IDENTIFICATION PRIORITY AREAS OF TRADE FACILITATION TO PROMOTE THE DEVELOPMENT OF RUSSIA'S FOREIGN TRADE

Abstract

Currently global economic characterized such trends as increased geopolitical tensions and the expansion of the protectionist measures in the regulation of trade by the world biggest economies. An additional factor that seriously slowed down the global economy growth was the COVID-19 pandemic. These crisis effects provide opportunities for re-engineering the structure of global value chains and development Russian foreign trade. Based on the statistical data contained in the ratings and reports periodically published by the World Bank, the Organization for Economic Cooperation and Development, the International Institute for Management Development, the author identified the main problem areas that impede the conduct of foreign economic activity in Russia as well as barriers of the cross-border movement of goods. The integrated trade facilitation index for Russia was calculated having regard of above mentioned problem areas and barriers. The index characterizes the state of identified problem areas and barriers in relation to 121 countries. The main directions of trade facilitation to stimulate foreign trade and the integration of Russian manufacturers into the global value chains are proposed based on the factor analysis carried out on the basis of the integrated trade facilitation index variables.