04/07/2024

Russian President Vladimir Putin gave this instruction to the government. Support measures will be known before August 1, but for now let’s discuss how this will affect trade between countries and what benefits it will bring to business.

Which countries is Russia increasing trade ties with?

Of course, the countries of Asia come first. Trade turnover with China increases almost every quarter. Vietnam, Laos, Indonesia and other Asian countries also play a big role in trade for Russia. The volume of bilateral trade between the Association of Southeast Asian Nations and Russia reached $15.5 billion in 2023.

What products are the business interested in?

It is clear that oil and petroleum products play a major role in trade turnover with Asian and African countries. But other market companies also have something to offer foreign partners.

We recently wrote about Vietnam. This country happily purchases large quantities of fertilizers, baby food and other products.

Also, many countries are interested in the supply of fertilizers

Agriculture is actively developing in both Africa and Asia. This means that countries need fertilizers in order for the harvest to be good. They are ready to buy fertilizers from Russia. We are also ready to buy technologies from this area, spare parts for machines that are involved in this area.

Countries in Asia and Africa are ready to buy other food products

Firstly, sweets play a big role in international trade. In China, for example, honey from Russia is in demand. There is no natural product produced in this country. Therefore, businessmen buy it at high prices. In rubles, for example, per kilogram, they offer from 7,000 rubles. The cost is affected by product shortages. Russia cannot provide exports on a large scale. Mostly small farms trade honey with China.

In Laos and other Southeast Asian countries, chocolate from Russia and pine nuts are valued. Companies from Asian countries are ready to buy large quantities of such goods.

If we talk about African countries, they are interested in chemical products, fertilizers and agricultural equipment.

What products from Asian and African countries can be useful for your business?

Coffee. Most of the grains are supplied to our country by Vietnam. And if you own a chain of coffee shops, then why not enter into contracts? Coffee from this country is highly valued throughout the world. And your clients will definitely appreciate it!

If we talk about China, this country can help almost any business from Russia. Suppliers from China bring clothing, food, equipment, and almost all goods that are allowed for transportation to Russia.

Fruits. Moreover, both fresh and dried. They are very popular among Russians. This means that their supply and further sale can bring additional profit for your business.

Drinks and products with a long shelf life. If we talk about Asia, a lot of such products are produced there. And many are already sold in retail chains in the Russian Federation. Noodles, canned meats, snacks, low-alcohol products, juices and carbonated drinks are popular.

How will support measures help?

Most likely, we are talking about simplifying and reducing the cost of logistics services. Now logistics are well established both in the direction of Asia and in the direction of Africa.

But additional opportunities will be useful for both business and the logistics sector in general. Logistics is developing very quickly. And what is relevant for exporters and importers now may be completely irrelevant in a few months. So we continue to monitor the further development of logistics. And if you are not yet doing business with countries in Asia and Africa, then you definitely have time to negotiate with suppliers and conclude profitable contracts.