ED Group at the RBC Foreign Trade Forum

On April 29, 2024, the Foreign Trade Forum was held at the RBC Event Center, focusing on current issues in international cooperation and exports.

The event brought together representatives of business, government agencies and the expert community to discuss strategies for developing foreign economic activity under new conditions.

Andrey Prokhorovich, Founder and Managing Partner of Eurasia Development Group, took part in the session “Russian Companies Entering New Markets.”

In his remarks, Andrey commented on the situation facing Russian exports to China amid the U.S.–China trade war and highlighted several key aspects of working with Asian markets:

“In China and other markets across the region, companies succeed when they work with local partners, build long-term relationships and adapt their business models to the local cultural and business context… Instead of a universal ‘export’ approach, companies need a deep understanding of each market, should move away from standardized management solutions and focus on localization…”

Other participants in the discussion supported this view.

Vitaly Stepanov, CEO of the Moscow Export Center, presented data on Moscow’s engagement with markets in friendly countries: since 2019, the share of the capital’s exports going to friendly countries has increased to 88%, while the volume of high-tech exports has doubled.

Manish Kumar, President of Soltex Group and Deputy Chairman of the Moscow Chamber of Commerce and Industry Commission for Foreign Economic Cooperation with Partners in India, emphasized India’s enormous consumer potential, including more than 400 million middle-class consumers.

He noted that the Indian economy is characterized by a high level of digitalization and relatively low bureaucracy.

Georgy Ryabtsev, Director of the International Business Development Center at the Russian-Asian Union of Industrialists and Entrepreneurs, highlighted the shortage of qualified personnel and called for the training of specialists capable of nuanced engagement with Asian partners.

Natalia Zaiser, Chair of the Board of the African Business Initiative Union, stressed the need to move away from viewing Africa as a single market.

She noted that the continent requires an individual approach, an understanding of regional differences, and engagement in social projects and infrastructure initiatives.

Arsen Ayupov, Head of the Russia–Turkey Working Group at the Russian Union of Industrialists and Entrepreneurs and Partner at NSP, discussed cultural aspects of doing business in Turkey, including the importance of interpersonal relationships and a preference for practical business discussions over lengthy theoretical approaches.

The discussion at the forum once again confirmed that successful expansion into new markets requires not only economic tools but also a precise understanding of local conditions.

Eurasia Development Group provides expert support and tailored solutions for working with China, helping companies build long-term and mutually beneficial partnerships amid global change.