TPT May 2008

›

ow in its sixth successful year, Tube Russia has become somewhat of

a Russian standard. The growing reliability of the Moscow-based event

– held alongside regular partners Metallurgy-Litmash and Aluminium/Non-

Ferrous – is in close correlation with Russia’s increasingly confident and

stable business and economic conditions.

Russia has again experienced stable growth in 2007, with GDP growth rising

to 8.1 per cent and 6.7 per cent predicted for this year (source: Federal State

Statistics Service). Although there is danger of a worldwide recession, Russia is

well-placed to deal with such pressures. Unlike many western countries, Russia’s

economy is not so reliant upon personal debt and consumer credit.

According to Russia’s finance minister Mr

Kudrin,

“The world

’

s crisis will create additional

challenges and risks in 2008. (But) the central

bank and the government have enough

resources to ensure stability of the financial

system.”

(source: Reuters)

Knowledge is everything:

Tube Russia 2008

In 2007, the car

market grew by

35 per cent...by

2012, 1.4m cars

of foreign origin

will be produced

in Russia

❱

Russia has continued its position as

a place for investment, with Mr Kudrin

announcing $47 billion FDI (foreign

direct investment) for 2007. In particular,

automotive manufacture has recently gone

into overdrive in Russia.

In 2007, the car market grew by 35 per

cent, while it is predicted that by 2012,

2008