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Russian brands are booming – Kremlin’s economic adviser

Russian President Vladimir Putin’s economic adviser, Maksim Oreshkin, has said that new domestic brands are rapidly growing in Russia and expanding into foreign markets.

Speaking at the Eastern economic forum in Vladivostok, Oreshkin said that “Russian brands are taking over the domestic market and entering international markets, and the process is gaining momentum.” the exodus of Western firms from Russia has freed up niches that are now being filled by local manufacturers, who produce better quality goods, such as clothes and toys. new jobs are being created and salaries are growing as part of the process, he added.

The four-day Eastern economic forum is aimed at expanding cooperation in trade and investment with all interested foreign partners. around 7,000 people are expected to participate at this year’s forum, with the largest contingents arriving from India, China, Laos, Mongolia, and Myanmar.

source Miin