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Russia plans to export quarter of automobiles by 2020

Xinhua, May 26, 2016 Adjust font size:

Russian automobile exports may grow to a quarter of total global production by 2020, according to Russia's Minister of Industry on Wednesday.

The new automobile industry development strategy will be approved by the year's end, said Minister of Industry Denis Manturov quoted by the Russian news agency TASS.

"We should certainly implement new support measures at the first stage, stimulating deliveries to the international market," the minister said.

He said branches of industry such as automotive, transport mechanical engineering and lighting will remain in an economic risk zone until the demand for products recovers in Russia.

Manturov added that the overall improvement of the economic situation at home and abroad will primarily contribute to an exit from the risk zone. Endi