Why Trading with the CIS is Profitable – Forum "Made in Russia" Responds

On October 14, during the International Export Forum "Made in Russia," organized by the Russian Export Center (part of VEB.RF Group), a business dialogue took place about promoting products to CIS countries. The discussion involved representatives from businesses, chambers of commerce, and export support institutions from Russia, Armenia, Kazakhstan, Kyrgyzstan, and Uzbekistan.

In 2023, trade turnover between Russia and CIS countries amounted to 8.8 trillion rubles, an increase of 5.8% compared to the previous year. The main focus of the discussion was on import substitution, boosting export activity, and finding promising niches for Russian companies in CIS markets.

Armenia is an important trade partner for Russia, as demonstrated by the figures: trade turnover in 2023 reached $7.4 billion, and in the first half of this year alone, it grew 2.5 times to $8.3 billion. "The Russian Export Center places great importance on developing cooperation with the Republic of Armenia. We actively assist Russian businesses in finding potential buyers, organize negotiations with Armenian counterparts, and provide platforms for discussions. With the support of the REC, exporters have signed deals worth over $60 million," said Vigen Enokyan, head of the REC's office in Armenia.

Sergey Kuklin, Deputy Chairman of the Board of Kazakhstan's Export Credit Agency, also participated in the session, highlighting that trade turnover between Russia and Kazakhstan exceeded 2.5 trillion rubles, despite a 9.4% decrease in supplies from Russia. Despite challenges, the countries aim to increase mutual trade to $30 billion in the coming years, a goal in which the Russian Export Center actively participates. "Russia and Kazakhstan are not just neighbors but strategic partners, united by a common history, culture, and mutually beneficial economic cooperation. The REC actively supports Russian exporters across all sectors, with nearly $1 billion in deals reached in the first nine months of 2024," emphasized Oleg Pechenkin, head of the REC office in Kazakhstan.

Kyrgyzstan also remains a key strategic partner for Russia, with trade turnover doubling in recent years. "Trade between the countries is steadily growing, and the structure is shifting in favor of non-raw, non-energy goods. The Russian Federation traditionally holds a leading position in Kyrgyzstan’s imports. In 2024, the REC provided over 700 services to support bilateral trade between Russia and Kyrgyzstan, such as partner searches, organizing negotiations, and insurance services," noted Ishkhan Buyuklyanov, head of the REC office in Kyrgyzstan.

Uzbekistan continues to be an important trading partner for Russia. Over the past year, Moscow and Tashkent have been expanding their external economic activities. In the first seven months of this year, trade turnover grew by 29.1%, reaching $6.8 billion. During this period, exports to Russia saw an increase in 175 product categories, with 64 new product categories being exported, amounting to $11.3 million.

Pavel Bukhanov, head of the REC office in Uzbekistan, emphasized the role of the REC in business processes: "Uzbekistan offers Russian companies vast opportunities for business development. The country, with its fast-growing economy, stable political environment, and favorable investment climate, presents unique opportunities for ambitious projects. In 2024, the REC provided over 1,400 services to Russian exporters involved in trade with Uzbekistan."

The session’s conclusions highlighted the importance of expanding economic ties between Russia and CIS countries, especially in the face of new challenges and opportunities for Russian businesses. Experts agreed that the CIS remains a crucial market for Russian exporters and stressed the importance of further strengthening cooperation within strategic initiatives aimed at developing non-resource exports.

The International Export Forum "Made in Russia" was organized by the Russian Export Center (part of VEB.RF). General partners include EXIAR and EXIMBANK. The business program partner was the Moscow Government. The operator of the forum's business program was the Roscongress Foundation.

The forum’s information partners included: RBC, Russia 24, RT, Mir, Izvestia, TV BRICS, Business FM, Moscow 24, RIA Novosti, Interfax, Kommersant, Rossiyskaya Gazeta, Expert, News.ru, Moscow Small Business, FederalPress, Agro-Industrial Complex Bulletin, Economic Bulletin, and Sudostroenie.info.