Russia’s recent economic development and abundance of natural resources have made the market an increasingly important and attractive trade and investment partner for Ireland.
Russia’s recent economic development and abundance of natural resources have made the market an increasingly important and attractive trade and investment partner for Ireland. Russian imports have nearly doubled since 2005, and demand for imports has not yet reached pre-financial crisis levels, which indicates an opportunity for further growth, while Russia’s GDP growth is expected to average roughly 4% up to 2015, primarily fuelled by a strong recovery in consumer consumption and declining inflation.
Despite the fact that Russia’s agricultural sector contributes 7% of Russia’s overall GDP and employs about 10% of the work force, Russia maintains a large trade deficit in agri-food products. The processing sector is unable to source its input needs domestically (especially quality meat and dairy inputs), while consumer demand is increasing, fuelled by rising incomes. With GDP totalling approximately $2.23 trillion in 2010 and with a current population of over 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 agri-food exporters looking to enter the large, and increasingly lucrative Russian marketplace.
7.30am – Registration opens / Continental breakfast served
8.00am – Introduction by Seminar Chair John Whelan, CEO Irish Exporters Association
8.10am – Welcome by Philip Ahearne, Head of Corporate Foreign Exchange Sales, Investec Bank
8.20am – Overview of Ireland Russia Business Association by Vladimir Popov, Vice-Chairman IRBA
8.30am – Key Note Address: “Agri-food Opportunities in Russia”, Speaker: James O’Donnell, International Markets Manager, Bord Bia
8.50am – “Joint Economic Commission Ireland Russia – Progress on Latest Round”, Speaker: Colm Ó’Floinn, Director General, Promoting Ireland Abroad Division, Department of Foreign Affairs
9.10am – “Potential currency risks & foreign exchange: exchange rate issues on trading with Russia”, Speaker: Alan Harrison, Corporate Treasury, Investec Bank
9.30am – “Irish Dairy Board – Russia Review”, Speaker: Representative from Irish Dairy Board
9.50am – “Russia Agri-food Exports – Insights from a Potato Exporting Company”, Speaker: Joe Keeling, Chairman, Keelings
10.10am – Panel Q&A (Sinead Wolfe & Stuart Ramsden, Atradius – Credit Insurance; Mark Rodgers, Cipherion Translations – Language Barriers)
10.30am – Wrap-up