Russia is experiencing a boom in the visiting numbers of Chinese tourists; 32 tourist routes exist between Heilongjiang province and Russia’s Far East.
Russia and China are keen on moving away from the American credit based financial system towards a system where the national currencies are at least partially based on real assets.
Russia has just overtaken China as the world’s fifth-biggest holder of gold reserves.
Russia, along with China, is among the world’s leading buyers and producers of gold, which helps pay for its infrastructure development; it can also potentially secure its economy from the impact of more Western sanctions in the future.
Despite Western sanctions over the 2014 reunification of Crimea with Russia, the peninsula’s economy has seen rapid growth both in terms of economic output as well as investments. This has left the republic with ambitious goals for its future development. According to the republic’s Minister of Economic Development Natalia Chaban, speaking at the recent Sochi[…..]
In this article, we explain the import and customs duties procedures in Russia.
German exports to Russia last year rose by more than a fifth over 2016, according to data by Germany’s Federal Statistical Office (Destatis).
Russia’s consumer price index performed better in 2017 than most of its regional EU neighbors, and inflation across the EAEU in 2017 did not exceed the ceiling set by the Treaty on the Eurasian Economic Union.
Russia increased its import of goods from non-CIS countries in 2017. European and Asian based manufacturers should be examining tax and trade agreements with Russia, and look at opportunities that can arise from establishing a sales presence in the country.
Russia has raised the monthly minimum wage level from January 1 to 9,489 rubles (US$165), and is becoming more competitive when compared with South-East Asia. Here we discuss why the comparison is significant.