Import substitution is an anti-crisis measure

A small and medium business event called “Import Substitution – a New Course for Small and Medium Business in Russia” has today opened at the premises of the Tatarstan Cabinet of Ministers. The organisers are the government of Tatarstan and the Russia small and medium business public organisation Opora Rossii.

Attendees at the forum were the Prime Minister of Tatarstan Roustam Minnikhanov, president of Opora Rossii Sergei Borisov and small and medium business delegates from across Russia. Over one thousand Tatarstan entrepreneurs took part in an online conference within the event.

While making welcoming remarks, Roustam Minnikhanov noted the forum was during the day to focus on the most relevant issues relating to import substitution. Each of the regions has something to say on the matter and efforts should be combined in this area. With the ongoing global crisis, exports have declined and many firms are readjusting their production for domestic markets. “I hope this forum is to give momentum to small and medium business,” said the head of government.

“Import substitution is an extremely urgent topic amid the global crisis,” Sergei Borisov noted. According to him, it had not been “a good life” that had made Russia open up its doors to foreign goods. Now, conditions have to be created for promoting domestic companies without resorting to protectionism. Many high-quality goods at competitive prices could be manufactured locally, he considers.

Sergei Borisov said the complicated certification procedure and closedness of the regional markets is a deterring factor for business development. The Opora Rossii’s chief highlighted the Tatarstan’s effective practice of holding electronic trade sessions for public purchasing, which, he said, should be propagated throughout Russia. Sergei Borisov made a special mention of the Kama industrial park’s solid performance amid the crisis. The Russian delegation had toured the park the day before.

The forum is to review issues related to developing an infrastructure to support small and medium businesses, financial support of small and medium business and design and implementation of technology equipment for import-substituting factories.