Russia's space agency, Roscosmos, will allow private companies access to the market of space services by 2020, Russian Deputy Prime Minister Dmitry Rogozin said Tuesday.

"By 2020, we plan to form an effective system of support for Russian corporations on the market of space services and allow private companies onto the market," Rogozin, who oversees the country's space industry, said during an innovation technology forum in Moscow.

He added that "the effective development and commercialization of space production and services" should not be forgotten.

According to him, in the near future, Russian President Vladimir Putin will get a report by Roscosmos on the draft Federal Space Program, in which all of the major priorities in this area will be described in detail.

Unlike in the United States, where private companies such as Space Exploration Technologies Corporation (SpaceX), actively develop the market of space services, this sector in Russia is represented exclusively by state-owned enterprises and organizations.

According to the Russian space agency Roscosmos, the Federal Space Program will have a budget of roughly $37 billion to last through 2025.

Source: Sputnik News