ANNOUNCEMENT 19 Jun 2015In June 2015, the government of the Russian Federation announced a new commercial policy plan.
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An official press report of the Ministry of Industry and Trade of the Russian Federation of 19 June 2015 states that, as part of the St. Petersburg International Economic Forum 2015, Alexey Miller, Chairman of the Management Committee of "Gazprom" (holder of world's largest natural gas reserves) and Denis Manturov, Minister of Industry and Trade of the Russian Federation have signed a Joint Import Substitution Programme for industrial products.
"The programme will help create on the territory of the Eurasian Economic Union competitive goods and services in the world market with broad use of scientific and technical potential of the participants, as well as localisation of production on the territory of Russia and the countries of the Eurasian Economic Union" said Mr Manturov.
The programme envisages the creation of a roadmap involving industrial and research enterprises, R&D centers as well as the Gazprom's structural units and subsidiaries. The specific policy instruments to be employed were not stated, so caution is needed in interpreting the types of measures assigned to this report.
It was said that this program will increase the share of domestic energy efficient technologies, equipment, systems and materials, software products, used at the facilities of "Gazprom", and will facilitate the growth of import-substitution in the holding comany and its business units.