On October 26, the Economic Development Ministry maintained its inflation outlook for 2022 at 12.4% considering the recent trends.

Russia is open for cooperation, Russian President said.

"The negotiations on the creation of free trade zones with Egypt, Indonesia, India are underway," Maksim Reshetnikov said.

It is noted that the revised list of tax free areas is expected to consist of border areas with China.

Ruslan Davydov also recalled that in the spring of this year, the threshold for the duty-free import of Internet parcels into the Eurasian Economic Union was raised to 1,000 euros.

It is reported that exports of Russian goods stood at $343.8 bln in January-September 2021, whereas imports equaled $213.5 bln.

According to released data, China’s export to Russia gained 10.3% within nine months of this year to $52.24 bln.

It is noted that consumer prices rose by 10.4% from the year beginning.

The PMI value above 50 points is indicative of the business activity growth and the value below that level flags its slowdown.

More than 14,000 people from 130 countries participated in SPIEF-2022 events, with 81 countries having sent their official representatives.