Foreign Economic Activity of Adygeya
The Republic of Adygeya is aiming at widening the foreign trade relations which is proved by International Economic Conference with the participation of such countries as Libyan Arabian Djamakharia, Kuwait, Saudi Arabia, Shri Lanka, the Republic of Sierra-Leone, Jordan, Germany.
The economic potential and outlook for investments were under the discussion at the conference. The exhibition of the products turned out by the enterprises of Adygeya and the neighbour regions attracted the attention of the participants of the conference. The investment projects on the development of food processing, timber processing and tourism were of special interest.
The traditional partners of the republic in foreign trade relations are Germany, France, Cuba, Ukraine, Georgia, Tajikistan and other members of CIS.
The foreign trade turnover of the Republic of Adygeya for the first six months of 2001 accounted for 14,3 mln. US dollars, that is 3,8 times higher against the last year period. The turnover growth resulted from the increase of output (by more than 5 times] against of the some period of the last year.
The volume of export in the second quarter was decreasing against of the last year level and for the six months of 2001 it accounted for 0,9 million US dollars, that is 73% of the same period last year and 6% of export-import supplies.
The share of ex-USSR countries in the foreign turnover reached 95%.
The import prevails both in the trade relations with ex-USSR and with the members of CIS.
The share of CIS members in export of the Republic of Adygeya increased from 19% to 26,6%. The share of ex-USSR countries in import as well as trade density increased; the share of CIS members decreased from 10,3% to 3,3% for the first six months of 2000.
Export deliveries for the same period accounted for 0,9 million US dollars. The main export goods traditionally are timber and products of timber processing accounting for 58,9%; equipment - 10,9%, foodstuffs and agricultural products (confectionery, pumpkin seed, grain) - 26,7%.
Import deliveries constituted 13,4 million US dollars. The share of raw sugar in the republic import is 84% expressed in terms of costs.
Equipment, construction materials, agricultural products and consumer goods are imported.
Interregional relations play an important role. The republic practices an economic, scientific and cultural cooperation with 67 regions of Russian Federation and with 35 of them on the basis of contracts and agreements [15 of them were signed on the initiative of the Republic of Adygeya). 53% of all exported products is accounted for the regions which signed such agreements. The work is being done to conclude new contracts and to prolong the period of validity of the existing ones.
Foreign trade activity of the Republic of Adygeya being a component of international contacts of Russian Federation is built in accordance with the main aim of state foreign trade policy of Russia is to become a member of International Trade Organization and to create the best conditions for access of Russian goods and services to world markets.