Together with our business associate Steffen Smeenk, we provide services to numerous companies that are looking to enter the Russian and Kazakhstan market.
Russian market prospect:
Russia is slowly emerging from a two-year recession caused by low oil prices and Western sanctions. We forecast weak growth in 2017 of 0.9%. Structural weaknesses, low investment and fiscal tightening will keep trend GDP growth below 2% a year in the medium term. Tensions with the West are likely to remain high throughout the forecast period; economic ties with Asia will grow. Major political or economic reform is unlikely, but the regime will attempt to improve the efficiency of the system. (Source: The Economist Intelligence Unit 2017)
Promising sectors for western companies: Agrifood, Oil & Gas, Chemicals.