Association of Italian Industrialists “Confindustria Russia” to actively cooperate with the Commission.

Tigran Sargsyan, Chairman of the EEC Board, confirmed for his part that the EEC is ready to establish an active dialogue with “Confindustria Russia”.

Dmitry Medvedev praises sales of Russian aircraft to Thailand

Sales of Russian aircraft to Thailand is a promising export, as the Russian-Thai cooperation is not limited to tourism, Russian Prime Minister Dmitry Medvedev said at the end of his visit to Thailand on Monday.

“We discussed various fields at the talks. In this context, I can name what is already on the agenda and what could be added to the agenda in the near future. For example, imports of Russian aircraft, or planes and helicopters. It is a vast and serious market, which is of interest for us,” the prime minister said.

Among other fields of cooperation, he mentioned cybersecurity and infrastructure.

“As a result, there could be some changes in the pattern of trade (between the two countries),” Medvedev added.

The Russian head of government noted encouraging opportunities in the agricultural sector.

“We can export meat here, which is quite actively consumed in Thailand, while our partners in Thailand could export Thai fruit, which are known for high quality, to Russia,” he explained.

Apart from that, according to Medvedev, both countries have examples of large investments. For example, a major Thai company invested about $1 billion in Russia’s dairy production and has plans to invest more.

“That can be just welcomed as the dairy production is a complex business with a fairly lengthy cycle and rather low profitability. Therefore, such investments are especially valuable,” the prime minister noted.

Exports of petroleum products and coal from Russia to India grew by a quarter in 9 months

The supply of petroleum products and coal from Russia to India over the 9 months of 2019 increased by a quarter, to 564 thousand tons and 4.37 million tons, said Russian Minister of Energy Alexander Novak.

According to Novak, Russia is steadily increasing its export of energy resources to India.

“For the 9 months of 2019, the supply of petroleum products and coal increased by a quarter, to 564 thousand tons and 4.37 million tons, respectively. Oil supplies are kept at a high level” – Novak’s words are quoted in a message from the Energy Ministry following a meeting between Russian President Vladimir Putin and Indian Prime Minister Narendra Modi at the site of the BRICS summit in Brasilia.

Russia is committed to the intensive development of energy cooperation with India at both the interstate and corporate levels, the head of the Ministry of Energy noted.

“The partnership between Gazprom and Indian partners in the field of LNG trade is becoming strategic. We expect that development will also occur through the participation of Indian companies in projects in Russia for hydrocarbon production” – Novak said.