Business in Russia’s not dead |

Business in Russia’s not dead

Business in Russia’s not dead
Radomil Doležal
ZDROJ: Michael Tomeš

Jan Stuchlík

Sanctions against Russia seem to have had little effect on Czech exports to the country last year. “Much worse are the effects of the slumping rouble as they spill over to neighbouring countries. It is key for Czech businesses to have exact information on how the competition is dealing with the weakened Russian currency,” said Radomil Doležal, CEO of CzechTrade.

According to data from the Czech Statistical Office [ČSÚ], the only notable year on year drops in exports to Russia were recorded for the months of October and November.

“Business in Russia keeps moving along,” Doležal added. The same conclusion is apparent from CzechTrade results recorded for last year. Overall, the agency assisted with trade with a value of CZK 6.8bn, more than twice the annual average for recent years. In terms of volumes of mediated trade, the three most successful foreign offices of the agency were Moscow, Düsseldorf and Zagreb. And last year’s top three offices in terms of the number of successful orders also included Saint Petersburg. A full one-half of the total volume of trade mediated by CzechTrade occurred during last year’s fourth quarter.

Last September, CzechTrade created a list of eight countries in which the agency offered tailored services to companies looking for substitute markets to fill gaps left by declining Russian consumption. Czech businesses have been demonstrating interest in most of the selected destinations, namely Kazakhstan, Azerbaijan, Turkey, China, India, Indonesia, Brazil and Mexico. “There is no quick fix for finding new markets. It also depends on the products on offer. Penetrating a new market is much more difficult for example for machinery or mining technology manufacturers,” Doležal noted. This year, CzechTrade plans among other things to put more effort into presenting markets that offer trade opportunities to potential exporters.

CzechTrade saw 10-percent growth
Pro-export agency CzechTrade realised 1,559 paid orders last year for 909 companies. The number of orders rose by about one-tenth year on year. Foreign offices of the agency helped Czech manufacturers realise contracts worth more than CZK 6.8bn. Minister of Industry and Trade Jan Mládek decided last spring to put foreign representations of the ministry back under CzechTrade’s umbrella, following a two-year effort at integrating the offices in a uniform network.
Využijte služby
zasílání zpráv do vaší
e-mailové schránky!