Russia Removes Extra Checks On Lithuanian Trade
News: Russian border officials have withdrawn additional checks on trucks entering the country from Lithuania. Additional protocol was introduced on September 11 2013, but Russia ' s customs authorities have reported that the number of violations relating to imports from Lithuania had declined, the Journal of Commerce reports. Tension between the countries has increased as the EU moves ahead with plans to increase trade with former-Soviet nations.
BMI View: Following a year which BMI believes saw mixed growth dynamics across different freight modes, 2013 will see a further slowdown in growth in most of them, in line with Russia's economic growth forecast. Total trade is projected to pick up, with our Country Risk desk forecasting a year-on-year increase of 3.5% in 2013, following growth of 5.42% in 2012.