The Russian Foreign Ministry announced plans to establish car production in Latin American countries.

Russia is interested in establishing car production in Latin American countries. This was reported to Izvestia by Alexander Shchetinin, head of the Latin American Department of the Ministry of Foreign Affairs.

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"Absolutely, yes, of course. This is already a matter of specific economic contracts that are being signed," Shchetinin said.

This is how he answered Izvestia's question about Russia's interest in expanding car assembly in the countries of the region.

Nicaragua and Venezuela are seen as promising areas in this matter, Alexey Gruzdev, Deputy Minister of Industry and Trade of the Russian Federation, told Izvestia.

"Negotiations are underway with many countries in parallel. There are markets that are very far away, including Latin America. Very complicated logistics, long, expensive logistics. Therefore, our enterprises often decide that they need to go closer to the customer, closer to that market, thereby minimizing logistics costs, duties and taxes. They use preferential treatment in those countries that accept our investments and expand their export opportunities," says Gruzdev.