Development of regional exports in the new economic conditions (the case of the Tyumen Region)

Abstract

The increasing role of the Russian regions in the development of international cooperation and economic activity highlights the country’s course for foreign economic development, as the regions aid in fulfilling the international–Russian treaties and accelerate the country’s economic integration into the world economy. The following indicators of foreign economic activity development asses the regions’ performance: growth of non-resource non-energy exports and an increase in the number of export-oriented enterprises. However, the achievement of normative indicators is now facing an extremely unfavorable foreign policy context, “renaissance of non-cooperativeness” and sanctions restrictions, changes in market conditions and exchange rates; as well as other factors requiring fundamental rethinking and reformatting of both external contours and internal mechanisms for the regions’ effective international cooperation and foreign economic activity. This article aims to analyze these factors using the Tyumen Region as the object of study. One of Russia’s leading regions, the Tyumen Region regularly ranks high in the National Investment Climate Rating. The positive indicators in the industrial and investment spheres of the region confirm the potential for the development of regional exports. Using the methods of comparative analysis and processing of statistical reporting data and analytical reviews, the authors identify new foreign policy guidelines course and propose business support measures for effective development of international cooperation and foreign economic activity of the region. These measures can contribute to an increase in the number of export enterprises, in export volume, in foreign investment inflow into the region, and in investment attractiveness.