Min says sees potential of boosting Russian industrial exports

GORKI, Moscow Region, Apr 25 (PRIME) -- Russian has potential to raise exports of vehicles, chemicals, metals products and timber significantly, Industry and Trade Minister Denis Manturov told reporters on Wednesday.

He said that exports of vehicles can rise by U.S. $17 billion, of chemicals, fertilizers and pharmaceuticals by about $15 billion. Timber exports will depend on the speed of construction of paper mills, metals exports will depend on geopolitical factors.

“The key support mechanisms are compensations for research and development, in particular, of export-oriented projects, these are subsidies to all-encompassing investment projects, cut-rate loans of the Fund for Industry Development up to reducing interest to export-oriented projects to 1%,” Manturov said.

The minister also suggested allocating more money to logistic centers and industrial zones.

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