GloBAS International team has attended a seminar at the German-Russian Chamber of Commerce to get the latest news and trends of the business climate real situation. German-Russian Chamber of Commerce is one of the biggest associations of foreign business in Russia. It unites over 1000 member companies and actively facilitates and supports cross-countries relations since 1995.
In July 2022, the Chamber of Commerce conducted annual research among their Russian members about the business climate feelings. Over 1050 companies involved in German-Russian business relations participated in this questionnaire. 34% of the responders noted the current business in Russia as satisfactory, though 45% mentioned that things are going badly for them. Most of the companies, over 83%, would prefer to continue business in Russia, and 40,5% even assure that they will continue working without any changes. 7% plan to completely withdraw from the Russian market, 9,5% are about to freeze all their projects and 43% will either continue working without new projects, or change the company structure for further business activities.
Most of the companies agreed that the export of German goods to Russia has either been cut down already or will do so by the end of 2022. Still, in terms of the regions that companies still consider the most attractive – Moscow was voted for by 76% of responders, Saint-Petersburg received 48,8% of the votes and Tatarstan took the 3rd place with 47% sharing it with the Moscow region.
Certanly, everyone hope that German business will come back to Russia sooner or later. Still, at the moment, we at GloBAS International are continuing to work out new developing regions. In case of any questions – we are at your service at email@example.com.