Breakfast Briefing: “Agri-food Exports to Russia”
Date: Wednesday, 21st September 2011
Time: 7.30am to 10.30am
Venue: Investec, The Harcourt Building, Harcourt Street, Dublin 2


Overview:
Russia's recent economic development and abundance of natural resources have made the market an increasingly important and attractive trade and investment partner for Ireland. Russian imports have nearly doubled since 2005, and demand for imports has not yet reached pre-financial crisis levels, which indicates an opportunity for further growth, while Russia's GDP growth is expected to average roughly 4% up to 2015, primarily fuelled by a strong recovery in consumer consumption and declining inflation.

Despite the fact that Russia’s agricultural sector contributes 7% of Russia's overall GDP and employs about 10% of the work force, Russia maintains a large trade deficit in agri-food products. The processing sector is unable to source its input needs domestically (especially quality meat and dairy inputs), while consumer demand is increasing, fuelled by rising incomes. With GDP totalling approximately $2.23 trillion in 2010 and with a current population of over 140 million, Russia is expected to surpass France as the largest food and grocery market in Europe by 2020, ultimately creating major opportunities for Irish agri-food exporters looking to enter the large, and increasingly lucrative Russian marketplace.

Speakers on the day included:
John Whelan, CEO Irish Exporters Association
Philip Ahearne, Head of Corporate Foreign Exchange Sales, Investec Bank
Vladimir Popov, Vice-Chairman IRBA
James O’Donnell, International Markets Manager, Bord Bia
Colm Ó’Floinn, Director General, Promoting Ireland Abroad Division, Department of Foreign Affairs
Alan Harrison, Corporate Treasury, Investec Bank
Pat Ward, Irish Dairy Board
Joe Keeling, Chairman, Keelings
Sinead Wolfe & Stuart Ramsden, Atradius – Credit Insurance
Mark Rodgers, Cipherion Translations – Language Barriers

For further information on the event or membership of the Ireland Russia Business Association, please contact Jennifer email: jennifer@irishexporters.ie  or jc@irba.ie  or by phone: 01 6424178.