Russia To Expand Overseas Trade & Economic Development

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Russia’s Economic Development Ministry will have representatives in 52 countries from October 1, 2021. The decree to that effect signed by President Vladimir Putin was published on the official portal of legal information on Tuesday.

“In order to ensure the interests of the Russian Federation in the foreign economic space, I hereby order: starting from October 1, 2021 to allow the Economic Development Ministry of the Russian Federation to have its representatives in 52 foreign states, the list of which is determined by the Economic Development Ministry of the Russian Federation in agreement with the Foreign Ministry and the Industry and Trade Ministry of the Russian Federation,” the decree says.

Representatives of the Economic Development Ministry will carry out their functions as part of Russian trade missions abroad, without being part of the staff of the missions, according to the document.

We will provide details of the 52 Russian Economic & Development overseas offices as soon as we receive the official list. An expansion of existing activities in Asia and Africa can be expected to be prominent.

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Russia Briefing is written by Dezan Shira & Associates. The firm has 28 offices throughout Eurasia, including China, Russia, India, and the ASEAN nations, assisting foreign investors into the Eurasian region. Please contact Maria Kotova at russia@dezshira.com for Russian investment advisory or assistance with market intelligence, legal, tax and compliance issues throughout Asia.

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