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Russian Market Overview – challenges and solutions

Explore the dynamic landscape of the Russian market, from political challenges to abundant opportunities. Discover key sectors, top UK exports, and how to overcome entry barriers with expert assistance. Contact us for tailored guidance and support.

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Russian Market Overview – challenges and solutions

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  1. Russian Market Overview – challenges and solutions

  2. Why Russia ? • Political tensions, sanctions, press coverage, economic uncertainty, loss of value of Rouble, unpredictability … BUT • Size • Population • Wealth • Ambition

  3. Today’s Russia

  4. Russia as an export market • Key facts - More & more accessible - Not just Moscow and St P - 15 cities with 1,000,000+ population. - Substantial “middle class”, willing to spend and hungry for quality brands • Membership of WTO • For UK companies - Fast growing export market 2010-13 - Historical ties, value of the British brand - Lots of experience and expertise available (including support from UK and Russian governmental agencies)

  5. Top 5 UK goods exported to Russia (2017) • ·         Vehicles other than railway or tramway stock (23.0%) • ·         Machinery and mechanical appliances (18.4%) • ·         Aircraft, spacecraft, and parts thereof (13.5%) • ·         Pharmaceutical products (7.8%) • ·         Electrical machinery and equipment (6.1%)

  6. Top 5 UK services exported to Russia (2016) • ·         Financial (51.7%). • ·         Other business services (14.1%) • ·         Telecommunications, computer and information services (9.6%) • ·         Travel (7.5%) • ·         Government (5.6%)

  7. Key sectors • Sports infrastructure - Sochi Winter Olympics 2014 - F1 Sochi 2014 - World Cup 2018 • Natural Resources • Transport, warehousing, logistics • Retail • Innovation, high-tech – Skolkovo, Innopolis • EXPO 2025 – Yekaterinburg is a candidate city – announcement in Oct. Dubai (2020) contracts worth $25Bn

  8. Challenges... can be overcome • Red tape • Language barrier • Business culture • Moving goods into Russia • Market entry costs • Due diligence on counterparties • Contracts and getting paid

  9. Who can help ? • Embassy / Consulates / DIT • Trade Associations, local Chambers of Commerce (RF CCI) • RBCC • Consultants and market experts • Other companies • Internet • Export credit insurance providers

  10. How to contact us alf.torrents@rbcc.com louis.green@rbcc.com alison.smythe@rbcc.com averin@rbcc.com 020 7931 6455 LONDON | MOSCOW |

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