STRATEGY FOR FOREIGN ECONOMIC ACTIVITIES. SETTING THE PRIORITIES
Sergey Sinelnikov-Murylev, Rector of the Russian Foreign Trade Academy of the Ministry for the Economic Development of the Russian Federation
Dmitry Konov, Chairman of the Management Board, SIBUR Holding
Structural reform of the Russian economy is the pre-condition for the national goals achievement and, generally, for resolving the problem of attainment of sustainable growth. Trade policy is the integral part of industrial structure of economy and the important tool for changes therein. Therefore, the strategy of foreign economic activity of Russia should become one of the foundations of the structural economy reform.
Protection of the domestic market and/or development of exports is the strategy’s important turning point. Import substitution is needed to protect the national businesses’ positions in the domestic market. To boost competitiveness of the national business, access to cheap imported components and equipment is needed – this, in particular, determines the structure of the Russian non-resource economy, its “complexity” and export potential.
Issues for discussion:
• What prevents Russia from changing the structure of its economy today? Does Russia have any chance to increase complex production in 10 years? What should be done today, to achieve this?
• What should be the priorities of foreign economic activity strategy in order for Russian business to build up "complex manufacturing and export facilities"? How does the government see these priorities and how does business see it?
• How to reconcile the interests of domestic market protection and exports promotion, in foreign economic strategy?