Practices of State Support for Exports in BRICS (Cases of China and Iran)

Abstract

Given the slowing global demand growth and increased competition for sales markets, export support issues have become a constant priority of the government economic policy. Foreign experience in this area is of great interest to Russia, especially that of large developing economies which are members of BRICS and, like Russia, face large-scale trade and economic restrictions from Western countries. This article examines the current areas and mechanisms of state support for exports in China in view of trade restrictions imposed by the United States, as well as Iran, which has been facing harsh international sanctions for several decades. It is emphasized that China’s economic success is largely attributed to an active pro-export policy based on unprecedented financing and consistent work to open foreign markets for Chinese products. The adaptation and development of Iran’s economy under sanctions is accompanied by reshaping of its international trade relations, increased emphasis on promoting exports to the countries that are interested in expanding and deepening bilateral cooperation.