Report: Russia’s chemical products exports may double till 2024

MOSCOW, Jan 22 (PRIME) -- Russia’s exports of chemical products may double to U.S. $34–35 billion until 2024, Deputy Industry and Trade Minister Viktor Yevtukhov said in an interview to Rossiya 24 television channel broadcast on Tuesday.

“I can say that the chemical industry will take an active part in implementation of our plan to boost exports. We plan to double these exports. Today they stand at $17 billion, and we see prospects to grow to about $34–35 billion until 2024,” he said.

Russia produces much basic chemicals and fertilizers, but it has to create facilities for new products, as well as small and medium-sized chemical facilities. The Russian authorities defined six major technological directions and worked out about 130 projects with investment totaling over 400 billion rubles that will be implemented in 40 regions of Russia, he said.

Russia needs to substitute imports of certain types of chemical fiber, polymer resins, paints and lacquers, sealant compositions, and acids. “At the same time, we have the goal of raising our non-energy exports. In this regard, we’ve defined about 40 new projects totaling over 600 billion rubles until 2024,” he said.

(66.3634 rubles – U.S. $1)

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