Brands that left Russia haven't yet asked to come back - dep minister
SOCHI. May 15 (Interfax) - None of the brands that have left the Russian market have yet asked to return, said Deputy Industry and Trade Minister Roman Chekushov said.
"It is up to the foreign companies themselves to take the initiative regarding the return of their brands. At the moment, I am not aware of any brand or any company that owns a brand having, for example, approached the Industry and Trade Ministry about anything," Chekushov told journalists on the sidelines of the Mallpic exhibition in Sochi.
He said the principles for foreign companies to return to the Russian market were outlined by the Russian president, "and we'll be working within the framework of this general approach." The Industry and Trade Ministry's own proposals "have also been drafted within the framework of the task outlined by the president."
The Russian authorities can see that big businesses from unfriendly countries are interested in returning to the Russian market but will be pragmatic when considering such applications by assessing benefits for Russia and whether those investors were civil in their withdrawal from Russia, President Vladimir Putin said at a meeting with Business Russia members on May 13.
"I have been contacted, including by big businesses, as they want to come back. For God's sake, please, but there is an important thing [...], first of all, we need to look at how everyone behaved," Putin said. It will not be easy to take back the vacated niches, considering that domestic analogues, which are not inferior to foreign products by quality, have emerged in many industrial sectors of the Russian market in the absence of foreign brands.
Foreign investors can really be serious competitors of Russian companies, so, Russia will consider the benefits when admitting non-residents to its market, he said. The way in which foreign investors left, including whether they supported the Ukrainian Armed Forces, will be an essential factor.
Regarding the possible terms for foreign brands to return, Chekushov said that first of all it was necessary to think about the sustainable development of domestic business.
"As representatives of the state, we cannot afford not to protect their further entrepreneurial activity. So the first and foremost postulate is that we will absolutely definitely proceed from the interests of Russian companies. Well, and as you know, that's what our so-called Western partners taught us, to proceed from our own interests," he said.
Vice President of the Union of Retail Centers Pavel Lyulin said many Russian brands now felt so confident that they are entering foreign markets.
"This, by the way, is a big advantage that we are not encapsulating ourselves but are moving to those regions where there is strong competition," he said.
