Birmingham Hosts Top Russian Business Event

Companies in the West Midlands were able to find out about opportunities in Russia at a business conference held at leading law firm Wragge a Co, in Birmingham in November. The event Russia: Practical Solutions, supported by UKTI, included presentations from a UKTI commercial officer from the British Embassy in Moscow, the Russian government on business potential in the Russian regions, and companies that are already exporting to Russia. Topics included the legal aspects of doing business in Russia and the potential opportunities arising from the Sochi Winter Olympics 2014.

Linda Smith, International Trade Manager at Herefordshire and Worcestershire Chamber of Commerce and UKTI’s specialist adviser on Russia for the West Midlands, said: "With sterling so weak and the Russian economy so strong by comparison, there has never been a better time to start exporting to Russia. Small
manufacturing companies in particular will benefit from taking a closer look. Russia has recovered quickly from the world recession, mainly thanks to its huge financial and strategic reserves. Russian companies have a good history of paying on time, and payment can sometimes be made in advance. Margins tend to be higher
than in Western Europe or North America because competition is not so fierce. This event is the perfect opportunity for West Midlands companies to gain practical, hands-on advice on reaching the Russian market - and we at UKTI are here to help them every step of the way."

The conference was organised by trading consultancy Albion (Overseas) Ltd, which has a successful track record of doing business with Russia as a distributor.