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Invest NI organises Russian trade trip

Northern Ireland companies have travelled to Russia for a week-long business mission organised by Invest NI.

The visit by the 11 companies is the second to Russia arranged by Invest NI in the past year.

Newcomers to Russia include Cunningham Covers in Maghera, Co Derry, Galen in Craigavon, Co Armagh, McCloskey, Raptic, RockRoland and TrioFormwork, all from Dungannon, Co Tyrone and Yardmaster in Draperstown, Co Derry.

The trip, which continues until July 2, is also the first Invest NI trade mission for Raptic and RockRoland. The itinerary includes a visit to St Petersburg.

The other participants are AJ Power in Craigavon, Bridgedale Outdoor in Newtownards, Co Down, CDE Global in Cookstown, Co Tyrone and Ulster Carpets in Craigavon.

Invest NI trade director Dr Vicky Kell said: "Russia is a huge marketplace of 142 million people that is widely regarded as among the most dynamic economies - one that's bracketed with Brazil, India and China as offering very substantial business opportunities especially in terms of investment in infrastructure.

"In addition, the Russian economy continues to benefit substantially from its position among the world's most important oil and gas producers.

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"Russia, which is the UK's 12th largest export market, requires a long-term investment of time and other resources by companies seeking to do business there. They can benefit from the popularity of western goods and expertise.

"Our research shows that the most promising opportunities for local companies are in advanced engineering, financial services, information technology, power and energy, sports and leisure infrastructure, airports, construction, creative industries, rail and water.

"The Winter Olympics in 2012 are also being held in Russia and will provide business opportunities for our companies."