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Monthly Newsletter - September 2012



Russia’s Regions’ Integration Is The Key To Economic Development

On August 22 after 18 years of negotiations, the protocol on Russia's accession to the Marrakesh Agreement establishing the WTO came into force. Russia has become the 156th member of this organization. According to a survey of the All-Russian Public Opinion Research Center, about 60% of Russians cannot say what WTO stands for, but the majority is aware of the entry of Russia into this organization (70% of respondents). Nevertheless, many of the industries will have to play by the new rules, facing growing competition from the foreign manufacturers. For example, pipe industry experts forecast that Russian producers will have to actively introduce new technologies to keep up with rising international standards. Foreign companies now more than ever before have the opportunity to increase their presence in Russia, as tariffs go down and Russian government calls for investments.

So during the speech at APEC 2012 (Asia Pacific Economic Cooperation) in Vladivostok, president Putin assured the leaders of the leading companies in the Asia-Pacific region that Russia will continue to reduce tariff and non-tariff barriers, and all preferential trade agreements will be as open as possible. "By joining the WTO, Russia has undertaken and will fulfill a number of obligations to reduce tariff and non-tariff barriers," - said Putin.

The president also shared that he believes Russia’s regional integration to be the key to the development of international relations and world economy. "It is important to stimulate the global negotiation process and to initiate it from the bottom, from the regions to form the advanced integration of space, mechanisms for dialogue between the regional and sub-regional groupings," - said Putin.

At the same time the business climate in the Russian regions does not meet the needs of small and medium businesses. The extent of this inconsistency with governmental strategy varies between regions. So that the most appropriate conditions for SME development exist in the Moscow Region, Krasnodar, Chelyabinsk region, Stavropol and Samara. Among the 11 megacities best conditions for the development of SMEs are present in Chelyabinsk, Yekaterinburg and Samara. However, although these regions have the most developed infrastructure, densest personnel and affordable financing, the intensity of competition between small businesses for resources suggests prospective development for more Russia’s regions. Positive news for additional regional development come from the Russian Ministry of Transport that works to improve the draft federal law "On the accession of the Russian Federation to the Convention for the Unification of Certain Rules for International Carriage by Air (Montreal, 1999)". This law is expected to increase the quality of carriage service, develop the transportation infrastructure on the territory of Russia, and contribute to the import conditions.


Interesting Russia-related Events in the UK - click here


Familiar Russian Language

Have you ever thought about learning Russian? You probably don’t know that you already have some starting vocabulary!

Over the past few years, as Russia became more and more open to international business, the Russian language has been flooded with English business words such as dealer, franchise, broker, marketing, merchandise, distributor, etc. Innovative technologies, market economy – all the happenings and the concepts are described through international terminology. Use of technology and appliances, annotated in English also promoted introduction of English words such as internet, mixer, gadget, website, computer, processor, monitor, etc.

You can find also older, less specialized words that come from English. These words often refer to concepts invented in Britain. For example, football has come to the world from England, with all its terminology. Every Russian kid knows words like goal, goalie, corner, penalty, forward, out, etc. The same can be said of boxing and hockey terminology clinch knockout, bullet, etc. And here are some additional commonly used words that do not need translation:

Address     Final           Kiosk         Product  Vitamin

Balcony     Garage        Lamp         Radio     Wine

Hospital     Margarine    Sport        Xerox     Doctor

Idea          Nylon         Television   Yacht     Express

Ocean       University    Zebra        Class     Jeans

Now when you see how many words you’ve already learnt, all you need to do is take your knowledge to the next level!

Translation Services (add-on)

Following our successfull launch of French to Russian translation services last month, we are now happy to offer Chinese and Italian to Russian translation too. All our translators are qualified in the respective languages.

We are also glad to welcome on board our new English native speaking Russian to English translator with 20+ years of experience.

"Doing business in Russia" 121 Advice Clinic

Ignaty Dyakov will be conducting a one-to-one advice clinic on Doing business in Russia at the City Business Library on 25th September.

Please ring CBL on 020 7332 1812 to book a 30 minute 1 to 1 appointment. £10 admin charge payable when you book.



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