Iran Press/ Europe: According to Kommersant, on the first day of the SPIEF discussion, participants actively discussed foreign trade reform and new logistics.
Central Bank Governor Elvira Nabiullina called for reviewing the benefit of exports at the morning session. "The external situation has changed for the long-term outlook, if not forever," and "we should consider how to make the bulk of production work for the domestic market."
Exporters do not feel encouraged, and they have been looking for ways to have their export routes changed. Exports along north-western routes have already decreased by more than 80%, while eastbound exports have risen by 14%.
Moreover, the majority of market players who took part in the St. Petersburg International Economic Forum (SPIEF) on Thursday used cautious rhetoric, as new counterparties in Asia are needed and transportation capacities should be expanded,
"We cannot push tens of millions of tonnes of cargoes through," Minister for the Far East and Arctic Development Alexey Chekunkov complained. The export infrastructure is lacking coal, food, and other supplies, he said pledging to expand the capacity of ports.
And the departure of foreign freight companies could lead to a deficit of vessels and container ships, FESCO board chairman Andrey Severilov warned.
Buying new vessels is more expensive now, and the cost of freight using other channels, in particular from the Black Sea port of Novorossiysk to China, has increased. Companies have been asking for state subsidies for the construction of additional facilities at ports and a percentage rate viable for buying container ships.
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