Economy & Politics

Russia Wants 50% Of Economy Based On Entrepreneurial SME’s

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Russia’s Prime Minister, Dmitry Medvedev has stated in a report to the State Duma that he wishes the Russian economy to be driven by SME’s, stating that “Small enterprises currently account for a little under 20% of the country’s economy. This figure should be at least 50%, as in other developed economies. This is the main goal, and, of course, it requires new tools.”

The Russian economy is expected to grow this year at a rate of about 2% following three years of recession caused in part by Western sanctions placed upon it, wiping out nearly all trade with Europe.

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Russian E-Commerce Market “Has Potential Like China” – AliExpress

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Leo Shen, the General Manager of Chinese online retailer AliExpress, has said that the Russian market has enormous prospects and opportunities for growth, including in the e-commerce segment. “The Russian market has huge prospects. These are not general protocol words. I, indeed, think so. I visited Russia five times in the last two years and saw the Russian market has enormous opportunities of boosting the retail trade via e-platforms. Development of e-commerce in Russia resembles now the situation observed in China several years ago,” Leo Shen stated in an interview with Tass.

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The Northern Sea Passage Between Europe and Asia – Russia’s Developing Arctic Ports

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CDE Op-Ed Commentary

As global warming becomes a reality, inevitable implications for the opening up of the Russian Arctic are beginning to take shape. There are eight Arctic nations, all members of the Arctic Council and including Canada, Denmark (Greenland), Finland, Iceland, Norway, Russia, Sweden and the United States. China, France, Germany, India, Italy, Japan, South Korea, Netherlands, Poland, Singapore, Spain and the United Kingdom are all observer nations. Of these, Russia’s coastline onto the Arctic Ocean is the second longest, after Canada, and the only one that covers territory that reaches into Europe and Asia at its western and eastern points, respectively. For this reason, the development of the Northern Passage, long practically ice bound, and unfeasible for navigation, is now becoming reality.

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EAEU Update: Multiple Countries Express Free Trade Interest

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eaeuThe Eurasian Economic Union (EAEU) Board Chairman, Tigran Sarkisyan, has said the EAEU is working on free trade zone (FTZ) agreements with China, Iran, India, Israel, and Singapore, with another 40 countries currently interested in establishing trade and economic relations.

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Standard & Poor’s Rate Russian Economy “Positive”

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bear-upRussia’s economy continues to improve, with the first positive rating issued since sanctions were imposed on the country in early 2014.

International rating agency Standard & Poor’s (S&P) raised the outlook for Russia’s sovereign rating to “positive” up from stable on Friday March 17.

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Russia to Issue Eight Day Electronic Visa on Arrival for Vladivostok

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vladivostokRussia has signed into law a change in visa issuance that will permit foreign nationals to enter and exit Vladivostok on eight-day electronic visas on arrival.

Single business, tourist, and humanitarian electronic visas – with an authorized period of stay up to eight days – will be issued without a consular fee to foreign citizens coming to Russia via border crossings in Vladivostok free port.

Foreign nationals will be able to visit any of five far eastern regions where the free port regime is in place, including Primorsky and Khabarovsk Territories, Sakhalin Region, Chukotka and Kamchatka.

They will have an opportunity of free travel within the entire regions. Foreign citizens with electronic visas should leave Russia also via the border crossings in Vladivostok free port territory.

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Japanese Experts to Oversee Improvements in Russian Auto Manufacturing

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The Japanese Association for Trade with Russia has announced that a team of auto component experts will work closely with twelve Russian auto component manufacturers to assist with technology transfers and quality control standards in the Russian auto sector.

The co-operation, first mooted at last year’s summit between Japanese Prime Minister Shinzo Abe and Russia’s President Vladimir Putin, will see Japanese teams evaluate and introduce improvements in twelve Russian auto component manufacturers, with Russian engineers also spending time in Japan to evaluate Japanese standards.

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Will the Moscow-Kazan High Speed Train Route Connect Through To Beijing?

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moscow-kazan-routeThe First Vice President of Russian Railways Alexander Misharin has stated that the new high speed Moscow-Kazan route is expected to cost 1.3 trillion rubles (USD22.4 billion) as Russia plans to improve connectivity across its vast land mass.

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Russia Development Watch: March 2017

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russia-magnified-2Our monthly round up of Russian infrastructure and investment developments:

Mercedes Benz to Commence Russian Production in 2019

The Ministry of Industry and Trade has stated that German auto manufacturer Mercedes Benz will commence production in Russia in Moscow in 2019. Mercedes Benz have had a Special Investment Contract approved for nine years, with an overall investment of some USD260 million.

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Moscow to Create a Joint Russia-Armenia Military Group

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By Marina Romanova

az-qa-location-enPresident Vladimir Putin has approved a proposal to create a joint Russian and Armenian military group, two countries media reports, quoting the decree. The military cooperation project was proposed by the Russian Defense Ministry, the Foreign Ministry and other federal agencies involved.

According to the document, dated 12 November and published on Monday, November 14th, Putin has ordered the Defense Ministry and the Foreign Ministry to hold talks with Armenia on reaching an agreement on a subject matter.

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