Modernization Reform Aid Programs : A Stronger Powerful And Independent Business Sector

1459 Words6 Pages
Russia has the ninth largest economy in the world, making it potentially beneficial to the United States to trade with them, and in turn strengthening the relationship between the two countries. However, since the Soviet Union collapsed in 1991, Russia has been working hard to build up their private sectors, and though they have come a far way since then, they still have much to do. Therefore, the US should help Russia to create a more powerful and independent business sector, as well as a stronger trade association sector, which would help the Russian economy, making them better partners for American businesses. Russia’s trade associations are currently not very good, partially due to their lack of both resources and understanding in…show more content…
All of the goods that we receive from Russia are very important and beneficial to us. Some people use iron and steel in their everyday lives, so if we do not continue helping Russia, we may not continue to get these goods that contribute so strongly to our economy. The importance of these goods that we receive is another incentive to continue helping Russia and their economy expand and grow. The total imports from Russia totaled $27 billion in 2013, while the total exports to Russia totaled only $11.2 billion ("President Obama 's Signature Paves Way for Permanent Normal Trade Relations with Russia and Moldova"). Even though the US did have a $15.8 billion deficit in 2013, as the Russian economy continues to grow, more Russians will be able to buy the imported goods and more companies will use the imported goods since they use more advanced equipment and technology (Cohen, "President Obama 's Signature Paves Way for Permanent Normal Trade Relations with Russia and Moldova"). This chart shows how much the United States exports to Russia in comparison to how much the US imports from Russia as well as the trade deficit from 2000-2006 (Cohen). Even though there was such a deficit in past years, I believe that if we help Russia better their trading, then our exports would increase and our deficit would decrease in years to come. Helping Russia better their trade
Open Document