Analysts: Russia will turn crises into new opportunities

Analysts: Russia will turn crises into new opportunities

Despite all the difficulties that are caused by low oil prices, they can serve as an additional impetus to the development of the Russian economy, experts say.

MOSCOW, 15 Jan. Based on the commitment to the improvement of the economic structure and cooperation with other countries, Russia will be able to wrap an existing crisis situation to his advantage, writes Chinese news Agency “Xinhua” with reference to expert opinion.

“The decline in oil prices could give a boost to the optimization of the structure of the Russian economy, in particular to the growth of high-tech industries, because Russia has a substantial potential and opportunities for the development of high-tech industries”, — said the Professor of the Department of international politics Institute of international relations Lo Incze.

Analysts also note that the status quo creates new prospects for expanding cooperation between Russia and China. This is primarily due to the need to expand Russia’s export markets for traditional energy sources. The most important here is the implementation of major infrastructure projects in the framework of the EEU mates and “Economic belt “silk road”.

According to Luo Incze, currently Russia is sharper than ever, needs Chinese experience and technology in production of traditional energy resources, which means that in this area we can expect further expansion of cooperation between the two countries.

In addition, for the recovery of the economy, Russia is committed to the adjustment of industrial structure and the development of innovative economy in China is interested and is actively changing the economic model, focused on innovation and domestic consumption, says a leading researcher of the Center of researches of East Asia and SHOS MGIMO Andrey Ivanov. Open great prospects for cooperation between the two countries in aerospace, aviation, nuclear power, and also in the sphere of agricultural production and environmental protection, the expert concludes.