Long-Term Strategy Needed for Success in Russia: German-Russian Chamber of Commerce

Michael Harms, Chairman of the German-Russian Chamber of Commerce, is bullish on doing business in Russia, but encourages foreign investors to take the long view of working in the country. What are some of the general challenges of working on the Russian market? There are both current issues and strategic challenges. Since about 2009 and the financial crisis, the Russian economy has been largely…

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Doing Business in Russia: German Companies Positive About the Future

According to a survey on the Russian business climate carried out by the German-Russian Chamber of Commerce in September 2013, two-thirds of German companies working in Russia remain affected by trade restrictions despite Russia’s accession to the W.T.O. Even though import duties have fallen from between 7.8 and 10 percent, the Russian government introduced tariff and non-tariff trade barriers to protect domestic industry immediately…

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Goldman Sachs’ Mission Impossible

In the third quarter of 2012, the economy chalked up its 55th straight quarter of growth and surprised analysts on the upside by growing 7.1 percent. The economy has apparently stabilized at 5 to 6 percent per annum recently, but the Finance Ministry reckons that the growth rate could eventually rise to 7 to 8 percent. Although no new taxes have been introduced, the tax take is…

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Can we overcome the perception gap?

Russian businessmen in Davos were happy to talk about how Western investors have Russia all wrong, but were they really missing the point? At the World Economic Forum in Davos last week, Russian businessmen were singing from the same hymn sheet – and one remarkably similar to the government’s. In…

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Can a businessman make a good politician?

Are the skills learned in business school transferable to the political stage? Or are they not even much good for business leadership? Much ado has been made in the last two weeks about Republican presidential candidate Mitt Romney’s business experience. Some – including his Republican challengers for the presidential nomination…

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Actions speak louder than words

At the 10th International Investment Forum in Sochi, Prime Minister Vladimir Putin declared that Russia is a reliable partner and a good place to do business, but investors remain skeptical. Russian Prime Minister Vladimir Putin addressed the 10th International Investment Forum in Sochi on Sept. 16 and gave a typical…

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