In 2017, the trade turnover between Russia and the U.S. may substantially increase, said Russia’s Trade Representative Alexander Stadnik on June 11, 2017 at a conference of the Coordinating Council of Russian Compatriots at the Russian Cultural Center in Washington, D.C.

Mr. Stadnik reported that following the results of the first quarter of 2017, the growth rate for the trade turnover between Russia and the U.S. was already at 30 percent in relation to the corresponding period of the previous year. In the view of Russia’s trade envoy, the good first quarter results give ground to believe there will be an increase in business activity throughout the year. The trade representative also added that the relations of the two countries are gradually coming to pre-crisis level.

Trade Representative Stadnik has also recalled that 516 foreign companies participated in the St. Petersburg International Economic Forum that took place in early June, with some 144 companies from the United States.

“This shows that the U.S. businesses are interested in Russia and that Russia takes a worthy place in their business plans. All this also shows that we are gradually returning to pre-crisis levels, and there are reasons to believe that the results for the year will be much better,” Mr. Stadnik concluded. In Mr. Stadnik’s assessment, Russia’s imports to the United States are also getting back to their ordinary volumes.