Prospects for Russian High-tech Companies in Europe Discussed in Moscow
Experts consider Austria one of the most favorable European countries to promote Russian nanotechnology products
The Fund for Infrastructure and Educational Programs reports that during a web conference held by the Fund for Infrastructure and Educational Programs and Autonomous Non-Profit Organization eNano, representatives from the Russian nanoindustry and Russian trade representatives in European countries discussed the prospects and challenges faced by Russian high-tech companies entering the EU market.
“Nanotechnology companies are keen on developing cooperation with partners from Europe, in particular from Italy, the Czech Republic and Austria, which they consider the most favorable to Russia and Russian business. Trade representatives from the Russian Federation in the aforementioned countries presented the right ways to entering those national markets. Thirteen high-tech product manufacturers also took part in the web conference,” the press release says.
“Russian nanotechnology product exports are increasingly growing every year,” head of the Fund’s regional projects department Kirill Karabanov said during the conference. According to him, exports increased to RUB 286 bln in 2017, a growth rate of 11% when compared to 2016.
The Fund’s press release says that 78 nanotechnology companies were involved in foreign trade as of Q1 2018, and their exports were RUB 90 bln, or 1.5% of total exports in Russia. “The nanoindustry saw a 30% increase in exports when compared to Q1 2017,” the press release reads.
European Countries Favorable to Russian Business
“Austria is one of the most favorable European countries to promote Russian nanotechnology products,” said Russian trade representative Aleskandr Potyomkin during the conference. “Cooperation with Austria takes you outside of the fairly small domestic market,” he said. According to him, 14 new projects related to the establishment of joint ventures in Russia with Austrian partners have been registered over the last two years.
“We have found 14 nanotechnology companies dealing with equipment and measuring tools, nanoprinting, nanomaterials, electronics, biomedicine. Those companies are fully integrated into the major industries such as aircraft engineering, automotive industry, machine tool industry, electronics, automation, metallurgy, production of powdered materials and roofing materials,” he said.
Oleg Chursin, head of the Trade Representation of Russia in Italy, noted that this European country is a strategic partner of Russia, occupying fifth place in foreign trade. “While the economy’s growth rate was below 1% over the last few years, the high-technology sectors show 8-10% growth,” said Mr. Chursin.
The Czech Republic is another country favorable to Russian high-technology business, says trade representative of Russia in the Czech Republic Sergey Stupar. The exports of high-technology products from Russia to the Czech Republic are constantly growing. He encouraged the Russian high-technology companies seeking to enter the Czech market to participate in the International Engineering Fair in Brno, one of the major events supported by the Russian Export Center.