Perspective trends of Russia foreign economic cooperation with Latin America & Caribbean region

Аuthors

Shevtsova A. S.

Plekhanov Russian University of Economics, PRUE, 36, Stremyanny per., Moscow, 117997, Russia

e-mail: shvedka90@mail.ru

Abstract

Since 2005 the Russian — Latin American commodity turnover increased twice and by the end of the 2015 first quarter totaled 17.8 billion USD. Latin America is the only region of the world, for which the increase in Russian exports is observed.

The goal is to consider the problems that arise in the process of cooperation between Russia and the LAC countries in the region, factors that have a direct impact on changes in the external economic relations of today, as well as to determine the prospects of their development.

The subject of this study is external economic relations, which determine the state of the level of interaction between the states, regional groups and other parties of the world economy, gives the opportunity to defend the interests of other States in the field of economy, as well as identify some of the theoretical aspects of international relations.

This defines the range of problems underlain the presented research and its structure:

• Analysis of the disputed and controversial issues of modern Russian development strategy of foreign economic relations in order to develop a clear position of Russia in relations with the countries of LAC;

• Reasoning and consideration of external economic relations, against the background of the political situation in the international arena;

• Using logic relationship between objective and subjective factors in the development of foreign economic relations.

High practical relevance of the theme is stipulated by the great interest to the issues of foreign economic cooperation between Russia and the LAC countries, which do not hold a strong position at international import and export markets yet. Analysis of these issues has both theoretical and practical significance.

The scientific novelty of this study is as follows:

• A generalized analysis of the economic situation of the LAC region in terms of attracting foreign investments and defining the main directions of development of foreign trade of Latin American countries with the Russian Federation in the future is carried out;

• The range of the most promising trade and economic partner of Russia in the of LAC countries is defined.

The field of application of the results may contribute to the development of a number of measures at the state or municipal structures level for the development of foreign economic strategy with the involvement of practically poorly known regions of LAC.

Keywords:

foreign economic cooperation of Russia, foreign policy strategy of the Russian Federation, trade and economic contacts of Latin America and the Caribbean, supplies of Russian aircrafts

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