OFFSET TRANSACTIONS AS AN INSTRUMENT OF INTERNATIONAL TRADE POLICY

Abstract

Offset obligations of the exporter are a foreign trade restriction in fact for him. Nevertheless, in view of the specifics of markets where offset agreements are applied, and because offset obligations may include extensive foreign economic responsibilities than regular trade, offset deals can be seen as an instrument of international trade policy which has a positive effect for both importers and exporters. The subjects of research in this article are the possibilities and limitations of the application of offset agreements as an instrument of international trade policy. The purpose of this article is to investigate the economic nature of offset agreements and to determine the potential of offset agreements for Russia in terms of the effectiveness of this international trade mechanism in the direction of increasing the competitiveness of the Russian economy in world markets. The main methodological study in this article is the scientific work of Russian and foreign scientists, Russian and international legal acts related to the possibilities of applying offset agreements, as well as studies of specialized international organizations. In modern conditions, international trade is acquiring new, deeper forms, since in some areas, especially those accompanied by accelerated innovative development, buyers are striving to take part in the production and development of new high-tech products themselves, thus gaining access to new technologies and foreign investments.