The world’s 9th largest economy, Russia presents great opportunities for UK businesses, but it’s important to know the local business etiquette, and to work with a professional translation provider to ensure you can overcome any language barriers.
Steeped in history and culture, Russian is also one of the official languages of the United Nations, and is becoming more popular to study in the west. But what can UK companies gain from extending their business to the largest country on earth?
Russia is part of the BRICS group, also made up of Brazil, India, China and South Africa, a cluster of emerging economic markets, challenging the traditional FIGS group (French, Italian, German, Spanish). Increased spending power and more involvement in international affairs makes Russia one to watch.
What’s more, Moscow is currently developing an International Financial Centre, a great opportunity for those in the legal or financial sectors, especially when looking at cross-border mergers & acquisitions.
The below infographic summarises some of the key facts and figures about doing business in Russia.