Russia in the caspian region: international trade prospects

Mikhail Bazhenov, Partner, Capital Projects & Infrastructure, Debt Advisory Leader, PwC participated in the discussion on the development of the Caspian region on the closing day of the St. Petersburg International Economic Forum.

The Caspian region shows great potential for successful social economic growth. Though the global sea trade continues to grow, the potential for cooperation in the Caspian region is not being utilized to its fullest potential, as the volume of cargo flowing through Russian ports decreases each year. By increasing the cargo turnover through the Caspian Sea, Russia will boost its competitiveness, strengthen its geopolitical and political presence in the Caspian region, and develop sustainable economic, transport, logistics and cultural ties with the Caspian states.

In his speech, Mikhail Bazhenov, in particular, noted that grain supplies could become a driver for the development of trade in the Russian part of the Caspian Sea in the coming years. He also noted that such measures as infrastructure projects being developed in the region, interaction and provision of a single transit corridor, convenient workflow, transit priority that will save delivery time, transparency of operations, reducing the role of support in the form of so-called “cronyism” for inefficient participants in the transport chain can significantly increase the attractiveness of the route.

Among the participants were Stanislav Georgievskiy, Deputy Director of Trade Policy Department, Eurasian Economic Commission;  Ivan Grishanin, General Director, Russian Container Company; Vitaly Mankevich, President, Russian-Asian Union of Industrialists and Entrepreneurs; Mukul Sarkar, Chief General Manager, Export-Import Bank of India; Azer Talibov, Deputy Minister of Economic Development of the Russian Federation; Xu Jinli, Chief of Representative Office in Russia, China Council for the Promotion of International Trade; Sergey Chebotarev, Minister of North Caucasus Affairs of the Russian Federation.

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