TPT May 2008

Knowledge is everything: Tube Russia 2008

N ow in its sixth successful year, Tube Russia has become somewhat of a Russian standard. The growing reliability of the Moscow-based event – held alongside regular partners Metallurgy-Litmash and Aluminium/Non- Ferrous – is in close correlation with Russia’s increasingly confident and stable business and economic conditions. Russia has again experienced stable growth in 2007, with GDP growth rising to 8.1 per cent and 6.7 per cent predicted for this year (source: Federal State Statistics Service). Although there is danger of a worldwide recession, Russia is well-placed to deal with such pressures. Unlike many western countries, Russia’s economy is not so reliant upon personal debt and consumer credit.

According to Russia’s finance minister Mr Kudrin, “The world ’ s crisis will create additional challenges and risks in 2008. (But) the central bank and the government have enough resources to ensure stability of the financial system.” (source: Reuters) Russia has continued its position as a place for investment, with Mr Kudrin announcing $47 billion FDI (foreign direct investment) for 2007. In particular, automotive manufacture has recently gone into overdrive in Russia. In 2007, the car market grew by 35 per cent, while it is predicted that by 2012,

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In 2007, the car market grew by 35 per cent...by 2012, 1.4m cars of foreign origin will be produced in Russia

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M ay 2008

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