Prospects for EAEU - SCO - ASEAN General Economic Agenda
The article discusses the prospects for economic cooperation between the EAEU, SCO and ASEAN. Th e similarity of the economic agendas of the EAEU and ASEAN focused on strengthening regional integration and aligning the economic profi les of the participating countries suggests
positive prospects for the transition from bilateral cooperation between the member countries of both organizations to full-format economic multilateral cooperation between them. Th e common economic agenda of the EAEU - ASEAN - SCO is quite possible, despite the existence of mutual long-standing contradictions in some member countries. Such an agenda may be based on resolving issues related to the achievement of the UN Sustainable Development Goals.
Brexit issues and features
Th is article deals with Brexit, its implementation issues, eff ects on the UK, the European Union, the world economy and Russia. Th e relevance and importance of the article is that the UK’s exit from the European Union is unprecedented. Th ere is some uncertainty about the future
of events aft er Brexit. Th us, it is necessary to understand this problem. Th e authors consider various aspects and features of Brexit, give an idea of the essence of this process, its consequences for various spheres (economic, political, social, etc.), the prospects and future of this project.
Russian foreign economic relations
Risk categorization for simplifying customs clearance
This article deals with risk categorization of foreign trade participants based on established criteria. The process of analyzing information about foreign trade participants is revealed. The algorithm for assessing the activities of foreign trade participants using mathematical formulas is
examined. The authors conclude that the existing two-level risk categorization model is fl awed risks and propose a three-level model. Besides, the possibility of applying additional measures to minimize risks, depending on the assigned risk level, is considered.
Impact of export restrictions on exporter’s domestic market
Th e paper analyzes the issues related to assessing the eff ects of introduction of an export duty. A review of the literature on assessing the consequences of imposing export duties is conducted. An analysis of Russia’s wheat market shows that one of the main factors hindering the competitiveness of Russian products in export markets is the relatively low quality of wheat. A retrospective analysis of the introduction of export restrictions on the Russian wheat market is carried out. A quantitative assessment of the impact of export duties on the price of Russian wheat is given, thus allowing policymakers to use this instrument of trade policy more reasonably.
Russia’s agricultural sector: import substitution and WTO membership
Th e article considers the issues of Russian agricultural sector development in the context of WTO membership and Western sanctions against Russia. As a result, instead of increasing food imports, Russia focused on promoting import substitution and made signifi cant progress due to
the implementation of state import substitution programs and rather quick adjustment of the sector to the requirements of the WTO. Despite the fact that the sanctions against Russia de facto go beyond the jurisdiction of the WTO, Russia did not neglect its obligations under the WTO. On
the contrary, Russia has become an active supporter of maintaining the role of the WTO as the key link in the international trading system.
Russia’s trade in digital products: prospects and export opportunities
The article analyzes the current state of Russia’s e-commerce market. Prospects for its growth, as well as export opportunities for Russian companies engaged in e-commerce and digital trade in services are outlined. Particular attention is given to the general statistics on diff erent sectors based on the existing international and national methods of measurement. National and international market stakeholders and their needs are noted. Finally, the main trends in e-commerce market in Russia, its advantages and disadvantages are stated, and suggestions for its further development are given.
Liberalization of currency control regulations aff ecting foreign trade participants
Russia is consistently liberalizing its foreign economic activity. Th is is evidenced by the new initiative to amend the Federal law «on currency regulation and control». It is planned to implement a number of important steps, in particular, legal entities and individuals will be able
to carry out currency transactions without restrictions with funds credited to such accounts in accordance with the requirements of the currency legislation, except for prohibited currency transactions, and are required to submit to the tax authorities a report on the movement of funds.
Labour standards provisions in regional trade agreements
Th e requirements related to labour legislation are issues on next generation trade and investment agenda. Th e trend towards the inclusion of labour provisions in regional trade agreements is becoming increasingly common. Th e most progressive trade agreements are beginning to include specifi c commitments by parties to amend national labour laws. In addition, new mechanisms are being developed to ensure that labour standards are met by the parties to the agreement. However, to date, no precedents have been known for the application of sanctions for violations of labour rights under RTAs.
Necessity to remove barriers to trade in digital products
Due to the development of ICT technologies, simplifi cation of the reproduction, distribution, and information storage the copyright protection becomes more complicated. Th e high level of violations indicates that the current level of protection of intellectual property rights in the digital
environment is insuffi cient. Th e effi ciency of enforcement mechanisms is one of the key issues which have to be tackled. Th e lack of judicial and administrative enforcement measures, provisional measures, as well as criminal enforcement proceedings and penalties, is considered as a
barrier to digital trade development. Nevertheless, individual countries have particular experience that can be used as an example of best regulatory practices.
Business presentations of international trade companies: economic effect
Most Russian companies when entering the foreign market undergo various organizational and economic procedures. Only well-thought-out technological process of company’s market entry may facilitate expansion of its presence. It is underlined that at each stage of the technological
process, a Russian international trade company must have a prepared business presentation of various formats to convince a potential foreign partner of mutually benefi cial cooperation. The author analyzes the possibility to assess the economic impact of participation in events with business presentations - the resulting economic eff ect of the event (participation in the forum, exhibition, conference, business meeting, negotiations), causing an improvement in the performance of the company to enter the foreign market. Th e result can be signing an export sales contract.
International fi nancial management in Russian and Chinese companies’ practice
The article examines the features of international fi nancial management in the current business conditions in Russia and China to circumvent informal institutions and the informal institutional environment. It reveals the essence of international fi nancial management developed
in Russian and Chinese companies in order to avoid the negative impact of informal institutions and the informal institutional environment. It has been found that within the framework of the modern international fi nancial management theory interaction between enterprises and the
institutional environment is usually divided into three stages: institutional evasion, institutional adaptation and synergistic evolution of the institution. Th e author analyzes the reasons why informal institutions and informal institutional environments have led Russian and Chinese
companies to evade institutional activities in international fi nancial management, identifi es their functioning mechanism. First, the presence of local Russian and Chinese institutions, as well as various informal organizations in «host» countries. Secondly, the state institution is an important
explanatory variable for eff ective internationalization. Thirdly, the international institution has a strong explanatory power for eff ective internationalization. Certain measures, areas of focus and activities aimed at solving the problems of institutional evasion by Russian and Chinese
companies, within the framework of international fi nancial management, are suggested. In order to address the existing challenges it is necessary to ensure effi cient functioning of wellknown international institutions, whose policy documents in the form of laws, by-laws, rules and
regulations are binding upon almost all or many countries of the world, including Russia and China. It is imperative to create appropriate conditions for training a wide range of specialists and managers to improve their knowledge of modern international economic activity norms and
regulations in order to facilitate the growth of international trade and business. It is important to ensure the presence of a wide range of leading telecommunications companies on global markets. In current conditions, coordination of the state regulation and self-regulation functions seems to
be an eff ective measure, with an institutional matrix - its structure, nature and quality of individual elements - as the main object of regulation.
12 - 2019