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Opportunities remain in Russia for Irish companies despite €100m hit to food exports

October 8, 2014 Comments off

Opportunities remain in Russia for Irish companies despite €100m hit to food exports

Irish food companies have been hit hard by Russian sanctions against Europe, but also by the pork ban introduced at the start of this year, costing Ireland in total an estimated €100m in food related exports in 2014.

This was one of the messages to come out of a business breakfast briefing held by the Ireland Russia Business Association (IRBA) recently.

Speakers included Gerard MacCarthy, director, Enterprise Ireland Russia/CIS and head of the commercial department at the Embassy of Ireland in Moscow and IRBA chair Dr Constantin Gurdgiev.

“From a trade point of view, the rouble euro-exchange rate, the so-called ‘Presidential Ban’ targeted at the food sector as a response to EU sanctions against Russia, and a volatile and unpredictable political and legislative environment are key current risk factors in dealing with the Russian market,” said MacCarthy.

However, the seminar heard opportunities still remain, particularly in genetics, ingredients, and food technology/agricultural consultancy, and it is hoped that the current ban will be lifted in the short term.

Despite a volatile and unpredictable multilateral political landscape in the Russia/CIS region, Irish non-food companies have shown agility and resilience in engaging with what is the third biggest non-EU exports market for Irish companies after the US and China.

Irish exports to Russia amount to around €635m a year. The latest available figures from the Central Statistics Office (CSO) show an increase of 28pc from January to July in comparison with the same period in 2013, with July alone showing a 121pc increase.

The growth has been consistent over time. Enterprise Ireland client exports to Russia – which account for over 45pc of the CSO figures – have increased 87pc between 2008 and 2013.

“The opportunity space for Irish exporters in Russia remains wide open in areas not impacted by sanctions. And new opportunities should open up in areas relating to agricultural production, food processing, storage and transportation,” said Gurdgiev.

“In addition, there is renewed scope for investment in Russia in the above areas and in areas relating to technological innovation and modernisation in a wide range of sectors.”

“While over the next one to two years we can expect more uncertainty and risks to materialise, including the risk of significant further devaluation of the rouble. Taking a longer term horizon of five to 10 years, these factors are likely to be replaced by more positive growth momentum and improved returns on foreign investment.”

The IRBA started in 2010 as a subsidiary of the Irish Exporters Association.

http://businessandleadership.com/exporting/item/47896-opportunities-remain-in/

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IRBA Invite: Breakfast Briefing – Russia, The Current Business Climate & Ongoing Developments (Mon, 29th Sept 2014)

September 10, 2014 Comments off

IRBA Business Breakfast Briefing (Mon, 29th Sept 2014)

Russia Overview: The Current Business Climate & Ongoing Developments

On Monday, 29th September 2014, the Ireland Russia Business Association is hosting a business breakfast briefing with Gerard McCarthy, Director, Enterprise Ireland Russia / CIS & Head of the Commercial Department at the Embassy of Ireland in Moscow speaking about the current business climate and developments in Russia. IRBA Chair Dr Constantin Gurdgiev will cover the issues of economy and macro-risks e.g. ruble valuations, credit supply, sanctions impact and risks for Russian demand side.

Event details:
Time: 8.00am-9.30am
Date: Monday, 29th September 2014
Venue: Annesley Suite, Alexander Hotel, Dublin 2
Map: https://goo.gl/maps/0Owkk
Location & Transport Options: www.alexanderhotel.ie/location-en.html
Fee: 20 EURO per person

RSVPs: If you would like to attend, please RSVP to jc@irba.ie before COB on Monday, 22nd September 2014. Please note: Early booking advised.

Once registered, we would invite you to send in questions and topics for submitting to the speakers for highlighting for discussion at the breakfast.

Sponsors Overview

July 8, 2014 Comments off

sponsor_mhc_logo MASON HAYES AND CURRAN

Mason Hayes & Curran is a full service business law firm with 71 partners and offices in Dublin, New York and London.

Mason Hayes & Curran has the tradition of delivering consistently excellent advice and providing a broad range of legal services to multi-national, institutional and government clients.

The firm has a solution-driven approach to business, which combines commercial awareness with intellectual rigor, constantly exceeding client expectations. They offer real strength and depth yet have still retained their entrepreneurial flair and business focus. Key areas of expertise include Mergers and Acquisitions, Securities Law, Tax, Financial Services and Litigation across a range of sectors including energy, healthcare, technology, real estate and banking.

For more info click here: http://www.mhc.ie/


sponsor_KPMG_logo

KPMG

One of the largest professional services companies in the world and one of the Big Four auditors.

KPMG works with clients in all sectors of Irish business, helping ambitious companies and individuals make the most of opportunities through our range of audit, tax and advisory services. They work with 80 partners and over 1900 people who are based in conveniently located offices in Dublin, Belfast, Cork and Galway.

As part of a global network of professional services firms, KPMG  operates in 155 countries, ensuring that wherever you are doing business the KPMG support and advice you need is always readily available.

The independent member firms of the KPMG network are affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.

For more info, click here: http://www.kpmg.com/IE/en/Pages/default.aspx

Enterprise Ireland Seminar and Networking Event Opportunities in the Russian IT & Telecommunications Sector

May 26, 2014 Comments off

by Jennifer Condon

Print

Enterprise Ireland is delighted to announce an up-coming seminar and networking event about opportunities in the Russian IT and telecommunications sector.

The event will take place on the morning of Wednesday, June 4th at Enterprise Ireland’s East Point offices [Enterprise Ireland, The Plaza, East Point Business Park, Dublin 3.]

The speakers line up will include 3 senior representatives of AFK Sistema.

RDI Director, Intellect Telecom
Director of International Projects, Intellect Telecom
IT Director, AFK Sistema

Intellect telecom is R&D branch of Russian conglomerate company AFK Sistema in the field of communications. Intellect Telecom specialises in the analysis and development of innovative telecommunications solutions, and counts among its clients MTS (AFK Sistema) – the leading telecom provider in Russia and the CIS. In partnership with ZTE Corporation, Intellect Telecom developed the first navigation and communication terminal that uses all four of the world’s major navigation satellites – GLONASS (Russia), GPS (USA), GALILEO (Europe) and BEIDOU (China).

Please mark this date and the details in your diary.

Further information (detailed, speaker line-up, registration link, etc.) to follow shortly.

If you have any questions, please don’t hesitate to contact Kate Kostyunina at Enterprise Ireland on +353 1 7272015 or by email kate.kostyunina@enterprise-ireland.com.

Roundtable: What business needs from the government to help with trade development – Input for Government Joint Economic Commission

October 3, 2011 1 comment

Eamon Gilmore, the Tanaiste and Minister for Foreign Affairs and Trade is visiting Moscow in the first week of November to chair an invigorated Joint Economic Commission between Irish and Russian officials on trade facilitation. He has asked that the IRBA submit a set of recommendations on what issues are of concern in bi-lateral trade between Ireland and Russia in the areas of export, import, investment, travel and tourism. 

We would greatly appreciate input in the formulation of this important position paper to the Tanaiste and welcome feedback, requests and proposals from members of industry currently engaged in trade between these two countries.

Please note the closing date for submissions is Tuesday, the 18th of October 2011.

A roundtable discussion will be held on the 18th of October. Note: this  event is open to IRBA members, and by invitation only.

An Executive Introduction To Russia For Irish Businesses, 24th-28th October 2011

September 29, 2011 Comments off

An Executive Introduction to Russia Oct 24-28, 2011

 

 

 

Chamber of Commerce and Industry of  Pushkin and Pavlovsk

Pushkin (pop. 100,000) and 15 minutes drive from Pulkova International Airport; St.Petersburg was the favored town of the Tsars from the 1700s. With its legacy of magnificent palaces and grand parks it is truly “the Versailles of Russia”. Pushkin today is an excellent base from which to get a feel for this wonderful continent of 150 million prospective consumers for your goods and services in the company of your hosts; the directors and staff at Pushkin Chamber.

Irish businesses and organisations wishing to explore and enter the dynamic Russian market need independent, credible and trustworthy facilitators because doing business in Russia takes time, requires local knowledge, contacts and understanding, openness and a willingness to meet potential Russian partners in a spirit of mutual respect and benefit – there are no quick hits to doing business there!

May Day Management Consultants & Pushkin Chamber have designed a cost and time efficient 5 day/4 night executive introduction to Russia to give you the opportunity to get a sense of Russia, its people and more importantly the business opportunities that this booming economy now offers.

Trip includes:
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IRBA / Investec Breakfast Briefing “Agrifood Exports to Russia”

August 31, 2011 Comments off

Date: Wednesday, 21st September 2011

Venue: Investec, The Harcourt Building, Harcourt Street, Dublin 2

Time: 7.30am to 10.30am

Cost: €50 for non IEA members or non IRBA members

Overview: With GDP totalling approximately $2.23 trillion in 2010 and with a current population of roughly 140 million, Russia is expected to surpass France as the largest food and grocery market in Europe by 2020, ultimately creating major opportunities for Irish agrifood exporters looking to enter the large, and increasingly lucrative Russian marketplace.

Early booking is essential. To reserve your place (no later than Monday, 19th September 2011) please email: jennifer@irishexporters.ie or jc@irba.ie or phone: 01 6424178.

Kindly hosted by:

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