Exports f Goods from Russia to EU: Corporate Perspective

388
DOI: 10.20542/0131-2227-2014-8-45-55

A. Nevskaya, Institute of World Economy and International Relations, Russian Academy of Sciences (IMEMO RAN), 23 Profsoyuznaya Str., Moscow, 117997, Russian Federation (a.nevskaya@hotmail.com).

Abstract. The article examines the largest Russian corporations’ role in the exports of goods to the EU countries. The author examines the Eurostat data, concerning Russian exports to the EU within several industries and compares them with the data on the biggest Russian TNC’s exports to the EU countries. It is concluded that the largest companies’ share in the general Russian exports to the EU dominates in all strategic export-oriented industries: oil and gas exports, metallurgy and chemical industry. The lack of diversity and competition together with EU’s biased approach against big state-owned companies makes Russian exporters vulnerable to EU’s open and latent protectionism, which significantly hampers the mutual trade. Russian companies’ position is worsened by the fact that almost all of them follow the price competition strategy. Their product’s advantage is low price so antidumping measures widely used by the EU regulating institutions against Russian exporters are extremely painful and can hardly be avoided or compensated. It is concluded that dozen of the dominating companies are not able to promote Russian trade interests. On the opposite, they contribute to the growth of trade imbalances between the EU and Russia. The most possibly successful way to redirect this development is to involve into mutual trade more Russian small and medium enterprises operating in a wide range of industries. This would diminish the current mutual trade imbalances and release political tension on the European side. It would also create a great opportunity for the Russian economy to raise its efficiency. Some rights of Russian exporters became guaranteed after Russia’s accession to WTO, but structural measures to stimulate Russian SME’s exports to the EU are still needed. It is suggested that the Russian authorities should pay special attention to chemical industry and engineering as these industries’ production is being already exported from Russia to the EU, but the variety and quality of goods are still far from desired.

Keywords: Russian Federation, U, export, TNC, protectionism, antidumping measures, oil and gas companies, chemical companies, engineering companies


Registered in System SCIENCE INDEX

For citation:
Nevskaya A. Exports f Goods from Russia to EU: Corporate Perspective . World Eonomy and International Relations, 2014, no. 8, pp. 45-55. https://doi.org/10.20542/0131-2227-2014-8-45-55



Comments (0)

No comments

Add comment







Indexed

 

 

 

 

Dear authors! Please note that in the VAK List of peer-reviewed scientific journals, in which the main scientific results of dissertations for the degree of candidate and doctor of sciences should be published for the “MEMO Journal” the following specialties are recorded:
economic sciences:
5.2.5. World Economy.
5.2.1. Economic Theory
5.2.3. Regional and Branch Economics
political sciences:
5.5.4. International Relations
5.5.1. History and Theory of Politics
5.5.2. Political Institutions, Processes, Technologies

 

Current Issue
2024, vol. 68, No. 4
Topical Themes of the Issue:
  • Financial Contagion Propagation in Europe under the Impact of Global Shocks
  • Regional Powers on the African Continent: Trends and Prospects
  • Investment Activity of the PRC in the Kyrgyz Republic
  • “Land Grabbing” Concept: Global and National Aspects
Submit an Article
INVITATION FOR PUBLICATION
The Editorial Board invites authors to write analytical articles on the following topics:
  • changes in the processes of globalization in modern conditions
  • formation of the new world order
  • shifts in civilization at the stage of transition to a digital society

The editors are also interested in publishing synthesis articles / scientific reviews revealing the main trends in the development of certain regions of the world - Latin America, Africa, South Asia, etc.