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The necessity to adopt of this document has been determined by the fact that an entirely new situation is developing in the sphere of Russia’s foreign economic relations under the influence of both external and internal factors. The external factors manifest themselves, first of all, in the strengthening of commercial and political influence of foreign states on the sphere of international trade, which requires that the whole range of foreign economic instruments should be applied in Russia. The internal factors are mostly related to the necessity of Russia’s switching over to the innovational model of socio – economic development. The document determines the key priorities, targets and parameters of the foreign economic policy of the Russian Federation, with due regard for long – term targets and tasks of Russia’s internal policy at the stage of her switchover to the innovational type of socio- economic development. In the course of the draft strategy’s development, all the major trends of development of the global economy were duly taken into account, and consideration was given to the present state of Russia’s foreign economic relations.
The main target indicators of the Foreign Economic Strategy are as follows:
- increase of Russia’s share in the world economy from 3.2 % of world GDP in 2007 (in terms of purchasing power parity) to 3.8 % of world GDP in 2015, and to 4.3 % in 2020;
- increase in Russian exports from 354 billion USD in 2007 to 630 - 650 billion USD in 2015, and to more than 900 billion USD in 2020 (on condition that world oil prices will be fluctuating within the limits of 80 to 90 USD per barrel in 2007 prices);
- a more than six-fold growth in the export of engineering products (up to 110 - 130 billion USD);
- an almost fourfold growth (to 45 billion USD) of the export of transportation services by 2020, by comparison with the year 2007;
- a no less than 5 – 10 % growth of Russia’s share in the world markets of hi-tech goods and services by 5 – 7 relevant positions.
The foreign economic strategy is intended to conduce to the implementation of long – term initiatives and big economic projects being carried out on an international scale. In this connection, the most important tasks are as follows: the achievement of the State’s comprehensive assistance to Russian companies in the sphere of export and investment in foreign countries; the creation of a system for the identification and removal of obstacles to access to external markets; and the adoption, by Russia, of entirely new foreign - economic instruments.
The strategic goals of the country’s foreign economic policy should be achieved through focusing on its first priority areas, where all the actions should be strictly correlated with the current internal aims, requirements and capabilities of the Russian economy. Russia’s strategic goals are as follows:
- achievement for Russia of a leading position on world markets of hi–tech products and services, in accordance with her specialization in the global scientific and technological sphere;
- promotion of exports and assistance to the moves designed to achieve the global competitive status of Russia’s manufacturing industries and her sphere of services;
- integration of Russia into the global transportation system and the materialization of the transit potential of the Russian economy;
- increasing the role of Russia in enhancing global energy security and strengthening her positions on the market of hydrocarbons;
- the integration of the Eurasian economic space, to be centered on Russia;
- the creation of an international financial center in Russia and the conversion of the ruble into a regional reserve currency;
- increasing the role of Russia in the formation of a new global economic order.
At the same time, the achievement of Russia’s strategic goals envisages the implementation of regional and national first priority aims in the medium- and long – term perspectives. The geographical diversification and the deepening of the country’s foreign economic links will be conducive to lowering the risks connected with the constant changes of the balance of forces in the world and with the restructuring of the international economic order.
The RF’s major partners in the economic and political spheres are the CIS countries, the EU, China, the USA and the rapidly developing countries of Asia. It is exactly with these states that Russia is most actively developing cooperation in the field of commerce, investments and technology. This cooperation has all the chances to become a basis for upgrading the structure of Russian exports, for acquiring new markets and for materializing the country’ potential in the sphere of transit transportation.
At the same time India, the countries of Latin America and the African states, which are rich in natural recourses, are becoming increasingly important for Russia from the point of view of development of her foreign economic links. The authorities are planning to considerably intensify the activity of the Russian Federation in international economic organizations and regional associations (such as APEC, SCO, etc.).
The major specific feature of Russia’s contemporary model of controlling foreign economic activity (FEA) is the necessity to influence the international business activity of Russian companies and to increase the role played by the Federation’s subjects and territories on external markets.
The implementation of Russia’s foreign economic policy requires the creation of a system of institutions capable of securing her national interests in the world economy, increasing the competitiveness of Russian companies on international markets, as well as guaranteeing the flexibility and effectiveness of state regulation of the foreign economic sphere and the ability of this regulation to rapidly and adequately respond to external risks. Such a system of institutions would comprise three major blocks: comprehensive assistance to export and direct investments in foreign countries; regulation of access of foreign goods and investments to Russian markets; and assistance to control in the foreign economic sphere.
In order to implement the aims concerning the first-priority areas of foreign economic policy in accordance with the new model of state regulation of FEA, it has been planned that the following instruments and documents of operative management should be developed and adopted:
- short–term programs of promoting industrial exports, determining the key directions; they will be prepared with regard to the importance and the specific features of individual foreign markets, as well as the requirements of Russian exporters;
- bilateral plans of trade and economic cooperation involving the key partners of the Russian Federation; these programs and plans will be implemented with the help of Russia’s trade missions in foreign countries;
- “The Major Lines of Customs and Tariff Policy” will be approved on an annual basis.
On 30 September 2008, the Council on Foreign Economic Activity under the RF Ministry of Economic Development held its founding session, chaired by RF Minister of Economic Development E.
S. Nabiullina. Within the framework of this session, members of the Council discussed the draft of the Foreign Economic Strategy submitted to their consideration. Representatives of business circles expressed a number of views and recommendations, to be taken into account in the process of finalizing the document. The improvement of cooperation of the federal authorities and business circles seems to be especially important in the context of finding adequate solutions to the problems faced by the State in the sphere of FEA.
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