RESULTS FROM THE STUDY shows that the number of Swedish companies operating in Russia is increasing and they have a very positive view of the future. A majority of the companies expect a strong growth for years to come; 82 percent of participants expected great
growth potential. The Russian middle class is growing at a fast pace and is expected to move the economy forward. At the same time there are challenges restraining business development in Russia. Corruption, communication difficulties, lack of skilled labor and an underdeveloped financial sector are examples of problem areas identified in the study.
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THE STUDY INDICATES that Russia has an underdeveloped banking sector. Swedish companies request a stable bank, which means business opportunities to us. Even though there is a lot to be done to improve the Russian business climate, we expect a great growth potential, says Raimo Valo, Manager at Swedbank, Russia.
SWEDISH COMMERCIAL relations with Russia are strengthening. Today, Russia is Sweden’s thirteenth largest export market with app. 2.0 percent of Sweden’s total exports. Because of extensive fuel imports, Russia is Sweden’s fourth largest import market.
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AS A RESULT OF previous years’ success in all areas and despite recent months’ turmoil, Russia has enormous confidence. In spite of structural problems, Swedish companies active in Russia have an optimistic view of the future, says Fredrik Häggström, Swedish Trade Commissioner in Russia.
Source: Swedbank and the Swedish Export Council