Russia Invites Global Garment Brand Manufacturers To Set Up Factories In Russia

According to a Russian media perspective, Russia Beyond the Headlines reported on Thursday that Viktor Yevtukhov, Vice Minister of Russian industry and trade (Industry and Trade), said in an interview that the Russian government has invited some foreign clothing brands to be there.

To achieve brand localization.

In the interview, Yevtukhov explained that for this national support project, the Russian government now envisages subsidization of some of the cost, upgrading of technology and new investment plans for the recovery of raw materials.

The new factory can enjoy long-term tax benefits, which can last up to 2025.

The vice minister also promised that the manufacturer who accepted the invitation could also get the market share of the government purchase order.

He said Russia had a good textile industry in the Soviet Union, and Russia could occupy the market sandwiched between European manufacturing and Asian manufacturing, because European products were expensive and made in Asia.

Inviting foreign companies to set up factories in Russia is also hoping to get this.

We are confident that we can achieve this goal because our textile industry has a good foundation.

He also mentioned in particular the talks with China National Textile and Apparel Council and several major textile companies at the exhibition in Milan.

Chinese manufacturers say they not only regard Russia as a market for their product distribution, but also invest in Russia.

The biggest fashion event in Southeast Asia -

On the Mercedes Benz China International Fashion Week, Russian Chamber of Fashion signed a strategic cooperation agreement with the China Fashion Designers Association (China Fashion Association) for a period of three years.

Despite the decline in Russian economic growth, its consumer goods manufacturing industry has been growing.

According to statistics from Russia's Ministry of industry, its industrial output increased by nearly 5 percentage points in 2013.

Garment production increased by 7% in the first three quarters of 2014, while the overall Russian economy increased by 0.7% over the same period last year.

Yevtukhov also said that with Russia's accession to the WTO and subsequent tariff cancellation, leather and leather products decreased by 10.5% and 20% respectively.

To solve this problem, the Russian government began to ban the export of semi finished leather in August 2014.

In addition, the Ministry of industry and trade will implement similar injunctions to prohibit the export of raw leather.

He said Russia is not the only country to implement such a ban, but Belarus has already begun to implement it.

Russian manufacturers have great demand for raw leather, so they strongly approve of the government's practice.

Finally, he also mentioned the problem of synthetic fiber. At present, most of Russia's synthetic fibers are imported, so the Russian government is considering increasing domestic production.