The Russian Ministry of Industry and Trade has announced their plans to double the country’s technical fibres production by 2020. To implement these plans, Russia will expand the use of its large reserves of oil and other resources, including timber and other raw materials for the production of synthetics.
Currently, the domestic production of technical fibres can meet only 30% of Russia’s annual demand, however, as part of the government plans, this might change. Russia’s Deputy Minister of Industry and Trade Viktor Yevtukhov stated that “We are planning to use the experience of some foreign countries in this field, one of which is UAE, which in recent years has mobilised its fuel and energy resources for the needs of the domestic technical textiles market.”
According to the Vice-President of the Russian Union of Chemists Sergei Golubkov, currently, chemical industry accounts for about 1.8% in the Russian GDP, which is significantly lower than the average rate of 10-14% for developed countries. Golubkov also said that reaching the EU levels would contribute to the growth of the Russian technical textiles industry. Thus, the government plans to solve the problem of a shortage of long term funds, which in recent years has become one of the most pressing problems for domestic producers.