Russia and Turkey will lift mutual trade restrictions, including those on the supply of grain. However, the Russian embargo on Turkish tomatoes will remain in force. Russian President Vladimir Putin shakes hands with his Turkish counterpart Tayyip Erdogan during a news conference following their talks in Sochi, Russia, May 3, 2017. Source: Reuters During talks in Sochi, Russian President Vladimir Putin and Turkish President Recep Erdogan agreed to lift almost the restrictions on bilateral trade between the two countries,reportedthe TASS news agency on May 3. "We've agreed on a systematic solution for all the problems related to the restrictions,". Read more...
Russian companies are optimistic that the sale of cheap grain and high-quality sweets will help create a climate of “comprehensive strategic cooperation” with China. However, they face completion in the Chinese market from more familiar food brands from the U.S., Australia and New Zealand. A customer chooses leisure food in a supermarket in Yinchuan, capital of northwest China's Ningxia Hui Autonomous Region. Source: ZUMA Press/Global Look Press Despite low export prices (and Xi Jinping’s craving for Russian ice cream), Russia's food producers face daunting challenges in entering a highly competitive market. Probably, the biggest problem. Read more...
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