OREANDA-NEWS. Ministry of Industry and Trade of the Russian Federation proposes to introduce a range of restrictions for foreign goods as part of the import substitution. According to the agency, it is necessary to introduce the priority of domestic products in public procurement at almost all industries.

According to the newspaper "Izvestia", it is considered the introduction of customs duties on the import of foreign components in the automotive industry, analogues of which are produced in Russia (10-20%). Currently, manufacturers that are using industrial assembly, import components at the rate of 0-5%, and for auto parts the tariff rate is reaching 40%. The Ministry of Industry emphasized that the decision to introduce such measures to support domestic companies and restrict imports will be accepted by the government.

"Import substitution involves the creation of new industries and technologies; they are created at the expense of equity and debt investors, the volume of which is presumed at the level of 1.26 trillion rubles. As for state participation, we estimate it at 235 billion Rubles – totally it is 1.5 trillion rubles”, - said Deputy Minister of Industry and Trade, Gleb Nikitin.

As the Ministry of Industry and Trade calculated, by 2020 in Russia it will be created the production of not less than eight hundred goods and products that will help to reduce the impact of Western sanctions on the Russian economy.