Arapova E.Ya.Moscow State Institute of International Relations (University) of Ministry of Foreign Affairs of Russian Federation, Moscow, Russian Federation arapova_katrin@mail.ru
Importance Whereas political and economic tensions with the Western countries escalate and the Russian economy has to overcome structural disproportions, the State mentions the need to diversify foreign economic partners, rather than the production and export structure only. In this respect, it is reasonable to carry out a deeper analysis of Russia's economic cooperation with the Pacific RIM countries in trade and investment. Objectives The research mainly aims at identifying the most promising opportunities of expanding Russia's cooperation with the Asian countries, evaluating consumer and investment demand in terms of strategic interests of the country. Methods The research employs official papers and databases of governmental organizations of Russia and the Asian partners, discussions on prospects for developing economic partnership with the Asian regions. I applied a systems approach, logic and comparative analysis, qualitative and quantitative analysis of statistical data, and expert assessments. Results I determined key trends in the current economic development and economic policies of the Asian partners, found priorities of their demand for import substitution intended for further export, trade and investment. Conclusions and Relevance I substantiate the need to expand trading and investment cooperation of Russia with the Asian countries and demonstrate that the Russian businesses may supply goods of higher value added to the Asian markets, rather than raw materials and unsophisticated goods. I conclude that India and Indonesia may become priority trade partners for Russia, with Japan, China, Korea, and Singapore bringing investment opportunities.
Keywords: trade relations, investment cooperation, export-oriented import substitution, Asian region
References:
Arapova E.Ya. Ekonomicheskie strategii stran Vostochnoi Azii. Novye tendentsii razvitiya [East Asian countries' economic strategies: new trends of regional development]. Aziya i Afrika segodnya = Asia and Africa Today, 2015, no. 2, pp. 24–28.
Arapova E.Ya. Vostochnaya Aziya: diversifikatsiya istochnikov ekonomicheskogo rosta [East Asia: diversification of economic growth sources]. Aziatsko-Tikhookeanskii region: ekonomika, politika, pravo = The Asia-Pacific Region: Economics, Politics, Law, 2014, no. 3-4, pp. 62–74.
