The U.S. Commerce Department said it forming a trade mission to
Russia to help promote U.S. exports of auto parts to this fast growing
market.
The Automotive Parts and Components Business Development Mission to
Russia April 6-12 will provide 15 U.S. companies with the access and the
market intelligence needed to gain a foothold in the former Soviet
state.
"Fueled by steady economic growth, political stability and
huge pent-up demand, the auto market in this country of 145 million
consumers is extremely dynamic. This prompted GM and Ford to open car
assembly plants in Russia in 2002. Now is an excellent time for U.S.
auto firms to come take a close look at Russia" said Geoff Cleasby,
Commercial Officer at the Commercial Service office in Moscow.
Car ownership has doubled in Russia since 1993, and is expanding at
an accelerating pace, Commerce said. Total car and truck sales are
expected to grow at around 9.5 percent per year over the next 6 years,
while sales of new imported cars grew 40 percent in 2002 alone. The
replacement rate is also expected to be very high, as half of the cars
on Russia's roads are over 10 years old.
The Commerce Department-organized trade mission is designed to
provide U.S. equipment parts manufacturers with the opportunity to
explore first hand the trade and investment opportunities in
Russia's rapidly expanding auto assembly market.
Mission participants will receive briefings on what it takes to
succeed in the Russian market, an overview of current developments in
Russia's emerging auto sector, opportunities to meet key Russian
Government officials and decision-makers, one-on-one meetings with
potential business partners, and site visits to automotive assembly
plants and component manufactures.
The Commerce Department office in Moscow is part of the global
network of the U.S. Commercial Service, a U.S. Commerce Department
agency that helps U.S. companies, particularly small and medium-sized
businesses, export their products and services.
In 2002, the U.S. Commercial Service helped U.S. businesses
generate export sales worth more than $23 billion.
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