January 23, 2008

IN THIS ISSUE

Opening the Russian Market for Local Companies

The Russian economy is in a period of rapid expansion. Its GDP expanded 7.9% in the first half of 2007, according to the World Bank. This growth is largely a function of pent up demand, with consumption increasing 9.8%. Imports are helping meeting this demand and with the ruble having appreciated 8% against the dollar in the last year, this market of 143 million consumers presents tremendous opportunities for US exporters. Pennsylvania manufacturers accounted for just 1.5% of the $5.2 billion of US exports to Russia in the first nine months of 2007, while New Jersey’s share amounted to 2.9%.

“This market has high potential for our companies,” said Joanna Savvides, president of the World Trade Center of Greater Philadelphia (WTCGP), “and we are poised to assist them in discovering new opportunities, building new partnerships and finding new customers in this major Eastern European country.” As part of these efforts, the WTCGP in cooperation with the Mid-Atlantic - Russia Business Council organizes a key seminar “Expanding into Russia and the CIS “ on January 25 from 8:00 a.m. to 11:30 p.m. at DLA Piper in Center City Philadelphia.

Among the experts who will share their knowledge of and experience in the market are:

  • Minister-Counselor Andrey P. Dolgorukov, Trade Representative of the Russian Federation in the USA (Washington, DC);
  • Philip de Leon, director, Business Information Service for the Newly Independent States (BISNIS)/U.S. Foreign & Commercial Service, U.S. Department of Commerce (Washington, DC);
  • Frank Williams, president of Frank Williams & Partners Architects, LLP (New York, NY);
  • Vincent Magnotta, manager, technology transfer, Air Products and Chemicals (Allentown, PA);
  • Roger Munnings, president & CEO, KPMG LLP (Moscow, Russia);
  • Jayne Risk, partner, DLA Piper (Philadelphia, PA)
  • Robert Williams, tender and business development manager, DHL Russia (Moscow, Russia).

Companies located in Pennsylvania will also learn about assistance available to them through the Pennsylvania’s Department of Community & Economic Development and upcoming trade mission to Moscow and St. Petersburg, Russia from June 22-26, 2008. This mission is organized by the World Trade Center of Greater Philadelphia as part of its “Trade with Emerging Eastern European Markets”, the Pennsylvania’s Department of Community & Economic Development, the U.S. Commercial Service offices in Philadelphia, Moscow and St. Petersburg, and the Mid-Atlantic – Russia Business Council.

For more information about the trade mission please contact Diana Melnichenko, WTCGP, at 215-586-424- x118 or dmelnichenko@wtcphila.org.

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The WTCGP and the MARBC would like to thank this event's sponsors:

  • DHL International
  • DLA Piper
  • KPMG LLP
  • PA Department of Community and Economic Development

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