ECONOMY OF RUSSIA EMBASSY OF GREECE - MOSCOW OFFICE FOR ECONOMIC & COMMERCIAL AFFAIRS.

ECONOMY OF RUSSIA

EMBASSY OF GREECE - MOSCOW

OFFICE FOR ECONOMIC & COMMERCIAL AFFAIRS

MAP OF RUSSIA

GENERAL CHARACTERICTICS

Population 142,9 million

Area: 17.075.400 sq km.

11 Time Zones

9th Largest economy in the world

GDP (% change 1999-2012)

3.4

-10

-8

-6

-4

-2

0

2

4

6

8

10

12

1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

Russian Bureau of Statistics/IMF

GDP & GDP per capita (2003-2012)

 YearGDP (in current prices) GDP per capita

(billion rbl.) (US$/YEAR)

2004 17,027.20 4,119.6

2005 21,609.76 5,348.0

2006 26,917.20 6,961.5

2007 33,247.50 9,152.8

2008 41,276.80 11,704.3

2009 38,807.2 8,616.5

2010 46,321.8 10,407.9

2011 55,798.7 12,993.3

2012 62,356.9 (≈ 1.99 trillion US$) 13,764.776

Russian Bureau of Statistics

INFLATION 1998-2012

84.4%

36.5%

20.2%

18.6%

15.1%

12.0%11.7%

10.9%9.0%

11.9% 13.3%

8.8% 8.8% 6.1% 6.6%

1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

Russian Bureau of Statistics

Unemployment rate (2000-2012)

5.7

6.6

7.5

8.4

6.3

6.1

7.27.2

7.8

8.27.9

9.0

10.6

0

2

4

6

8

10

12

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

REFINANCING INTEREST RATE (1999-2012)

8%

0%

10%

20%

30%

40%

50%

60%

70%

Russian Central Bank – 1.1.2012

EXTERNAL DEBT

220.5 billion US$

324.7 billion US$

0

100

200

300

400

500

600

2005 2006 2007 2008 2009 2010 2011

Public Sector

Private Sector

External Debt ≈ 29% ΑΕΠ

Currency Composition of External Debt of the Russian Federation

Rbl24%

US$61%

Other currencies3%

Euro12%

RESERVE FUND & NATIONAL WEALTH FUND

0,00

1000,00

2000,00

3000,00

4000,00

5000,00

6000,00

7000,00

8000,00

National Wealth Fund: 2.7 trillion rbl (88.6 billion US$)

RESERVE FUND: 1.8 trillion rbl (62.1 billion US$)

INTERNATIONAL RESERVES

537.6 billion US$

0

100000

200000

300000

400000

500000

600000

MONETARY COMPOSITION OF INTERNATIONAL RESERVES

$USA47%

$CAN1%

YEN2%

EURO41%

POUNDS9%

Corruption Perceptions Index – Transparency International (1)

1 Denmark 22 France 45 Korea (South) 66 Romania

1 Finland 22 Saint Lucia 46 Brunei 66 Saudi Arabia

1 New Zealand 25 Austria 46 Hungary 69 Brazil

4 Sweden 25 Ireland 48 Costa Rica 69 Macedonia

5 Singapore 27 Qatar 48 Lithuania 69 South Africa

6 Switzerland 27 United Arab Emirates 50 Rwanda 72 Bosnia and Herzegovina

7 Australia 29 Cyprus 51 Georgia 72 Italy

7 Norway 30 Botswana 51 Seychelles 72 Sao Tome and Principe

9 Canada 30 Spain 53 Bahrain 75 Bulgaria

9 Netherlands 32 Estonia 54 Czech Republic 75 Liberia

11 Iceland 33 Bhutan 54 Latvia 75 Montenegro

12 Luxembourg 33 Portugal 54 Malaysia 75 Tunisia

13 Germany 33 Puerto Rico 54 Turkey 79 Sri Lanka

14 Hong Kong 36 Saint Vincent and the Grenadines 58 Cuba 80 China

15 Barbados 37 Slovenia 58 Jordan 80 Serbia

16 Belgium 37 Taiwan 58 Namibia 80 Trinidad and Tobago

17 Japan 39 Cape Verde 61 Oman 83 Burkina Faso

17 United Kingdom 39 Israel 62 Croatia 83 El Salvador

19 United States 41 Dominica 62 Slovakia 83 Jamaica

20 Chile 41 Poland 64 Ghana 83 Panama

20 Uruguay 43 Malta 64 Lesotho 83 Peru

22 Bahamas 43 Mauritius 66 Kuwait 88 Malawi

Corruption Perceptions Index – Transparency International (2)

88 Morocco 105 Mexico 133 Comoros 154 Kyrgyzstan

88 Suriname 105 Philippines 133 Guyana 156 Yemen

88 Swaziland 113 Albania 133 Honduras 157 Angola

88 Thailand 113 Ethiopia 133 Iran 157 Cambodia

88 Zambia 113 Guatemala 133 Kazakhstan 157 Tajikistan

94 Benin 113 Niger 133 Russia 160 Democratic Republic of the Congo

94 Colombia 113 Timor-Leste 139 Azerbaijan 160 Laos

94 Djibouti 118 Dominican Republic 139 Kenya 160 Libya

94 Greece 118 Ecuador 139 Nepal 163 Equatorial Guinea

94 India 118 Egypt 139 Nigeria 163 Zimbabwe

94 Moldova 118 Indonesia 139 Pakistan 165 Burundi

94 Mongolia 118 Madagascar 144 Bangladesh 165 Chad

94 Senegal 123 Belarus 144 Cameroon 165 Haiti

102 Argentina 123 Mauritania 144 Central African Republic 165 Venezuela

102 Gabon 123 Mozambique 144 Congo Republic 169 Iraq

102 Tanzania 123 Sierra Leone 144 Syria 170 Turkmenistan

105 Algeria 123 Vietnam 144 Ukraine 170 Uzbekistan

105 Armenia 128 Lebanon 150 Eritrea 172 Myanmar

105 Bolivia 128 Togo 150 Guinea-Bissau 173 Sudan

105 Gambia 130 Côte d´Ivoire 150 Papua New Guinea 174 Afghanistan

105 Kosovo 130 Nicaragua 150 Paraguay 174 Korea (North)

105 Mali 130 Uganda 154 Guinea 174 Somalia

CREDIT RATING(01- 03 - 2013)

Moody’s: Baa1 (STA)

Fitch : BBB (STA)

S & P : BBB (STA)

CURRENT ACCOUNT BALANCE 2003-2012

-300000

-250000

-200000

-150000

-100000

-50000

0

50000

100000

150000

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

35410

59512

8460294686

77768

103530

48605

71080

98834

81300 (est.)

-38310 -40655

-64314

-96075

-140800

-206610

-142104

-182929

-242978

-265700 (est.)

tho

usan

d U

S$

Current Account Balance

Current Account Balance without energy products

CAPITAL INFLOW / OUTFLOW 1994-2012

Central Bank of Russia

-23.80 -18.30-21.70 -20.80 -24.80

-14.90-8.10 -1.90 -8.90

-0.10

41.40

81.70

-133.70

-56.20 -34.40

-80.60-56.8

-150

-100

-50

0

50

100

billio

n U

S$

1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

BANKS

PRIVATE SECTOR

CAPITAL BALANCE

Russian FDI abroad & FDI in Russia (million US$)

UNCTAD

0

50000

100000

150000

200000

250000

300000

350000

400000

450000

500000

1992

1993

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

Outword Investment Stocks Inward Investment Stocks

Russian FDI abroad2011: 362.1 billion US$ ≈ 1.7% of total FDI

16th largest investor abroad

FDI in Russia2011: 457.4 billion US$ ≈ 2.2%of total FDI (in Russia)

14th largest receiver of FDI in the World

Russian FDI abroad & FDI in Russia 2011 (million US$)(20 MOST IMPORTANT COUNTRIES OF ORIGIN/TARGET OF FDI)

α/α COUNTRY OF ORIGIN FDI in Russia % of Total FDI α/α COUNTRY – TARGET of Russian FDI Russian FID abroad % of Total outward FDI

1 CYPRUS 179217 36,33% 1 CYPRUS 153934 36,33%

2 BERMUDAS 52593 10,66% 2 NETHERLANDS 39668 10,66%

3 VIRGIN ISLANDS 50966 10,33% 3 VIRGIN ISLANDS 38762 10,33%

4 NETHERLANDS 40206 8,15% 4 BERMUDAS 13758 8,15%

5 BAHAMAS 24579 4,98% 5 LUXEMBOURG 12004 4,98%

6 GERMANY 23124 4,69% 6 UNITED KINGDOM 10278 4,69%

7 LUXEMBOURG 19659 3,98% 7 U.S.A. 9825 3,98%

8 SWEDEN 18095 3,67% 8 SWITSERLAND 9277 3,67%

9 FRANCE 11793 2,39% 9 GERMANY 6721 2,39%

10 UNITED KINGDOM 7795 1,58% 10 BELORUSSIA 5702 1,58%

11 AUSTRIA 6653 1,35% 11 GIBRALTAR 5653 1,35%

12 FINLAND 6634 1,34% 12 AUSTRIA 5456 1,34%

13 SWITSERLAND 6531 1,32% 13 BAHAMAS 4996 1,32%

14 GIBRALTAR 5756 1,17% 14 UKRAIN 4333 1,17%

15 U.S.A. 5380 1,09% 15 SPAIN 3553 1,09%

16 NETHERLANDS 3765 0,76% 16 CANADAS 3474 0,76%

17 BELGIUM 2849 0,58% 17 BELIZ 3328 0,58%

18 JAPAN 2006 0,41% 18 HUNGARY 2230 0,41%

19 CHINA 1987 0,40% 19 KAZACHSTAN 2036 0,40%

20 S.KOREA 1950 0,40% 20 TURKY 1966 0,40%

Russian Central Bank

RUSSIAN FOREIGN TRADE (2000-2012)

0

50000

100000

150000

200000

250000

300000

350000

20032004

20052006

20072008

20092010

20112012

IMPORTS: 335.4 billion US$

EXPORT OF ENERGY PRODUCTS: 347.0 billion US$

EXPORTS OF OTHER PRODUCTS: 183.7 billion US$

TRADE BALANCE: 195.4 billion US$TRADE BALANCE WITHOUT ENERY PRODUCTS:

-151.7 billion US$

COMPOSITION OF RUSSIAN EXPORTS (2011)

Metalls and Precious Stones

11%

Mashines, equipment and cars

5%

Other products1%

Food & Agricultural Products

2%

Minerals73%

Textiles & Shoes0%

Wood & Paper products2%

Skin and Fur products0%

Chemical Products & ruber6%

COMPOSITION OF RUSSIAN IMPORTS (2011)

Wood & Paperproducts2%

Textiles and Shoes6%

Metalls and Precious Stones

7%

Skins and Fur products1%

Chemical Products & rubber

15%

Minerals2%

Food & Agricultural Products

14%

Other products4%

Mashines, equipment and cars

49%

MOST IMPORTANT TRADE PARTNERS (million US$)COUNTRIES EXPO

RTSIMPORTS EXPORTS % of

TotalΕισαγωγές % of

TotalTOTAL TRADE % of Total TRADE BALANCE

2010 2011   2010 2011   2010 2011

TOTAL 336,959 197,439 503,133 100,0% 298,454 100,0% 534,398 801,587 100.0% 139,520 204,679

CHINA 20,325 39,036 35,241 7,0% 48,264 16,2% 59,361 83,505 10.4% -18,712 -13,023

GERMANY 25,103 26,714 34,173 6,8% 37,676 12,6% 51,817 71,849 9.0% -1,610 -3,503

NETHERLANDS 53,963 4,442 62,567 12,4% 5,924 2,0% 58,405 68,491 8.5% 49,520 56,643

ITALY 27,404 10,044 32,582 6,5% 13,401 4,5% 37,448 45,983 5.7% 17,360 19,181

TURKEY 20,367 4,879 25,429 5,1% 6,374 2,1% 25,246 31,803 4.0% 15,488 19,055

U.S.A. 12,419 11,135 16,604 3,3% 14,601 4,9% 23,555 31,205 3.9% 1,284 2,003

JAPAN 12,835 10,301 14,701 2,9% 15,004 5,0% 23,135 29,705 3.7% 2,534 -303

FRANCE 12,437 10,118 14,857 3,0% 13,276 4,4% 22,555 28,133 3.5% 2,320 1,581

POLAND 14,936 5,825 21,369 4,2% 6,651 2,2% 20,761 28,020 3.5% 9,111 14,718

SOUTH KOREA 10,435 7,273 13,356 2,7% 11,593 3,9% 17,708 24,949 3.1% 3,162 1,763

U.K. 11,312 4,575 13,997 2,8% 7,180 2,4% 15,887 21,177 2.6% 6,737 6,817

FINLAND 12,170 4,585 13,190 2,6% 5,671 1,9% 16,754 18,861 2.4% 7,585 7,519

26

GREEK – RUSSIA BILATERAL TRADE (2006-2012)

3,577,081,252

3,130,302,437

4,454,048,615

2,959,729,909

4,794,233,309

20114,051,909,063

(369,536,274 without energy products)

441,143,281 356,505,836 418,876,698234,543,887 321,751,885

386,635,766459,457,633

0

1,000,000,000

2,000,000,000

3,000,000,000

4,000,000,000

5,000,000,000

6,000,000,000

2006 2007 2008 2009 2010 2011 2012

2012307,630,751

(without energy products)

IMPORTS

EXPORTS

ΕΛΣΤΑΤ

GREEK EXPORTS TO RUSSIA 2010-’11 (in euros)

α/α CN PRODUCT 2011 2010 Change Share of Total

1 43.03 Furs 101,656,186 95,596,994 6.34% 25,8%

2 85.17 Telephone sets etc 33,959,518 14,909,478 127.77% 8,6%

3 08.10 Strawberries & kiwis 33,656,175 18,002,663 86.95% 8,5%

4 08.09 Peaches and cherries 31,559,674 25,400,707 24.25% 8,0%

5 34.05 Polishes and creams for various surfaces 14,084,770 10,297,392 36.78% 3,6%

6 24.01 Tobacco 10,429,506 15,468,726 -32.58% 2,6%

7 27.10 Petroleum Oils 9,194,802 5,887,957 56.16% 2,3%

8 85.42 Electric Integrated Circuits 8,591,713 2,715,918 216.35% 2,2%

9 20.07 Jam, fruit jellies etc 8,574,396 11,559,126 -25.82% 2,2%

10 74.11 Copper tubes 8,348,204 1,132,743 636.99% 2,1%

11 03.02 Fish fresh 8,100,128 10,388,486 -22.03% 2,1%

12 56.01 Wadding of textile materials 6,845,824 5,586,458 22.54% 1,7%

13 84.28 Lifts 6,805,339 5,084,018 33.86% 1,7%

14 76.06 Aluminum plates 6,340,068 4,671,609 35.71% 1,6%

15 84.18 Refrigerators 6,301,622 3,382,300 86.31% 1,6%

16 15.09 Olive oil 6,027,527 4,810,484 25.30% 1,5%

17 20.08 Preserved fruits 4,154,064 3,650,940 13.78% 1,1%

18 26.08 Zinc ores & concentrates 4,132,585 0 - 1,0%

19 08.05 citrus 4,050,359 859,570 371.21% 1,0%

20 20.05 Olives 3,744,001 3,626,132 3.25% 0,9%

21 76.07 Aluminum foil 3,024,313 4,383,335 -31.00% 0,8%

22 39.21 Other Plastic sheets, plates, film, foil etc 3,016,631 5,560,983 -45.75% 0,8%

23 39.20 Plastic sheets, plates, film, foil etc 2,633,243 129,883 1927.40% 0,7%

24 08.08 Apples 2,199,092 2,448,314 -10.18% 0,6%

25 68.02 Marble 2,040,213 655,742 211.13% 0,5%

TOTAL 394,313,206 321,792,208 22,54% 100%

GREEK IMPORTS FROM RUSSIA

(in euros)

α/α CN PRODUCT 2011 2010 CHANGE SHARE of TOTAL

1 27.09 Crude Oil 1.720.644.882 2.807.794.791 -38.72% 42,47%

2 27.10 Petroleum oils 1.136.363.017 985.564.911 15.30% 28,05%

3 27.11 Natural Gas 817.988.511 579.247.570 41.22% 20,19%

4 76.01 Inwrought Aluminum 181.907.155 163.511.047 11.25% 4,49%

5 72.08 Flat rolled products of iron or non alloy steel 43.998.856 28.766.770 52.95% 1,09%

6 10.01 Wheat 33.394.137 9.790.220 241.10% 0,82%

7 72.04 scrap 12.702.419 24.669.487 -48.51% 0,31%

8 10.05 Corn 11.848.414 0 - 0,29%

9 43.01 Furs 10.511.959 4.859.133 116.33% 0,26%

10 40.02 Rubber 7.780.990 5.342.823 45.63% 0,19%

11 31.05 Mineral fertilizers with phosphorus 7.143.737 3.817.544 87.13% 0,18%

12 31.04 Mineral fertilizers potassic 6.509.053 6.544.393 -0.54% 0,16%

13 28.03 Carbon 5.906.508 4.120.023 43.36% 0,15%

14 76.02 Aluminum scrap 4.620.509 3.117.334 48.22% 0,11%

15 48.01 Paper 4.156.169 13.740.404 -69.75% 0,10%

16 15.12 Sunflower oil 4.096.349 12.191.763 -66.40% 0,10%

17 74.08 Copper Wire 3.563.920 9.122.953 -60.93% 0,09%

18 44.07 Wood 3.374.788 6.144.015 -45.07% 0,08%

19 44.12 Plywood 3.219.786 4.081.695 -21.12% 0,08%

20 48.04 Uncoated craft paper and paperboard 3.009.609 2.862.070 5.15% 0,07%

21 10.03 Barley 2.832.022 327.319 765.22% 0,07%

22 47.03 Chemical Wood pulp 2.216.353 1.264.577 75.26% 0,05%

23 39.07 Polyacetals 2.142.357 0 - 0,05%

24 23.06 Oilcake 1.930.574 2.700.358 -28.51% 0,05%

25 44.03 Rough wood 1.620.465 844.278 91.94% 0,04%

TOTAL 4,051,909,063 4,794,233,309 -15.48% 100.00%

TOURISMΑ/Α COUNTRY 2011 2012 CHANGE SHARE Α/

Α COUNTRY 2011 2012 CHANGE SHARE

1FINLAND 4,416,283 5,118,780

16 10.71% 20AUSTRIA 289,236 320,537

11 0.67%

2TURKEY 3,260,138 3,334,727

2 6.97% 21U.K. 289,675 295,708

2 0.62%

3CHINA 2,432,615 2,312,199

-5 4.84% 22U.S.A. 242,098 276,354

14 0.58%

4EGYPT 1,659,611 2,246,440

35 4.70% 23SWITZERLAND 231,714 265,747

15 0.56%

5ESTONIA 1,678,374 1,825,923

9 3.82% 24TUNIS 153,694 226,193

47 0.47%

6GERMANY 1,325,452 1,385,363

5 2.90% 25S.KOREA 161,893 187,536

16 0.39%

7TAILAND 917,848 1,112,253

21 2.33% 26NETHERLANDS 161,712 162,484

0,5 0.34%

8POLAND 684,428 1,014,622

48 2.12% 27NORWAY 126,435 154,272

22 0.32%

9 SPAIN 785,866 990,637 26 2.07% 28 CROATIA 135,144 134,518 -0,5 0.28%

10LITHOUANIA 755,926 910,511

20 1.90% 29JAPAN 67,563 79,099

17 0.17%

11 GREECE 710,304 834,355 17 1.75% 30 KUBA 67,812 74,972 11 0.16%

12 ITALIA 734,210 794,323 8 1.66% 31 SWEDEN 83,673 64,055 -23 0.13%

13 U.A.E. 457,736 649,428 42 1.36% 32 HUNGARY 62,309 51,686 -17 0.11%

14 CZECH REP. 462,092 505,163 9 1.06% 33 JORDAN 25,067 28,520 14 0.06%

15 CYPRUS 380,231 477,106 25 1.00% 34 MALTA 22,618 24,617 9 0.05%

16 BULGARIA 405,689 469,122 16 0.98% 35 CANADA 11,311 14,776 31 0.03%

17 FRANCE 410,574 457,083 11 0.96% 36 SLOVAKIA 5,971 12,547 110 0.03%

18 LATVIA 325,839 371,351 14 0.78% 37 ΡΟΥΜΑΝΙΑ 6,165 7,486 21 0.02%

19ISRAEL 335,933 339,029

1 0.71%  TOTAL 43,725,777 47,812,920

9 100.00%

GREEK INVESTMENTS IN RUSSIA

Greek capital invested in Russia ≈ € 2.5 billion

Food & beverages, trade, construction & building materials, distribution, services

Greek Investments in Russia

Russian Company Name Greek Company Name ΔΡΑΣΤΗΡΙΟΤΗΤΑ

COCA COLA-HBC 3E HELLENICBOTTLING Beverages

MICHANIKI RUSSIA MICHANIKI CONSTRUCTION

CHIPITA CHIPITA Food

TOGAS TOGAS Textiles

LCC FRIGOGLASS 3E H.B.C. Refrigerators

ΠΛΑΣΤΙΚΑ ΚΡΗΤΗΣ ΠΛΑΣΤΙΚΑ ΚΡΗΤΗΣ Plastics

Media Strom Media Strom Mattresses

ALUMIL S.A. ALUMIL YUG Aluminum products

KLEEMANN KLEEMANN Lifts

TURN OVER OF RETAIL SALES

Source: Federal State Statistics Service (Rosstat)

(DISTRIBUTION CHANNELS)

IMPORTERS

WHOLESALERS

DISTRIBUTORS

RETAILERS

FOOD MARKETS IN RUSSIA

  2003 2004 2005 2006 2007 2008 2009 2010

NUMBER OF SALES POINTS

Hypermarkets 21 27 38 45 51 57 64 71

Supermarkets 1060 1305 1523 1822 2110 2432 2804 3223

Mini supermarkets   135 225 327 430 520 640 766

Discount markets 1078 1490 2070 2921 3784 4633 5385 5925

Total 2159 2957 3855 5114 6374 7641 8893 9985

FOOD CHAIN STORES RUSSIA

Retailer Name Ownership Sales ($U.S. million)

Number of Outlets

Pyaterochka X5 Retail Group NV, local 17,303 2,525

Magnit Magnit OAO, local 13,092 5,112

Auchan Auchan Group SA, French 4,866 37

Metro Cash& Carry Metro AG, German 4,586 65

Perekriostok X5 Retail Group NV, local 4,294 330

O’Key Dorinda Holding SA, Luxemburg, local, Estonian

3,372 75

Lenta Lenta OOO, 60 percent local, 40 percent U.S.

2,740 46

Dixie Dixie Group OAO, local 2,326 947

Karusel X5 Retail Group NV, local 2,180 77

Sedmoi Kontinent Sedmoi Kontinent, local 1,186 138

Sources: Euromonitor International, company reports and websites

MARKET SHARE

Source: Euromonitor from trade sources/national statistics

ADVANTAGES OF RUSSIAN MARKET

LARGE MARKET

NEW MARKET

GREAT PROPENSITY TO CONSUME

GREATE INTEREST FOR NEW PRODUCTS, LIFESTYLES,

PERCEPTIONS ETC.

OPPORTUNITIES FOR GREEK EXPORT BUSINESS

FOOD (fruits, fish, olive oil)

Construction materials

Furs

Pharmaceuticals - Cosmetics

ATTRACTING INVESTMENTS IN GREEK MARKET

TOURISM

(tourist real estate, marines, cruises)

Energy

(natural gas - electricity – renewable energy)

Banking Sector

DIFFICULTIES IN ACCESSING THE RUSSIAN MARKET

LANGUAGE

BUREAUCRACY – INTRASPARENCY - CORRUPTION

TECHNICAL AND PHYTOSANITARY BARRIERS TO IMPORTS

TRASPORT AND LOGISTIC PROBLEMS

LOW PROTECTION OF INTELLECTUAL PROPERTY

BARRIERS IN FOREIGN WORKFORCE

AMBIGUITY IN LAND OWNERSHIP RIGHTS

CONDITIONS FOR SUCCESS IN RUSSIAN MARKET DETAILED MARKET RESEARCH

COMMITMENT OF CAPITAL AND TIME

FIND RELIABLE RUSSIAN SPEAKING PARTNER

DEVELOPMENT OF PERSONAL RELATIONS VIA REGULAR VISITS TO RUSSIA

LONG TERM PLANS

EMBASSY OF GREEECE - MOSCOW

OFFICE FOR ECONOMIC & COMMERCIAL AFFAIRS

Address: Spiridonovka Ul.14, 121069 Moscow Tel.: +7 - 495 - 5393860Fax: +7 - 495 - 5393864

e-mail: [email protected]: www.agora.mfa.gr/russia

Elias Thanasas :Minister Counselor Eco & Comm. Affairs)Spyridon Liondos :Counselor “ “Emm. Soultanopoulos:First Secretary “ “Theodora Giannitsi :Research Expert

THANK YOU FOR YOUR ATTENTION!