The Use of Parallel Import Mechanism in the System of Foreign Trade Relations in the Context of Global Economic Changes

Abstract

In the context of global geopolitical developments related to the special military operation, which led to new economic sanctions against Russia by unfriendly countries, the principles of foreign trade relations with foreign partners were radically reviewed. Among the used instruments of cooperation, it is necessary to single out parallel import as the most effective way of foreign economic activity in the current conditions. The Government of the Russian Federation has prepared the whole necessary regulatory base for the legalization of this type of foreign trade activity. The article considers the specific features of the parallel import mechanism in the context of counteracting economic sanctions in the field of trade. An assessment of the positive and negative factors of using the parallel import mechanism, as well as possible risks, was made. The aspects of transactions’ documentary support carried out in the context of parallel imports, including customs clearance, are considered. The author points out the obvious benefits of using the parallel import mechanism, both for the sphere of trade and the consumer market as a whole. Based on the study and systematization of the latest regulations and data from periodicals in the field of parallel import problems research, a hypothesis was proposed, the essence of which is that the use of the parallel import mechanism will have a positive impact on the development of foreign trade relations and contribute to meeting the needs of the domestic market for foreign goods that had been restricted from entering the country because of economic restrictions and sanctions. Based on the use of statistical and factor analysis methods, a forecast of the development of foreign trade relations in the context of the use of the parallel import mechanism is proposed.