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Exports from Ireland to Russia increased by 20% in the twelve months to 31st December 2012

January 14, 2013

John Whelan, Chief Executive of the Irish Exporters Association speaking at the Ireland Russia Business Association (IRBA) charity lunch in aid of ‘To Russia with Love’ on Friday, 11th January 2013 stated:

“Exports of goods and services to Russia increased by 20% to  €1.8 billion in the year to end December 2012. The Russian market is now one of Ireland’s key export growth markets. We have seen a doubling of our exports to the market over the past five years, with plenty of potential for further rapid growth in the future.’’

He went on to say: “The re-negotiation of the Irish–Russian Joint Economic Commission (JEC) in 2011 and the associated trade mission in November 2011 led by Tánaiste Eamon Gilmore and followed on by the trade mission in 2012 led by Joe Costello the Minister of State for Trade and Development at the Department of Foreign Affairs & Trade, has given Irish exporters a much improved business climate and helped in no small way in this rapid expansion of trade. Russia is also a major market for other EU member states and is now the EU27’s third most important trading partner after the USA and China, accounting for 7% of EU27 exports and 12% of EU27 imports in 2012.”

John Whelan concluded by advising companies who are searching for new countries to launch new products into should take a long hard look at Russia, and the IRBA is there to assist. Russia is the fastest growing IT market in Europe with an internet audience of 57.8 million and hence offers great low cost internet based opportunities to launch new products.

For further information on the Ireland Russia Business Association (IRBA) contact the secretariat: Jennifer Condon, jc@irba.ie.

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