From 14/10/2018 to 17/10/2018

Moscow (Russia)

The participating companies will have the opportunity to take part in tailor-made business-to-businessmeetings in Moscow and network with muscovite companies during and after the Luxembourg-Russia Forum organized by the Luxembourg Chamber of Commerce and the Chamber of Commerce and Industry of the Russian Federation in their facilities located in the historic center of Moscow. During the accompanied visit, participating companies from Luxembourg will have an opportunity to discover the Open Innovations Forum 2018, Russia’s leading platform for technology entrepreneurs and corporations to find new opportunities for development, connect with investors, partners and officials. Companies may also participate in networking receptions and of course, various opportunities to meet key players will be provided.

Russia’s economic recovery continues against most expectations, amidst relatively high oil prices, enhanced macroeconomic stability, gradual monetary loosening, a decline in unemployment and ongoing momentum in global economic growth, says the World Bank’s latest Russia Economic Report.

Russia, the largest state in the world, extends throughout most of the Eurasian continent, eleven time zones and a diverse range of environments with its arid plains, wide forests and arctic tundra. Its economic diversity mirrors its geographic variety, and Russia’s prime geographic situation has allowed the country to tie a strong network with its neighbors in Europe, in Central Asia and in the Far East. Despite the EU-Russia sanctions and the somewhat acrimonious political climate, business opportunities between the world’s largest country and Luxembourg, the second-smallest country in the European Union, could be plentiful.

Following two years of recession caused by the low oil prices and economic sanctions, the Russian economy has engaged on a path to improvement at the end of 2016, along with the strengthening of global growth and trade. Russia’s abundant natural resources, that played a critical role in the economic development of the country in the past centuries yet plunged the nation in a deep crisis in 2014 when oil and gas prices dropped severely, seem to benefit the country once again (amongst other tradable sectors) due to the relative price adjustments and the still interesting exchange rate of the Russian Ruble, facilitating the export of Russian goods and the rise of foreign investment. From a sectorial standpoint, Russia is making efforts to diversify its economy in order protect itself of the global price fluctuation of natural resources. The main sectors today are the production of machinery, the oil & gas industry, petrochemistry, metallurgy, agriculture, infrastructure and logistics, as well as finance and innovative technologies.

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