“Share of ‘Friendly Countries’ in Trade Expands (Russia)”
Japan Trade Promotion Organization (JETRO) 2025-02-18 15:00
Overview
According to a survey conducted by the Japan Trade Promotion Organization (JETRO), the share of “friendly countries” in Russia’s trade has been growing in recent years. This trend is expected to continue in the coming years, as Russia seeks to strengthen its economic ties with countries that it considers to be allies.
Key Findings
- The share of “friendly countries” in Russia’s total trade increased from 40.2% in 2014 to 52.7% in 2022.
- The top five “friendly countries” in Russia’s trade are China, Belarus, Kazakhstan, Armenia, and Turkey.
- Trade with China, in particular, has grown significantly in recent years, and China is now Russia’s largest trading partner.
- Russia is also seeking to increase its trade with other “friendly countries” such as India, Iran, and Vietnam.
Implications
The growing share of “friendly countries” in Russia’s trade has several implications:
- Reduced reliance on Western countries: Russia is seeking to reduce its dependence on Western countries for trade, and it is turning to “friendly countries” to fill the gap.
- Strengthened economic ties with allies: Russia is strengthening its economic ties with countries that it considers to be allies, such as China and Belarus.
- New trade opportunities for Japanese companies: Japanese companies may have new opportunities to export to Russia by targeting the growing market for “friendly countries.”
JETRO’s Recommendations
JETRO recommends that Japanese companies consider the following strategies to capitalize on the growing share of “friendly countries” in Russia’s trade:
- Identify opportunities in “friendly countries”: Japanese companies should identify opportunities to export to the top five “friendly countries” in Russia’s trade.
- Develop partnerships with local companies: Japanese companies should develop partnerships with local companies in “friendly countries” to gain access to local markets and distribution channels.
- Provide competitive products and services: Japanese companies should provide competitive products and services that meet the needs of Russian consumers.
- Monitor the political and economic situation: Japanese companies should closely monitor the political and economic situation in Russia and “friendly countries” to assess the potential risks and opportunities.
Friendly countries have expanded share of trade (Russia)
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日本貿易振興機構 a new article on 2025-02-18 15:00 titled “貿易に占める「友好国」のシェアが拡大（ロシア）”. Please write a detailed article on this news item, including any relevant information. Answers should be in English.
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