Doing Business in Russia

MWTA is the global arm of the

December 3, 2009 Program I

New_Business_centre_in_Moscow

MWTA has invited Tom Gaglione of J.P. Morgan Chase, and Dave Klink of P&H Mining, to address our members regarding the opportunities and challenges of doing business in Russia. The two speakers will discuss the business environment in Russia, including finance, intellectual property protection, shipping and customs, political and economic issues, and culture.

Before the global economic crisis, Russia experienced nine years of economic expansion, averaging annual GDP growth of 7%. Wisconsin exports to Russia were benefiting, with an increase of 70% in 2007 and 22% in 2008. The Economist Intelligence Unit forecasts a GDP decline of 7.4% in Russia for 2009, but a return to growth in 2010 (2.5%) and 2011 (4%).

Russian oil output is increasing so business opportunities continue in this important sector. Significant opportunities are expected for years to come in infrastructure improvements across the country. Other sectors of interest include medical, telecommunications, metalworking, and agricultural equipment.

Companies targeting the Russian market need to be aware of both the opportunities, as well as the challenges. Challenges may include high import duties (relative to many other trading partners), non-tariff barriers (complex standards requirements), access to credit, intellectual property protection, and a lack of transparency.

Tom Gaglione

Mr. Gaglione has over 30 years combined experience in international trade banking and export and credit insurance industries. He currently serves as Vice President of J.P. Morgan’s Global Trade Services Midwest Team, supporting global trade payment, finance, supply chain logistics management and trade compliance management needs of J.P. Morgan clients in Wisconsin and Minnesota.

Dave Klink

Mr. Klink has over 20 years international business experience, 12 of those in the mining industry, and nine with P & H Mining. He has experience in Russia, China, India, Africa, and South America. He is the Product Support and Service Manager, International Group, and in this capacity led the first shovel build project in Russia in over 30 years. He just returned from a recent trip to Russia.

Ben Lanza

Ben Lanza, President of Medica International, Ltd., will act as moderator for this discussion. Mr. Lanza has more than 25 years experience in international sales and marketing. Medica International markets pharmaceutical and medical supplies worldwide through established distributors. He has traveled extensively in Latin America, Europe, the Middle East and Far East. In 2008 they opened a small office in Riga, Latvia, with an Area Manager who is originally from Russia. She handles their activities in Russia with great success.

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