In conjunction with the London Chamber of Commerce and Industry (LCCI) and the Russo-British Chamber of Commerce (RBCC), and in association with In2Matrix and UK Trade and Investment (UKTI), an event was held in London on UK-Russia Market Opportunities with Dr Vince Cable as the keynote speaker.
The event highlighted practical solutions and successful examples of how companies, both British and Russian, can benefit from the enormous potential that exists between the two countries. The seminar discussed opportunities for other sectors such as engineering, infrastructure, creative industries, and in particular the support and encouragement both governments are providing to SME’s.
Keynote speaker Dr Vince Cable spoke about several areas in relation to the Russian business market including Russia diversifying from being a gas producer. He told of how professional and legal services are flourishing in the UK and that legal service’s in the UK are Russia’s biggest market. Russia is well known for its natural resources and communal opportunities in a host of areas are growing as the middle class grow their appetite for quality. Russia has many barriers to entry of their market, but those companies that have broken into this market have enjoyed great success. He concluded that Russia can be a difficult market and he said “most British companies do very good business in Russia; I recommend others do the same”.
In2Matrix Chairman and CEO Mr Gerard Baltazar also spoke at the event about his experience with doing business in Russia. In2Matrix is an organisation with an interesting start up story in that it actually started in Russia during the recession; it was rebranded in 2008 as In2Matrix. The UK entity began operation in London just over a year ago. He spoke of the hurdles and struggles he encountered as well as the misconceptions of doing business in Russia.
He also spoke of the wonderful and exciting opportunities in Russia that cannot be over looked and how early movers and investors have huge opportunities for growth and profit. He said “I was very proud to represent In2Matrix at today’s event as In2Matrix was born in Russia and then expanded into Europe. Russia is a difficult yet misconceived market, yes it does have its obstacles but most markets do. We have found great opportunities for doing business in Russia so this is certainly a market that other British business should not overlook, but embrace.
We have been honoured to be involved in such a successful event today with Business Secretary Dr Vince Cable as our guest speaker, we are also thrilled to have had the Russian Ambassador, HE Alexander Yakovenko present today and extend his support”.
Photos below: 1st Photo – Conference Room at CBRE, 2nd Photo – Dr Vince Cable, Russian Ambassador HE Alexander Yakovenko, Gerard Baltazar In2Matrix Chairman & CEO, 3rd Photo – Dr Vince Cable, 4th Photo – Dr Vince Cable
