TPT March 2009

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March 2009 58 ›
T he Russian economy is no
stranger to instability and
crisis, so it could be said that
Moscow is the most predictable
place to do business at the moment.
Due to a sustained period of financial
success, with an average GDP
growth of 7 per cent between 2000-
2008, the country now operates on
firmer foundations to secure long-
term investment confidence.
Russia has resolved its leadership
question, with a government now run
by Dmitry Medvedev and Vladimir
Putin, which should enable the
country to emerge from the current
global recession in a stable position.
A large part of Russia’s development
in recent years has been due to the
enormous quantities of foreign direct
investment, with US$55-58 billion
estimated for 2008 (RIA Novosti).
According to an article titled ‘The
economic situation and investment
climate in Russia (2008)’, authored
by the American Chamber of
Commerce in Russia and Ernst
& Young, over the coming years
the Russian economy will “show
stability and continued growth,
despite a deteriorating situation on
the world market.”
But although Russia’s business
and economic outlook is far more
stable than in previous decades,
doing business in Russia is still
a complicated venture. Ernst
& Young comments, “Many
companies operating in Russia are
unsatisfied with the slow pace of
tax reform and disappointed by the
tax authorities’ inconsistency in the
application and interpretation of
tax legislation.”
However, it is only by gaining entry
into the Russian market that foreign
companies can tackle such issues.
An ideal forum to gain a foothold in
the Russian market, Tube Russia
2009 will take place from 12-15 May
in pavilions 3 and 7 at the Presnaya
Krasnya Expocentre in Moscow.
As qualification for the long-term
confidence in the Russian market,
Tube Russia 2009 is already sold out,
with space only available via await list.
In such current economic conditions,
this is a highly enouraging sign.
The event will again be partnered
by wire Russia, Metallurgy-Litmash
and Aluminium/Non-Ferrrous 2009.
Tube 2007, which was the last event
to take place alongside wire Russia,
welcomed 300 exhibitors from 26
countries and 13,500 trade visitors.
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