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Putin calls for businesses to fill sanctions gap
普京呼吁企业弥补制裁损失
Russian President Vladimir Putin said Tuesday that companies in his country should work to increase exports of non-raw material products as a way for Russia to cope with western sanctions and a depreciating rouble.
Putin said at a business forum in Moscow that domestic industries should expand before western sanctions are lifted and they have to compete with foreign imports again. The president said the Russian government has drafted some development plans for industry and agriculture, and Russian businesses should do more to accelerate implementation of the plans.
"The current situation is not very simple, not to say difficult. The change in the rouble’s exchange rate improves the cost competitiveness of Russian products and opens the door to possibilities of taking control of new niches in both national and international markets. But we should keep in mind, this is time limited. That’s why we must take advantage as soon as possible to increase non-energy exports and to develop our own market," Putin said.
Putin said Russia should not overly rely on domestic products. He stressed the importance of attracting foreign investment and introducing foreign technologies, as well as encouraging the development of small and medium sized enterprises.
The prices of imported goods have soared as the rouble has weakened and sanctions and counter-sanctions have hurt trade.
The World Bank forecasts that the Russian economy will contract 3.8 percent this year.
