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EVENT: The Russian Business Forum
The IRBA in collaboration with Enterprise Ireland will be holding the Russian Business Forum event where leading Russian and Irish companies will share practical knowledge of doing business in Russia and the panel of experts will be open for answering your questions.
DATE: Friday, 7th June 2013
TIME: 8 a.m. – 1 p.m.
VENUE: The Plaza, Enterprise Ireland, East Point Business Park, Dublin 3, map.
AGENDA:
- Registration & Networking.
- Keynote addresses by Minister for Small Business John Perry TD.
- Policy Document Draft Presentation, Discussion & Feedback Session: “Enhancing Bilateral Trade and Investments with Russia: Policy and Environment”.
- Sector Speaker Presentations and Q&A: “Russia – Opportunities & Challenges”.
- Financial.
- ICT & High Technology.
- Education.
- Construction.
- Panel Discussion and Q&A.
- Logistics and Shipping – Customs and Duties.
- Legal.
- Tax.
- Business Facilitation & Marketing.
- Translations & Cross-cultural Negotiations.
- Visas.
- Closing Comments.
RSVP: The event is free. Click on following link to register before COB on Tuesday, 4th June 2013: www.eventsforce.net/enterpriseireland/791/register
For enquires, please contact Kate Kostyunina via email at kate.kostyunina@enterprise-ireland.com or by phone on 01 7272015 or Jen Condon via email at jc@irba.ie or by phone on 01 6424178.
EVENT: Ireland Russia Business Breakfast Hears Of Challenge To Irish Government
By Limelight Communications
Economist Constantin Gurdgiev criticises current Government thinking; event hears of 19% increase in Irish exports to Russia
A business event co-hosted by Dublin City Council and the Ireland Russia Business Association (IRBA) on Monday, 11th March 2013 heard Enterprise Ireland announce a 19% increase in Irish exports in goods to Russia from 2011 to 2012. The event heard that the months through November 2012, the export figure from Ireland to Russia was €603million, excluding services. Peter Finnegan, Director of Economy and International Relations with Dublin City Council commented that a key element of Ireland’s recovery rested with business development into the emerging Russian Market. Business expansion into and inward investment from Russia had the potential to create significant jobs. Dublin’s Russian Festival focused on the potential for increasing business with, and attracting investment from, Russia.
Chairman of the IRBA, respected economist and commentator Constantin Gurdgiev provided participants with an insight into the trade dynamics between Ireland and Russia. He challenged current Irish policy and thinking. He emphasised the urgent need to establish Ireland’s reputation as a platform for entry by companies from BRIC economies and other emerging and middle income markets into North American and European Markets. He observed that in his view, too many Russians still think of Ireland as part of England and hold other stereotypes. He also encouraged Irish business to see Russia as a platform for entry into the Central Asia Marketplace and also into the countries of the CIS (Commonwealth of Independent States).
Some data and ideas on Russian economy
By Constantin Gurdgiev. First published on trueeconomics.blogspot.com.
Russian economy quick summary of some latest stats and some disconnected ideas:
- Q3 2012 real GDP +2.9% y/y down from +4% in Q2 and +4.9% in Q1 2012.
- Expected Q4 2012 GDP growth +2.5%
- November 2012 GDP growth of +1.9% y/y inflation-adjusted
- Q1-Q3 2012 GDP +3.5% y/y
- Q3 2012 consumption +5.1% y/y down from +6.9% in Q2
- Expected full year consumption growth +4% y/y.
- Consumer confidence down to lowest in 18 months (since Q2 2011) in Q4 2012 at -8, Q3 2012 reading was -6.
- Industrial production is up +1.9% y/y in November, manufacturing activity +4%, manufacturing PMI at lowest level in 14 months in December at 50.0
- Services PMI down to 56.1, from 57.1 in November
- Composite PMI at 54.1 – a 4 months low.
Ireland-Russia Bilateral Trade: Jan-Oct 2012 data
By Constantin Gurdgiev. First published on trueeconomics.blogspot.com.
Some good data on Irish bilateral trade in goods with Russia. A graph and a table to summarise:
Improved Visa System and Direct Flights Would Open up More Business
Improved visa system and direct flights to Moscow would open up more business opportunities, stated Mr Maxim Peshkov – the Ambassador of the Russian Federation in Ireland, at the IEA’s Ireland Russia Business Association (IRBA) lunch on 29th August 2012.
At the Ireland Russia Business Association lunch the Ambassador from the Embassy of the Russian Federation in Ireland stated:
- There were many opportunities for the expansion of bi-lateral trade between Ireland and Russia and that the establishment of the Joint Economic Commission in November last year was a very positive step along the way.
- The Irish government was in a strong position to promote further trade with Russia through the World Customs Organisation, where Josephine Feehily – The Revenue Commissioners Chairman – was also the Chairman of the WCO.
- Equally there was a strong opportunity for the Irish Government to build further trade expansion with Russia during the Irish Presidency of the EU next year.
Latest Euromoney Country Risk Survey results
Dr. Constantin Gurdgiev
Russian Banks Credit Supply to SME
Dr. Constantin Grudgiev
Moody’s latest note on Russian banks, titled SME Lending in Russia: Growth Supports Profitability, but Cyclical Credit Risks Remain is available in Russian.
The note argues that since 2010-2011, Russian banks’ origination of credit to SMEs has grown on the back of banks’ strategic expansion within the SME sector that sees growth in lending to SMEs exceeding that for larger corporates. Read more…
Russian Economy – Inflation & Monetary Policy
Dr. Constantin Gurdgiev
Russia’s central bank (CBR) refinance rate was affirmed at 8.00% last week, with the overnight deposit rate at 4%, the minimum auction repo rate at 5.25% and the fixed repo rate at 6.25%. Per Danske Markets, “the CBR stated that it views rates as being acceptable for the coming months as inflation pressures arise in H2 12.”
Moody’s Confirms Russia’s Rating and Notes Economic and Institutional Constraints
By Dr. Constantin Gurdgiev.
In its annual credit report on Russia, issued on February 29, Moody’s Investors Service confirmed Baa1 rating and stable outlook for Russian Government bonds, pointing that investment grade ratings for the country are supported by “high financial strength, but constrained …by the country’s moderate economic strength, its low institutional strength and its rising, albeit still low, susceptibility to event risk”. Read more…
Ireland-Russia bilateral trade, September 2011
Dr. Gurdgiev: Irish exports to Russia totalled €46.9 million in September, up 61.2% yoy, against Irish imports from Russia of €7.8 million, up 14.7% yoy.
Read full post at trueeconomics.blogspot.com.
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