Why Russia?

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10 Reasons to do business in Russia

  • Largest country in the world with over 17 million sq km.
  • Massive population of just under 143 million
  • Moscow is just 3 and a half hours flight from London
  • Russia joined the World Trade Organization in 2012, which is slowly reducing trade barriers and simplifying trade.
  • Russia has established several “special economic zones” to encourage investment from foreign companies.
  • The Russians love to do business with the UK
  • Russia, as the largest producer of natural gas, 2nd largest supplier of crude oil and coal, has disposable income.
  • Russia’s economy is set to be the world’s 4th largest by 2020 according to the World Bank
  • 51% of FDI in Russia has gone into manufacturing, with over 400 FDI projects - the fourth largest in Europe — while 9% was directed to the business services sector. (Ernst & Young’s 2012 attractiveness survey).
  • Russia has massive infrastructural needs in numerous sectors, making it a very attractive export market.

UK export opportunities

In 2014, Russia imported 
$308 billion worth of goods. That total is up by 86% since 2009.

  • A major opportunity for exporters is the 2018 World Cup. Over £7bn will be invested in improving airports, hotels and roads, medical, communications, security services and other infrastructure in the thirteen host cities.
  • Russia has competitive and skilled labour, and the availability of technically capable people is a positive factor for doing business in Russia.
  • Russia is investing £4.5bn in nanotechnology.
  • Russian manufacturers in many industries seek partnerships with foreign firms to improve local quality.
  • Russia is investing in the aviation industry, which requires foreign input in the form of expertise, products and software.
  • Our manufacturers and exporters continue to do well in overseas markets. The UK is second only to the USA in the export of services.
  • In 2013 Russia imported US$ 317.8 billion worth of goods. That total is up by 86% since 2009.
  • The value of exports from the UK to Russia grew 15% in 2012 to £5.5 bn. This made Russia the UK’s 12th largest export market for goods in 2012, and the largest outside the US, China and the EU.
  • Over half Russia’s imports are engineering machines and equipment.
  • Whisky (up 65% last year) is quickly catching up to Vodka as the spirit of choice in Russia; this represents a clear opportunity for UK companies.

 

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