A socially oriented non-financial development institution and a major organizer of nationwide and international conventions; exhibitions; and business, public, youth, sporting, and cultural events.

The Roscongress Foundation is a socially oriented non-financial development institution and a major organizer of nationwide and international conventions; exhibitions; and business, public, youth, sporting, and cultural events. It was established in pursuance of a decision by the President of the Russian Federation.

The Foundation was established in 2007 with the aim of facilitating the development of Russia’s economic potential, promoting its national interests, and strengthening the country’s image. One of the roles of the Foundation is to comprehensively evaluate, analyse, and cover issues on the Russian and global economic agendas. It also offers administrative services, provides promotional support for business projects and attracting investment, helps foster social entrepreneurship and charitable initiatives.

Each year, the Foundation’s events draw participants from 208 countries and territories, with more than 15,000 media representatives working on-site at Roscongress’ various venues. The Foundation benefits from analytical and professional expertise provided by 5,000 people working in Russia and abroad.

The Foundation works alongside various UN departments and other international organizations, and is building multi-format cooperation with 180 economic partners, including industrialists’ and entrepreneurs’ unions, financial, trade, and business associations from 81 countries worldwide, and 186 Russian public organizations, federal and legislative agencies, and federal subjects.

The Roscongress Foundation has Telegram channels in Russian t.me/Roscongress, English – t.me/RoscongressDirect, Spanish – t.me/RoscongressEsp and Arabic t.me/RosCongressArabic. Official website and Information and Analytical System of the Roscongress Foundation:roscongress.org.

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Research
02.07.2020

Trade in services in the context of COVID-19

The World Trade Organization’s study offers information about the early consequences of the pandemic, as it affects trade in services across various sectors, as well as shipment methods. The authors state that services account for over two-thirds of economic output and attract over two-thirds of foreign direct investment, providing the majority of jobs globally and representing over 40% of all global trade. Logistics and the tourism and travel sector have been the hardest hit as a result of the COVID-19 pandemic and the resulting crisis. Restrictions on movement and enforced social distancing have had the greatest impact on suppliers and consumers. Interruptions to the supply of services are having a wide-ranging impact on the economy and trade, given the sector’s important role in other areas of economic activity. Reduced trade in goods contributes to reduced trade in services, resulting in an economic slowdown. Labour productivity and trade performance, including in the services sector, will be key to economic recovery at all levels. This underlines the importance of injecting new momentum into developing trade in services, and especially infrastructure services such as finance, telecommunications, supply chains, transportation and logistics.

Analytics on the topic