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Doing Business in Russia

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Doing Business in Russia Doing Business in Russia: 2017 Country Commercial Guide for U.S. Companies INTERNATIONAL COPYRIGHT, U.S. & FOREIGN COMMERCIAL SERVICE AND U.S. DEPARTMENT OF STATE, 2017. ALL RIGHTS RESERVED OUTSIDE OF THE UNITED STATES. Table of Contents Doing Business in Russia ___________________________________________ 5 Market Overview ________________________________________________________ 5 Market Challenges ______________________________________________________ 6 Market Opportunities ____________________________________________________ 6 Market Entry Strategy ___________________________________________________ 8 Political Environment _______________________________________________ 9 Political Environment ____________________________________________________ 9 Selling US Products & Services _____________________________________ 10 Using an Agent to Sell US Products and Services ___________________________ 10 Establishing an Office __________________________________________________ 12 Franchising ___________________________________________________________ 17 Direct Marketing _______________________________________________________ 18 Joint Ventures/Licensing ________________________________________________ 19 Selling to the Government _______________________________________________ 20 Distribution & Sales Channels ___________________________________________ 20 Express Delivery ______________________________________________________ 21 Selling Factors & Techniques ____________________________________________ 22 eCommerce ___________________________________________________________ 23 Trade Promotion & Advertising __________________________________________ 26 Russia Country Commercial Guide, June 2017 2 Pricing _______________________________________________________________ 30 Sales Service/Customer Support _________________________________________ 30 Protecting Intellectual Property __________________________________________ 31 Due Diligence _________________________________________________________ 33 Local Professional Services _____________________________________________ 34 Principle Business Associations _________________________________________ 34 Limitations on Selling US Products and Services ___________________________ 35 Web Resources _______________________________________________________ 36 Leading Sectors for US Exports & Investments ________________________ 38 Agriculture ___________________________________________________________ 38 Agricultural Equipment _________________________________________________ 41 Automotive Parts /Accessories __________________________________________ 45 Aviation Equipment ____________________________________________________ 49 Cosmetics and Perfumery _______________________________________________ 53 Education and Training _________________________________________________ 56 Food Processing and Packaging _________________________________________ 58 Franchising ___________________________________________________________ 62 Medical Equipment _____________________________________________________ 64 Mining _______________________________________________________________ 67 Pharmaceuticals _______________________________________________________ 70 Rail __________________________________________________________________ 73 Road Construction _____________________________________________________ 77 Travel and Tourism ____________________________________________________ 80 Customs, Regulations & Standards __________________________________ 82 Trade Barriers _________________________________________________________ 82 Import Tariff __________________________________________________________ 83 Import Requirements & Documentation ___________________________________ 84 Labeling/Marking Requirements __________________________________________ 85 U.S. Export Controls ___________________________________________________ 86 Temporary Entry _______________________________________________________ 88 Prohibited & Restricted Imports __________________________________________ 89 Customs Regulations __________________________________________________ 89 Standards for Trade ____________________________________________________ 90 Russia Country Commercial Guide, June 2017 3 Trade Agreements _____________________________________________________ 94 Licensing Requirements for Professional Services __________________________ 95 Web Resources _______________________________________________________ 96 Investment Climate Statement ______________________________________ 97 Executive Summary ____________________________________________________ 97 Openness To, and Restrictions Upon, Foreign Investment ____________________ 98 Bilateral Investment Agreements and Taxation Treaties _____________________ 100 Legal Regime ________________________________________________________ 101 Industrial Policies _____________________________________________________ 105 Protection of Property Rights ___________________________________________ 107 Financial Sector ______________________________________________________ 108 State-Owned Enterprises _______________________________________________ 110 Responsible Business Conduct _________________________________________ 110 Corruption ___________________________________________________________ 111 Political and Security Environment ______________________________________ 113 Labor Policies and Practices ___________________________________________ 114 OPIC and Other Investment Insurance Programs ___________________________ 114 Foreign Direct Investment and Foreign Portfolio Investment Statistics _________ 115 Contact for More Information on the Investment Climate Statement ___________ 117 Trade & Project Financing _________________________________________ 117 Methods of Payment __________________________________________________ 117 Banking Systems _____________________________________________________ 117 Foreign Exchange Controls ____________________________________________ 118 US Banks & Local Correspondent Banks _________________________________ 118 Project Financing _____________________________________________________ 119 Financing Web Resources _____________________________________________ 120 Business Travel _________________________________________________ 121 Business Customs ____________________________________________________ 121 Travel Advisory ______________________________________________________ 121 Visa Requirements ____________________________________________________ 126 Currency ____________________________________________________________ 127 Telecommunications/Electric ___________________________________________ 127 Transportation _______________________________________________________ 128 Russia Country Commercial Guide, June 2017 4 Language ___________________________________________________________ 129 Health ______________________________________________________________ 129 Local Time, Business Hours and Holidays ________________________________ 130 Temporary Entry of Materials or Personal Belongings ______________________ 130 Travel Related Web Resources __________________________________________ 131 Russia Country Commercial Guide, June 2017 5 Doing Business in Russia Market Overview Russia presents both significant challenges and opportunities for experienced American exporters. Russia's 2014-2016 economic downturn, driven by low oil prices and the lack of structural economic reform, squeezed both Russian corporations and the average consumer. While targeted American and European economic sanctions remain in place, there is no overall trade embargo on Russia. On the back of a tight fiscal and monetary policy, coupled with higher oil prices, Russia should return to limited economic growth of 1-2% in 2017. Over 1,000 American firms of all sizes continued to do business in Russia, given its 142 million consumers, $27k+ GDP per capita (as measured in purchasing power parity), a growing middle class and highly educated and trained workforce. There are two broad considerations when considering business prospects in Russia: geopolitics and market dynamics. Russia's continued aggression in Ukraine and Syria and interference in the 2016 U.S. elections have raised tensions with the United States and its allies. Targeted U.S. and European economic sanctions instituted in 2014 remain firmly in place and are not expected to be lifted for the foreseeable future. Restrictions on offshore, Arctic and shale oil and gas, the financial sector and the defense industry continue. For the past three years, U.S. agricultural exporters have been hit with Russian countersanctions. In addition, a number of Russian entities and individuals are also subject to sanctions, requiring American firms to do careful due diligence on potential business. Increasing state dominance of the economy, high costs of borrowing and a lack of broad economic reform constrain growth. Both large, publicly-traded U.S. multinationals and small and medium size enterprises continue to carefully monitor the overall business climate in Russia, balancing opportunity and risk. As for market-based considerations, both Western and Russian firms approach 2017-8 with cautious optimism. Stable oil prices, a less volatile ruble and a return to growth in some sectors will likely lift the Russian economy in 2017. Indeed, Western and Russian firms report year-on-year growth in large industrial equipment in the mining, energy, and heavy construction sector. The retail and residential construction sectors remain weak. Early in 2017, Standard & Poors
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