President of the Chamber of Commerce and Industry: Russia opens up new markets for its products

The head of the Russian Chamber of Commerce and Industry, Sergei Ekaterina, spoke about Russia’s trade prospects in the light of the closure of European markets for Russian products under Western sanctions.

In a conversation with RT on the sidelines of her participation in the Russian-Eastern Economic Forum, Ekaterina indicated that work was underway to find alternative markets for non-primary exports from Russia, after their reduction due to sanctions.

He stressed that Russia has promising markets for its products, and work is underway to adapt to the new reality and develop new markets, including the ASEAN countries (Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam).

Ekaterina said that trade between Russia and ASEAN countries increased last year (2021) by 27% compared to the previous year, adding that national currencies are accepted in trade with these countries.

Regarding his assessment of the current issue of the Russian-Eastern Economic Forum, the official emphasized the impossibility of isolating Russia, since most countries of the world, including the Arab world, do not support the sanctions imposed by Western countries against Russia.

The official added that Asia-Pacific and ASEAN countries are actively participating in this year’s economic event, which indicates the inability to isolate Russia, noting that delegations from the European business sector are participating in the forum.

Regarding Russia’s energy exports, the official said oil and gas exports are declining in quantity but growing in value thanks to Western sanctions that have boosted energy prices.

He stressed that Russia will continue to export agricultural products and wheat, despite Western restrictions, noting that grain is exported to Egypt.

And on Monday, the Eastern Economic Forum events and activities kicked off in the city of Vladivostok, in the Russian Far East, amid strong international participation, especially from Asian countries.

The event gathers more than 4000 participants. The forum is an effective platform for the exchange of views and experience between politicians, officials and representatives of the business sector from around the world.

Source: RT

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