Russia to enter new promising markets for growth of non-resource-based exports

Business & Economy May 13, 13:46

Growth of labor efficiency is the key factor for Russia to become one of the world’s top four economies, Alexander Novak noted

MOSCOW, May 13. /TASS/. Russia will enter new promising foreign markets to achieve the objective of growth of the volume of non-resource-based exports, acting Energy Minister, candidate to Deputy Prime Minister Alexander Novak said.

"President has set the task of increasing the volumes of export of non-resource-based non-energy goods by two thirds, and of boosting agriculture products by half. We plan to provide not only the domestic market with own goods, but also to enter new promising foreign markets. In this respect we plan to create favorable conditions for cooperation with friendly countries, meaning, first of all, the launch of new joint economic and investment projects, as well as expansion of transit of goods via international corridors," he said addressing the State Duma (lower house of the parliament).

Growth of labor efficiency is the key factor for Russia to become one of the world’s top four economies, Novak added. "My view is that growth of labor efficiency is the key condition for achieving the goals and tasks set by the president on becoming one of the world’s top four economies in terms of purchasing power parity," he said, adding that those are issues that mainly relate to productivity enhancement, introduction of cutting-edge technologies, staff training and more.

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