Foreign Trade of Russia: Trends and Development Prospects

Abstract

This article is devoted to the analysis of Russia’s foreign trade. The authors identify the main trends, issues and features of Russia’s foreign trade and justify the need for trade facilitation in order to ensure the country’s foreign trade interests. The concepts of “trade facilitation” and “trade facilitation mechanism” are defined. The authors describe the genesis of trade facilitation measures, the main areas for implementation of the relevant measures, and their current economic meaning. In addition, key issues of trade facilitation measures implementation are noted. The arguments in favor of the need to develop and adopt the trade facilitation concept in Russia and to create a national committee on trade facilitation are given. The article also provides suggestions for improvement of customs administration and implementation of priority measures to facilitate trade in Russia in order to ensure its foreign trade interests.