Trade between Moscow and Latin American countries increased by 54.4% to $1.84 billion in the first half of this year, said the capital's Deputy Mayor Vladimir Yefimov.

According to him, the city authorities highlight Latin direction as one of the priorities for the development of the capital's non-energy exports. He added that although the pandemic has disrupted trade relations, chains and supply of goods, this year there has already been a recovery in trade relations.

"The trade turnover between the capital and Latin American countries in the first half of the year was US$1.84 billion and increased by 54.4% relative to the first half of 2020 and by 26.6% relative to the same period in 2019," Yefimov clarified.

In the first six months, Moscow's non-energy exports to the region amounted to about $213 million - a four-fold increase over 2020 figures.

Shipments of plastics and plastic products, packaged drugs, diagnostic reagents and detergents from Moscow to Latin America have increased this year.

According to Sergio Contreras, executive vice president of the Mexican Council for Foreign Trade, Science and Technology, the region is ready to work with Russian companies in the aerospace industry, petrochemical industry, automotive industry and production of auto parts. Moreover, Latin American companies are interested in cooperation with manufacturers in the sphere of renewable energy sources, machine-building, transport, construction and chemical industries.

The experts of the Mosprom center also mentioned the integration of Moscow manufacturers in the implementation of infrastructure projects as a promising direction, as only in Mexico there is a program of 39 projects for the construction of highways, ports, railways, energy projects, as well as projects for water supply and waste processing.

Made in Russia // Made in Russia

Author: Ksenia Gustova