The Republic of Mordovia's exports tripled during the preparation stage for the 2018 FIFA World Cup, First Deputy Prime Minister of the Mordovia government, Minister of the Economy, Trade and Entrepreneurship Vladimir Mazov said speaking at the Saransk City Press Centre.
The past four years have seen Mordovia's trade reach $1.2 billion, with exports surpassing imports, he said. The Republic has trade relations with 80 countries, and 15 deals were signed with China, Cuba, Iran, Africa, and several European countries as the region got ready for the World Cup.
"As we met with our potential and existing partners ahead of the World Cup, what they stressed first of all is the fact that Saransk, Mordovia's capital, hosting the tournament is a sign that it is a reliable partner," Mazov said.
He added that Mordovia was cooperating with other countries in the manufacturing of railroad cars, semiconductors, lightning, and pharmaceutics.
Officials from Japan, Iran, Panama and Tunisia visited Saransk, where they discussed holding business expos and strengthening economic ties, Mazov said. The Republic has reached an agreement with a Japanese firm to cooperate in optical fibre production.
Mazov added that Mordovia officials are planning to spend the next 12 months on business visits to all the World Cup-participating countries that have played in Saransk.