Home > Uncategorized > IRBA Event: Breakfast Breifing “Agri-food Exports to Russia” – 20 Nov

IRBA Event: Breakfast Breifing “Agri-food Exports to Russia” – 20 Nov

November 12, 2012

VENUE: Mason Hayes & Curran, South Bank House, Barrow Street, Dublin 4

DATE: Tuesday, 20th November 2012, 8am to 11am (registration from 7.30am)

SPEAKERS: Representatives from the Irish Exporters Association, Ireland Russia Business Association, Mason Hayes & Curran, Lakeland Dairies and The Irish Cattle and Sheep Farmers’ Association will present on the day with additional speakers to be confirmed

Ireland-Russia Agri Overview by IRBA Chairman Dr. Constantin Gurdgiev:

The Russian economy’s continued growth since the 2008-2009 crisis has been underpinned by rapid expansion in consumer spending and a fragile, but growing long-term capital investment programme aimed at modernising and diversifying economic acidity. Coupled with a prolonged recession and stagnation in the Euro area, these developments have made the Russian market an increasingly important and attractive trade and investment partner for Ireland. Russian goods imports from Ireland have increased from €245 million in 2009 to €620 million in 2011 and are set to rise by 6-8% in 2012. With Russia’s GDP growth expected to average roughly 3.8-4.0% up to 2017, primarily fuelled by a strong recovery in consumer consumption and declining inflation, Russian markets offer tremendous potential for Irish exports. We expect 2013-2017 goods exports to Russia from Ireland to rise to well over €1 billion annually with overall, longer-term potential for trade volumes close to €3-€4 billion annually.

Despite the fact that Russia’s agricultural sector contributes just over 7% of Russia’s overall GDP and employs about 10% of the work force, Russia maintains a large trade deficit in agri-food products. In addition, as a part of the country’s WTO accession earlier this year, the Russian markets for agri-food products are set to experience significant liberalisation, including reductions in tariffs and non-tariff barriers to trade. Currently, the Russian food processing sector is unable to source its input needs domestically (especially quality meat and dairy inputs), while consumer demand is increasing, fuelled by rising incomes.

Long-term government commitment to the modernisation of the agricultural and food sectors in Russia is likely to result in the 2013-2017 uplift in private and public investment in these sectors, with significant opportunities for related services and capital goods exports to Russia.

With GDP totalling approximately $1.95 trillion in 2012 and with a current population of over 140 million, Russia is expected to surpass France as the largest food and grocery market in Europe by 2020. Russian per capita income, adjusting for price differentials, currently stands at $17,698 and is expected to rise to $23,644 by 2017. These levels of income, unprecedented for other BRICS economies, coupled with high rates of economic growth and investment will create major opportunities for Irish agri-food exporters looking to enter the large, and increasingly lucrative Russian marketplace.

To RSVP: Please reserve your place no later than 12pm midday on Monday, 19th November 2012 by email: jennifercondon@irishexporters.ie or jc@irba.ie or by phone: 01 6424178.

FEES: No charge for IRBA members; €50 for non-members

MAP: http://goo.gl/maps/QnV92

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