Russian export to ASEAN market will rise to 10% by 2020

Pyotr Fradkov, Chief Executive Officer of the Russian Export Center said that the center forecasts Russian export to ASEAN countries will grow from 1.5% to 10% by 2020.

“Now we have 1.5% on the market but I believe 10% will be a decent share. It’s fairly achievable by 2020,” he said in an interview with TASS.

“Certainly, we are heavily behind many our partners: China has 18% of supplies to the ASEAN region, the Republic of Korea has 6.5%, and the United States – 7%,” he said.

According to him, good political relations with these countries help Russia to reach this level by 2020, “Russia and the ASEAN nations have very good political level of interaction but it lags far behind in economic terms.”

He said, “Russian companies finally started viewing international markets because domestic markets do not make possible to develop at the pace they would like. A desire to export appears with companies.”