Companies seek business opportunities in Russia

Eleven local companies will be arriving in Moscow on Sunday for the start of a week-long business mission to explore new business opportunities in Russia. The Invest Northern Ireland organised mission, from 27 June to 2 July, will also include a visit to St Petersburg.

The delegation includes seven companies visiting this market for the first time. The newcomers on the mission, the second to Russia in the past year, are: Cunningham Covers, Maghera; Galen, Craigavon; McCloskey, Dungannon; Raptic, Dungannon; RockRoland, Dungannon; TrioFormwork, Dungannon; and Yardmaster, Draperstown. Raptic and RockRoland are also taking part in their first Invest NI trade mission.

Other participants with business in Russia are AJ Power, Craigavon; Bridgedale Outdoor, Newtownards; CDE Global, Cookstown; and Ulster Carpets, Craigavon.

Dr Vicky Kell, Invest NI Trade Director, commenting on the latest mission to Russia, said: “Our previous mission to the key business centres of Moscow and St Petersburg generated significant business for participating companies across a range of sectors including construction and screening machinery. This led to a demand from other companies, including first time participants, to explore this immensely important market.

“It’s a huge marketplace of 142 million people that is widely regarded as among the most dynamic economies, one that’s bracketed with Brazil, India and China as offering very substantial business opportunities especially in terms of investment in infrastructure. In addition, the Russian economy continues to benefit substantially from its position among the world’s most important oil and gas producers.

“Russia, which is the UK’s 12th largest export market, requires a long term investment of time and other resources by companies seeking to do business there. They can benefit from the popularity of Western goods and expertise.

“Our research shows that the most promising opportunities for local companies are in the advanced engineering, financial services, ICT, power and energy, sports and leisure infrastructure, airports, construction, creative industries, rail and water. The Winter Olympics in 2012 are also being held in Russia and will provide business opportunities for our companies.