Despite doubts expressed by traders and economists, that optimism has turned out to be justified on at least one economic front - agriculture and related sectors.

Last year, Russia managed to gain the world’s lead as an exporter of grain, after shipping 34 million tons out of its record crop of 119 million tons.

Apart from grain, Russian farmers have completely substituted imports of chicken and pork with domestic production. The country became a top producer of sugar beet with greenhouse vegetable output increasing 30 percent over the previous year.

Agricultural goods have become Russia’s second biggest export after oil and gas.

Besides increased government subsidies to farmers, the sector has also benefited from Russia’s geographical position with highly fertile “black earth” regions in central and southern Russia located close to export terminals on the Black Sea. The trade routes allow the country to supply significant North African and Middle Eastern wheat importers such as Turkey and Egypt.

Russian agriculture and associated industries have huge potential for further growth as increased earnings allow farmers to invest in technology and more fertilizers to boost productivity.

“Russia’s agriculture boom shows that, despite sanctions and the poor state of east-west relations, there are pockets of value and opportunity to be found in the Russian market,” reports the Financial Times.

Saudi Aramco, a key exporter to China along with Russia's Rosneft, is due to list next year, with a potential $100 billion equity sale that is expected to be the world's largest to date.

The planned Chinese investment makes it more likely that the national energy giant would seek a listing in Asia, with Hong Kong currently the frontrunner among bourses in the region, the same people said.

Reuters reported earlier this month that Saudi Aramco's board would meet in Shanghai in May, its first meeting in China in seven years, as Chinese and Asian investors eye the share offering from the world's biggest oil exporter.

Saudi officials have said Chinese companies were interested in investing in the Aramco IPO as the country - the second biggest consumer of oil globally - seeks to secure crude supplies, but have not commented on how that would be done.

Half a dozen sources with knowledge of the discussions said China Investment Corporation (CIC), the country's sovereign wealth fund, oil majors Sinopec and PetroChina, and the country's State-run banks were among the State-backed entities set to participate in the Chinese investment consortium.

They did not name the banks. Reuters reported in February that Industrial and Commercial Bank of China International Holdings, a unit of Industrial and Commercial Bank of China, and China International Capital Corporation (CICC) were among the Chinese banks pitching for a role in the IPO.

One person involved in discussions between Aramco and potential Chinese investors said the ultimate size of the consortium's stake had not yet been decided. That source said the entity that would lead the consortium had also not been decided. That is likely to be decided by China's cabinet, the State Council, over the coming months.

"The IPO will help decide whom, or which country, can secure the crude supplies from the company and Saudi Arabia going forward," the person said, adding the size of each company's stake in the Chinese consortium would depend on its current relationship with Aramco and the Saudi government.

"For instance, if you were already a strategic investor or plan to become one in the long-term, things would become easier."

The State Council Information Office, CIC, Sinopec and PetroChina did not respond to requests for comment.

Last month, PetroChina's president and vice chairman, Wang Dongjin, said the company would consider participating in the IPO depending on market conditions, while Sinopec has said the oil giant would discuss the IPO with Aramco.

Saudi Aramco said in an email it did not comment on "rumor or speculation".

Copper concentrate export reached 366 thousand tons in Q1`17 which decreased by 11 percent compared to the same period of the previous year. Export revenue totaled US$ 380 million which decreased by 21 percent compared to Q1`16. Copper export accounted for 29.2 percent of total exports of the country while it was accounting 50 percent of total exports last year. ​
Coal export increased by 4.8 million tons compared to the same period of the previous year and totaled 8.1 million tons in Q1`17. Export revenue reached US$ 541.3 million which increased by 5 times compared to Q1`16. This year, coal export accounts 41.6 percent of total export, the highest in the last 4 years. Coal export revenue is higher than copper export revenue in Q1`17 and it is the first time since commissioning of Oyu Tolgoi mine. The increase in coal export is linked directly to rising coal prices. In March 2017, Mongolia exported a total of 3.3 million tons of coal and earned US$ 214 million. 
Iron ore export was 1.1 million tons in Q1`17 which increased by 11 percent compared to the same of the previous year. Export revenue increased by US$ 40 million and totaled US$ 70.1 million. 
Gold export decreased by 1.8 tons and totaled 1.1 tons in Q1`17. Export revenue was US$ 111 million in Q1`16 and it has decreased by 60 percent this year, totaling US$ 43.7 million. 
Oil export decreased by 17 percent and totaled 1.8 million barrels. Export revenue reached US$ 93.1 million in Q1`17, which increased by 20 million US dollars compared to the same period of the previous years. Oil accounted 7 percent of the total export of the country this year. 
Export of above 5 products totaled 1.1 billion US dollars in Q1`17, accounting 86.8 percent of the total export of the country.

The Cabinet ordered the budget governors to reflect on the detected violations and errors, avoid repetition and obtain satisfactory or above satisfactory rating for their activities in 2016; and publicize tender process online this year.

Moreover, the Cabinet also tasked the general budget governors to announce all tender offers before May 1, finalize the selection, establish an agreement with the chosen bidder and begin work within June 15, and not enter an agreement after the date.
Kh.Aminaa