about russia

Russia is one of the greatest and biggest countries in the world with a rich historical and cultural background. The country spans ten times zones, two continents and reaches out over 17 m sq. kilometres.

Two major cities mostly known to westerners are Moscow and Saint-Petersburg. The treasure of Moscow is embodied in the Tretykov Gallery, the Bolshoy Theatre and the Kremlin collections. The most advantageous Saint-Petersburg art collections are preserved in the Hermitage and the Russian Museum. Other famous Russian towns also can boast their unique living atmosphere – castles, churches and cloisters. You can find it in medieval democratic Novgorod and Pscow or Kaliningrad (former German Konigsberg) on the Baltic Sea Coast, where I lived previously. The Russian countryside has a vast quantity of free land and is rich in mountains, rivers, forests and lakes. Nevertheless village life in Siberia is very different from England and time is endless. Russia lays claim to many remarkable people that have enriched the world. Russian writers have made an special contribution to the golden font of literature. Certain classical traditions were established by Pushkin, Tolstoy and Dostoyevskiy in Tsarist times and continued by Solzhenitsyn and Brodskiy in the Soviet era. Composers from Glinka, Tchaikovskiy, Rachmaninov, Prokofiev to Shnitke and Shostakovich have left long lasting musical legacies.

Nevertheless only the Russian people can make Russian history and culture. In spite of a hard and dramatic past, Russia today is a nation of enormous diversity and tremendous vitality. Russian people are special: they are very generous, kind and honest. In today’s modern life they keep on trying not to forget their real characters. They save their traditions, celebrate the wealth of Russia past and strive to reach the country’s potential in the future.

It is as if the cultural traditions of a century ago have re-awakened with a newfound strength – ancient cathedrals are being rebuilt and restored, colourful markets hum with activity once again and literature and the arts are quickly regaining the creative reknown they enjoyed decades ago. A new Russia is now coming into full bloom.

In recent years the growing economic factors in Russia have attracted a lot of interest from foreign enterprises.  The country is back on track after the August 1998 economic crises.  Russia has become one of the most important markets in the world.  In 2007 Russia ranked among the Top 7 countries worldwide in terms of GDP on purchasing power parity, outstripping such countries as Italy and France. Growth rate in the year 2007 constituted 8.1%, better than in any country of the European Union.  Russia does not have a federal budget deficit.  Federal budget revenues last year amounted to 7.765 billion rubles ($319 billion), and the budget surplus reached 1,782 billion rubles ($73.3 billion). According to the Central Bank's data, Russia's gold and hard currency reserves amounted to $124.5 billion as of December 31, 2004, and to $ 597.5 billion as of August 14, 2008. The Stabilization Fund was reported to have been 3,85 trillion rubles ($157 billion) by January 1, 2008. The Stabilization Fund, which was set up in January 2004, aims to reduce economic risks for Russia and to prepay Russia’s foreign debt. It also serves as a tool to sterilize excess liquidity

During Russian president Putin’s 9 years, GDP has grown by 60%. Unemployment has fallen by one-third and the minimum wage has quadrupled in just three years.  The rate of inflation is down and the rouble has stabilised.  To a great extent, the improvements in the Russian economy are down to the rise of world oil prices.  But one of Putin’s great achievements is to have brought political stability.  It is undeniable that Putin has sought to open up Russia to the West.  The current President of Russia is Dmitry Medvedev — he was elected on 2 March 2008 and inaugurated on May 7.

U.K. Trade and Investment government organisation analyse Russian development and notices that "Russia offers good long-term opportunities for UK exporters and investors. Over the past few years, trade between Russia and the UK has increased significantly, and this is expected to continue for the foreseeable future."  In 2007, UK exports to Russia totalled £2.810bn, import from Russia- £5.464bn, representing a new highest export level. Total direct foreign investment into Russia in 2007 reached a record high level of US$50bn from $26.2 billion in 2006. The UK was top foreign investor, with 24% coming from British sources.  

They help exporters from the U.K. break into this lucrative market, organising seminars, meetings and visits to Russia.  But this is not enough.  

They warn you “the challenges to doing business in Russia should not be underestimated.    In order to create the right environment for success, UK companies should carry out detailed research, including the identification of the right potential partners, and seek professional advice where necessary.  You will also need to be aware of the legal requirements for exporting goods to Russia.”

To learn how and why to get the best legal advice when doing business with Russia. Go to the overview section of this site