WB: Russia's foreign trade least effective among BRIC states.

By bne IntelliNews April 13, 2012
According to the report by the World Bank on Russia's exports, the effectiveness of foreign trade of Russian companies on the foreign markets is considerably lower than that of other BRIC (Brazil, Russia, India and China) countries. Russian exports have difficulties both entering the foreign markets and staying there: WB's study shows that probability of Russian exporters having the same trade partners within two years is 57% and within 2 years 22% (for example, over 70% for two years for Chineses exporters). Russia is not fully realizing its trade potential with China and India, as well as some G8 states including USA, Italy and Germany, WB believes, linking low effectiveness of exports to insufficient international competitiveness in the domestic non-oil and gas industries. World Bank urges to more transparently regulate the mechanisms of state support for companies that is often uneven and impedes competition, improve business environment and fight the excessive red tape associated with entering the export markets.

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