Development of Russian export of business services: great potential and ways to fulfill it

Antonina Levashenko and Olga Magomedova

International Trade and Trade Policy, 2023, vol. 8, issue 4

Abstract: The development of national exports of business services is indicative of the competitiveness of domestic business services. Today, the global business services market is undergoing a transformation against the background of trends such as the intellectualization of business services and the digitalization of service delivery methods. These trends may allow us to reveal the previously unrealized (until 2022) potential of the Russian export of business services. Despite the sufficient demand for Russian services in segments with such a high knowledge component as engineering, design and architectural services, Russia was mainly an importer of business services. Today, Russian business service providers face the need to reorient exports to new markets, which is associated not only with the usual difficulties of redirecting business, but also with the specifics of the business services themselves. Thus, in the segments of intellectually capacious services, Russian exporters are faced with the need to ensure compliance with the qualification requirements for obtaining admission to participate in the market. In addition, in the new prospective markets, business services are developed in varying degrees, often at a lower level than in the countries of the traditional direction of Russian exports of business services, which is due to the cultural peculiarities of doing business. To provide state support for the export of business services in developing countries, it is necessary to take into account their features that determine the possibilities of marketing promotion of Russian exporters, namely: the importance of the professional reputation of the performer, business networking, private business initiatives. The main task of Russian exporters of business services in new markets is to gain consumer confidence.

Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:acl:journl:y:2023:id:564

DOI: 10.21686/2410-7395-2022-3-96-114

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