MIL OSI Translation. Region: Russian Federation –
17 September 2021, 07:04
Photo by E. Samarin. Mos.ru
Moscow is increasing the volume of supplies of plastics and plastic products, prepackaged drugs, diagnostic reagents and detergents.
Trade between Moscow and Latin American countries in the first half of this year amounted to $ 1.84 billion. This is 54.4 percent more than in the same period of 2020, and 26.6 percent more than in the first half of 2019.
“We single out the countries of Latin America as one of the priority areas for the development of non-resource non-energy exports of Moscow, even despite the serious remoteness of the regions from each other. The pandemic has disrupted some trade relations, supply chains of goods, but this year already marked the restoration of trade relations, “- said the Deputy Mayor of Moscow for Economic Policy and Property and Land Relations
In the first half of the year, the capital’s non-resource non-energy exports to the region amounted to $ 212.58 million. This is four times more than the same period in 2020, when the volume of shipments was $ 51.98 million, and twice the same figure for 2019. Then the exporters delivered goods worth $ 101.3 million.
At the end of the first half of 2021, Moscow increased supplies to Latin America of plastics and plastic products, prepackaged drugs, diagnostic reagents and detergents.
“Moscow is one of the top 10 Russian regions exporting non-primary non-energy products to Latin America, and ranks fifth in terms of export volume. In total, sales were made to 19 countries in the region, with Argentina, Mexico, Brazil, Nicaragua, Cuba and Peru being the main buying countries. At the same time, the main volume of Moscow exports to the Latin American region is accounted for by industrial products, which in the first half of this year were sent to the amount of $ 200.48 million, “said the head of the Department of Investment and Industrial Policy of the city of Moscow.
To develop foreign economic ties, the center for support and development of exports “Mosprom” held an international teleconference “Moscow – Latin America”. It was attended by about 800 people. The experts discussed the prospects for exporting products of capital companies to the region, in particular infocommunication technologies, products for the energy industry and products of the agro-industrial complex.
Dmitry Razumovsky, Director of the Institute of Latin America of the Russian Academy of Sciences, highlighted digitalization as a priority area for cooperation between Moscow and Latin American countries. And Sergio Contreras, Executive Vice President of the Mexican Council for Foreign Trade, Science and Technology, President of the European Section of the Council of Entrepreneurs, believes that it is necessary to cooperate in the fields of renewable energy, mechanical engineering, transport, construction and chemical industries.
According to experts from the Mosprom center, another promising area for increasing export volumes may be the implementation of infrastructure projects in Latin America by Moscow companies.
Centre Mospromsubordinate to the capital Department of Investment and Industrial Policy, is engaged in supporting the capital’s industrial exports and exports of agricultural products. The center’s experts analyze target markets for metropolitan producers, study the risk profile, the state of the industry and its dependence on exports and imports. In addition, Mosprom specialists make individual analytics for companies, which determines the most effective strategy for entering foreign markets. And within buyer’s programMosprom, free of charge and on the basis of specific export needs, helps Moscow companies with the search for counterparties and negotiating with potential buyers abroad, ensures the participation of Moscow manufacturers in international exhibitions and business missions.
EDITOR’S NOTE: This article is a translation. Apologies should the grammar and or sentence structure not be perfect.