Peter Fradkov: biography, career, family, a look at Russia's prospects in foreign markets

2024 Author: Henry Conors | [email protected]. Last modified: 2024-02-12 02:41

In the summer of 2016, newspapers were full of headlines that the son of the former head of the Foreign Intelligence Service of the Russian Federation, Petr Fradkov, had left the board of Vnesheconombank. However, he retained his position in its subsidiary, which is the Russian Export Center. The latter will exist autonomously under the leadership of Petr Fradkov. Meanwhile, his father has been appointed director of the Institute for Strategic Studies since the beginning of January 2017.

Pyotr Fradkov: biography

The future director of the Russian Export Center was born in 1978 in the capital of Russia. His father is a statesman, candidate of sciences, former head of the Foreign Intelligence Service and Prime Minister in 2004-2007. Fradkov Petr graduated from MGIMO in 2000. His speci alty is "World Economy". Then he continued his studies in parallel at Kingston University in London and the Academy of National Economy of the Russian Federation. In 2006, Petr Fradkov defended his PhD thesis. It was devoted to the strategic directions of Russia's integration into the world economy.

Career

Pyotr Fradkov started working as a first category expert in the United States immediately after graduating from the Moscow State Institute of International Relations. In 2004, he received a position at the Far Eastern Shipping Company. From 2005 to 2006, Fradkov worked as the first deputy director of Vnesheconombank. Since 2007, he became a member of the board of the latter and joined the board of JSC "Terminal", which was created to build the third terminal of the Sheremetyevo airport. Since 2011, Petr Mikhailovich has taken the position of director of the Russian Export Credit and Investment Insurance Agency. In June 2016, he left his post on the board of Vnesheconombank, remaining the CEO of the Russian Export Center. Frakow has been in this position since January 2015. He continues his scientific activity. Fradkov works as a professor at the Higher School of Economics at the Department of International Business.

Family

Pyotr Fradkov is married. In 2005, his daughter was born. His wife works as a teacher at Fradkov's alma mater. They met at MGIMO.

Support for Russian products

P. M. Fradkov in January 2017 took part in the Gaidar Forum, which was held on the basis of the Russian Academy of National Economy. He stated that the government allocated 25 billion rubles from the budget to support exporters. This amount should be sufficient to compensate for the receiptintellectual patents and certificates, return transportation and logistics costs. Another part of the funds will go to the capitalization of Roseximbank and the promotion of Russian goods abroad. The government has also focused on the development of trade through electronic platforms. The main emphasis, as Fradkov said, in 2017 will be on traditional partners: the CIS countries, Asia and Latin America. However, much attention is paid to the search for new markets.

Successes in 2016

Fradkov commented on the lower foreign trade figures in 2016 than predicted. In his opinion, this is due to market problems and the devaluation of the ruble. If we consider exports in physical terms, then it has grown. In addition, its structure has changed for the better. The share of non-commodity exports in 2016 accounted for only 55% of the total. Since the end of 2016, value indicators have also begun to grow.

Prospects

The head of the Russian Export Center believes that 2017 will be a period of growth for Russia. Moreover, not only the physical volumes of exports will increase, as happened in 2016, but also their cost indicators. The project of international cooperation, which involves the use of special measures to support mechanical engineering, will also help in this. Fradkov believes that in 2017 it is possible to ensure an increase in non-resource exports by 7%. The global goal is to achieve twice as much by 2025. Government plans for the development of agriculturealso ambitious. It is important not only to increase the export itself, but also to strengthen the position of companies working with foreign consumers. This should be done not only by large business entities, but also by medium ones. The goal is to increase the number of exporting companies by 10% per year. However, all bright prospects are associated with overcoming significant difficulties. One of them may be the strengthening of the ruble. Exporters benefit from a weak currency, it allows them to be competitive, so in this case, Russian producers may lose their positions abroad. Fradkov believes that administrative issues, currency and tax controls hinder deeper cooperation with many countries. By solving them, Russia, according to Fradkov, will be able not only to achieve the predicted indicators, but also to significantly exceed them.