Experts: it is logical to translate Russia's settlements with Asian countries into national currencies

CurrenciesMOSCOW, Mar 29Russia has been negotiating the transition to national currencies in trade settlements with partners in Asia and Africa for more than a year, this is a rather complicated process, but now such a decision looks logical and correct, especially in countries with which the Russian Federation already has extensive trade ties, they said RIA Novosti business ambassadors of the business organization «Business Russia.» «Russia has long been working on the transition to settlements in national currencies with the countries of Africa, the Middle East, Southeast Asia, Latin America. But this is not a quick process, even in the current conditions of external sanctions pressure may be the right and logical decision,» said Yury Korobov, Business Ambassador to Tanzania. types of goods. Russia, he said, now imports legumes, nuts, cotton textiles, coffee, tea and spices from Tanzania. “Tanzania is a very interesting country for investment, where the most promising direction is agriculture and environmental projects,” he said. India, which is the largest consumer market in the world, can provide even more opportunities for Russian business, the business ambassador added to this country Olga Kulikova. She acknowledged that until February 2022, Russian medium and small entrepreneurs refused to work with India, because this is a rather complex market that requires in-depth study and systematic efforts. «Now we will have to quickly fill this gap and learn how to work with Indians,» — Kulikova said. Russia, according to the expert, can supply vegetable oils, equipment, jewelry and IT services there. India itself, according to her, is a serious supplier of cosmetics, household chemicals, agricultural products, electronics, cars, textiles and dietary supplements. South Africa, which is one of the fastest growing countries in Africa, has already significantly increased trade with Russia in 2021, says the business ambassador in South Africa Anna Nadobnykh At the same time, according to her, Russia is still not among the leading countries in exports to South Africa. “But this market is developing rapidly, the Central Bank of South Africa predicts a steady growth in GDP for the next two years,” the expert recalled. The main share of Russian exports to South Africa, according to her, now falls on grain, products of the chemical, metallurgical and pulp and paper industries. The main imports to Russia are fruits, vegetables, mineral products, equipment, vehicles and foodstuffs. for gas in rubles