Reshetnikov pointed to the threat of global protectionism due to import duties

The increase in import duties, the spread of the "subsidy race" and "green protectionism" may provoke new protectionist measures in the world. Maxim Reshetnikov, head of the Russian Ministry of Economic Development, told reporters on Monday, April 7, at the annual AIM Congress investment conference in Abu Dhabi.

"The increase in import duties, the spread of "green protectionism" and the "subsidy race" may provoke new protectionist measures in the world. We must collectively protect the system of international trade rules under the auspices of the World Trade Organization," he stressed.

The head of the department also pointed to the crisis of the multilateral trading system and attempts to create regulation of this industry, contrary to WTO rules.

Industrial evolution: economic growth rates in the Russian Federation exceeded global rates

Putin and Mishustin discussed increasing real incomes of Russians and reducing inflation

Earlier in the day, Reshetnikov pointed out that the Russian economy is showing good growth rates and is attractive for foreign investment. Over the past two years, the growth has been 4.1%, he said.

Prior to that, on April 3, Kirill Dmitriev, the head of the Russian Direct Investment Fund, said that the Russian economy was developing and growing despite the sanctions imposed on the country. He stressed that last year Russia's gross domestic product (GDP) grew by 4% against 1% in the European Union (EU) countries. Dmitriev added that the ratio of Russia's public debt to GDP is 18%, while in EU countries this figure reaches 100%.