OREANDA-NEWS. The import substitution centre will spearhead a strategy to rapidly increase domestic output and reduce dependence on imports.

The idea was unveiled at an ITAR-TASS press conference by Sergey Voronkov, General Director of ExpoForum International, who explained that the centre would bring together government, business, scientific and industrial enterprises for a series of conferences and exhibitions demonstrating industrial output and technology. “The St Petersburg Administration and the Ministry of Industry and Trade both support the initiative to set up this centre and the project will, in all probability, become the calling card for industry in the city and the focal point for all import substitution plans and campaigns”, he added.

Maxim Meiksin, Chair of the St Petersburg Committee for Industrial Policy and Innovation, agreed, emphasising that establishing an import substitution centre is an essential element in developing innovation within the city's industrial sector, providing a platform on which to demonstrate domestic output and promote it on both the internal and external markets. He also added that by 2016, the share of innovative production in the city's output should increase to 20%. At present, it accounts for 12-18%.

A presentation of the centre, involving leading specialists, economists and heads of industry, will take place at the 18th Russian Industrialist International Forum.