The role of foreign trade in Russia’s food market growth

Abstract

The agroindustrial complex is highly relevant not only for a country but also in international economic relations. One of the important goals of the country in food security terms is to develop domestic agricultural production to satisfy domestic demand and limit dependence on imports. Nevertheless, the indicators of the Russia’s food independence laid down in the Doctrine allow us to conclude that the country will rely on imports in the long term. Besides, the government has announced plans to stimulate exports growth resulting in seeking ways how to achieve it.
The article analyzes the state of Russia’s food market in terms of opportunities to increase export potential, as well as the reasons for the country’s continued dependence on imports of agricultural products, raw materials and food despite the current policy of import substitution. It is concluded that the most realistic goal in the medium term is to expand exports through geographical and commodity diversification with gradual reduction in imports of agricultural products while aspiring to become a net exporter.